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COVID Relief

During the first major lockdown, most insurers provided temporary premium relief to acknowledge the extreme change in the amount being driven.  Some insurers provided discounts or partial rebates for several months, in the spring.  Others reversed planned premium increases that had already taken effect or were planned.  If your driving habits have changed due to Covid-19, you should talk with one of our brokers to see how we can help reuce your insurance premiums. Changes that can lower your rates include:
  • No longer driving to work, but you still need to drive. We can change you from commuting or business use to pleasure only and low mileage. This will typically save from 10-20%.
  • You are no longer driving your car at all.  If you will not drive your car for a minimum of 6 weeks, you can suspend coverage on your vehicle while it is parked.  Suspending coverage maintains your Accident Benefits, Liability & Collision coverage on your car. This is important if:
    • your are injured in a car accident as a pedestrian or passenger in someone else's car
    • you are driving someone's car and are involved in an accident
    • your car is hit by another vehicle while parked
    • savings are in the 50-60% range
  • If you have multiple cars and can now get along with one. If you can park one car and just use the other, you can delete all coverages except the Fire & Theft on the parked car.
    • Savings are about 75-80% on that vehicle but if there is only one car with driving coverages, you'll lose the multi-vehicle discount on that car, which is around 15%
    • If your car financed or leased, your agreement with the finance company probably prevents you from using this option.  You will still be able to use the "Suspend" option.
    • You must make sure your car is parked in a secure place.  If you car is struck by another vehicle and that driver takes off, you will not have insurance to cover the damages, since you don't have Collision coverage.  Because of an idiosyncracy in car insurance regulations, you may not have coverage even if they stick around and provide their insurance information.
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