# I wonder how car insurance companies are doing during this pandemic ....



## ABC123DEF (Jun 9, 2015)

They probably are paying out a lot less in claims due to the fact that there are fewer cars on the roads, therefore, there is a lot less risk of accidents. Could they be one of the industries that actually does well due to COVID- 19?


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## IR12 (Nov 11, 2017)

ABC123DEF said:


> They probably are paying out a lot less in claims due to the fact that there are less people on the roads, therefore, there is a lot less risk of accidents. Could they be one of the industries that actually does well due to COVID- 19?


Insurance industry usually does well in tough times.


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## June132017 (Jun 13, 2017)

They are probably hurting. People are downsizing all over the place. 2 cars? sell one. Cancel policy. 2 Homes? Sell one. Downsize.

Alot of cars will be going to the junkyard the run fine because the insurance is getting too expensive to add.


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## tohunt4me (Nov 23, 2015)

IR12 said:


> Insurance industry usually does well in tough times.


Life Insurance

Health Insurance

NOT SO GOOD !

EXPECT ALL RATES TO GO UP !


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## NicFit (Jan 18, 2020)

In the Bay Area they are having problems speeding over 100 on the empty freeways and crashing so they are still having to pay out claims around here


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## June132017 (Jun 13, 2017)

NicFit said:


> In the Bay Area they are having problems speeding over 100 on the empty freeways and crashing so they are still having to pay out claims around here


Gotta get that Zaxby's!


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## NicFit (Jan 18, 2020)

June132017 said:


> Gotta get that Zaxby's!


We don't have Zaxby's here


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## ABC123DEF (Jun 9, 2015)

NicFit said:


> In the Bay Area they are having problems speeding over 100 on the empty freeways and crashing so they are still having to pay out claims around here


They're speeding and in a hurry to get nowhere, eh?


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## mbd (Aug 27, 2018)

June132017 said:


> They are probably hurting. People are downsizing all over the place. 2 cars? sell one. Cancel policy. 2 Homes? Sell one. Downsize.
> 
> Alot of cars will be going to the junkyard the run fine because the insurance is getting too expensive to add.


Who is buying these cars and homes?? All transactions pretty much a halt.


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## Mole (Mar 9, 2017)

IR12 said:


> Insurance industry usually does well in tough times.


They are collecting payments when no one is driving the Fed is talking about rebates. We are being ripped off but I have called my insurance and changed everything it cut my premium 60% I also said I would just cancel if they did not lower it.

https://abc7news.com/6046783/


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## IR12 (Nov 11, 2017)

Mole said:


> They are collecting payments when no one is driving the Fed is talking about rebates. We are being ripped off but I have called my insurance and changed everything it cut my premium 60% I also said I would just cancel if they did not lower it.
> 
> https://abc7news.com/6046783/


Insurance companies figured out a long time ago they are on the gravy train from heaven .


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## nonononodrivethru (Mar 25, 2019)

Banks, insurance companies, and landlords will not be phased by this. Neat, huh?


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## 197438 (Mar 7, 2020)

ABC123DEF said:


> They probably are paying out a lot less in claims due to the fact that there are fewer cars on the roads, therefore, there is a lot less risk of accidents. Could they be one of the industries that actually does well due to COVID- 19?


Allstate announced today it will give 15% discounts on April and May invoices for those in lockdown states.


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## observer (Dec 11, 2014)

Mole said:


> They are collecting payments when no one is driving the Fed is talking about rebates. We are being ripped off but I have called my insurance and changed everything it cut my premium 60% I also said I would just cancel if they did not lower it.
> 
> https://abc7news.com/6046783/


Mandatory insurance is a rip off in the best off times, let alone now.

The reason rates go up is because shops charge a lot of money. The reason shops charge a lot of money is because insurance companies pay out a lot of money to shops.

It's a never ending circle at the expense of drivers. If there was no insurance drivers in accidents would be less likely to sue.

And don't get me started on health insurance!!!!.


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## ABC123DEF (Jun 9, 2015)

June132017 said:


> They are probably hurting. People are downsizing all over the place. 2 cars? sell one. Cancel policy. 2 Homes? Sell one. Downsize.
> 
> Alot of cars will be going to the junkyard the run fine because the insurance is getting too expensive to add.


Eh...not so fast...

https://www.marketwatch.com/story/a...t-of-shelter-in-place-payback-plan-2020-04-06
...and others will follow suit? Interesting.

https://www.wsj.com/articles/car-in...irus-refunds-as-accidents-decline-11586175602


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## IR12 (Nov 11, 2017)

ABC123DEF said:


> Eh...not so fast...
> 
> https://www.marketwatch.com/story/a...t-of-shelter-in-place-payback-plan-2020-04-06
> ...and others will follow suit? Interesting.
> ...


Good news! That discount notice was wack. Here in SF Bay Area accidents have increased and so has speeding according to CHP...but CA is "special".


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## VanGuy (Feb 15, 2019)

We only have gov insurance here. I posted a while back I expect my rates to go down as they must be cleaning up with nobody driving.

Petunia's been back in the shop since Thursday morning to finally finish the repairs they started a little over a month ago. I asked what was taking so long to finish a minor detail and they said they'd laid off a lot of their staff and the guys that do what mine needs only work till 2PM now.


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## IR12 (Nov 11, 2017)

I pay my insurance in full each year the month prior to expiration but, I'm thinking I may call to see if they will roll over part of that payment to 2021 renewal.


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## NicFit (Jan 18, 2020)

Yay, an extra $50, yeah that’ll pay my rent, although it it’s nice they actually gave a little back but those in lockdown states should be giving 75% back to those stuck at home. My car only has been moving once a week for 20 minutes. Used to be on the road for 8 hours every day so the 15% isn’t what I’ve been reduced to for my driving


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## MarkR (Jul 26, 2015)

ABC123DEF said:


> They probably are paying out a lot less in claims due to the fact that there are fewer cars on the roads, therefore, there is a lot less risk of accidents. Could they be one of the industries that actually does well due to COVID- 19?


Mine pushed my next payment to July


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