We’ve Cut Our Driving In Half. Is It Time For Pay-Per-Mile Insurance? - LeadCloud News
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We’ve Cut Our Driving In Half. Is It Time For Pay-Per-Mile Insurance?
05 May 2020

We’ve Cut Our Driving In Half. Is It Time For Pay-Per-Mile Insurance?

The reduction in miles driven has been such a drastic change in our driving behavior that more than 20 car insurance companies have taken unprecedented steps to issue car insurance refunds or credits to their customers, with potentially more refunds on the way. Some car insurance companies explained that the reasoning behind these refunds was to better reflect the actual mileage that is currently being driven versus pre-pandemic mileage. 

But only 57% of consumers are aware of their insurance company’s refund efforts, and once they become aware, they are 1.8 times more likely to look for a different insurance company, according to a recent survey by J.D. Power.

Read more here - https://www.forbes.com/sites/advisor/2020/04/27/we-cut-our-driving-in-half-is-it-time-for-pay-per-mile-insurance/#1c47ded12d30

 

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