One year later after the global pandemic was felt by all, we are still dealing with the ripple effects that have changed a generation. Our daily commute has changed how much we drive - in most cases by much less. At the start of the pandemic, parts of the United States dropped over 60% in their driving.
While many auto insurance companies responded with some reduced premium returns - in some cases up to 25% spring of 2020 in the form of insurance givebacks - was it enough? Time will tell.
In addition to insurance givebacks, there has been an emerging trend in the automobile world - to consider in auto insurance - the rise of autonomous vehicles. How will insurance companies properly a car that no human is driving?
Take a look for a visual deep dive on on how autonomous vehicles as well as insurance givebacks will impact the auto insurance market below:
Infographic by: autoinsurance