Contact Us: ​(225) 667-7377
American Eagle Insurance
  • Home
  • Quotes
    • Property Quotes >
      • Home Insurance Quote
      • Flood Insurance Quote
      • Earthquake Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Classic Car Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Business Quotes >
      • Commercial General Liability Quote
      • Workers Compensation Quote
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Insurance Bond Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
      • Travel Insurance Quote
      • Special Events Insurance Quotes
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Policy Review
    • Contact My Carrier
    • Online Documents
    • Free Consultation
  • Insurance
    • Property >
      • Home Insurance
      • Flood Insurance
      • Earthquake Insurance
      • Landlords Insurance
      • Renters Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Business >
      • Commercial General Liability
      • Workers Compensation
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Insurance Bonds
    • Other >
      • Event Insurance
      • Travel Insurance
      • Special Events Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Helpful Info
    • Blog
    • News
  • Contact
  • Home
  • Quotes
    • Property Quotes >
      • Home Insurance Quote
      • Flood Insurance Quote
      • Earthquake Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Classic Car Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Business Quotes >
      • Commercial General Liability Quote
      • Workers Compensation Quote
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Insurance Bond Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
      • Travel Insurance Quote
      • Special Events Insurance Quotes
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Policy Review
    • Contact My Carrier
    • Online Documents
    • Free Consultation
  • Insurance
    • Property >
      • Home Insurance
      • Flood Insurance
      • Earthquake Insurance
      • Landlords Insurance
      • Renters Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Business >
      • Commercial General Liability
      • Workers Compensation
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Insurance Bonds
    • Other >
      • Event Insurance
      • Travel Insurance
      • Special Events Insurance
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Helpful Info
    • Blog
    • News
  • Contact

American Eagle Insurance Blog

Impacts of Covid-19 on Auto Insurance Industry

4/12/2021

0 Comments

 
Picture
The Covid-19 pandemic brought out different changes globally. It changed our lifestyle and daily routines. The pandemic impacted the economy, where many businesses had to close. 
​
One of the industries impacted by Covid-19 is the auto insurance industry. Here are the impacts brought about by the pandemic to the auto insurance industry.
Effects of Covid-19
There have been drastic changes in everybody’s lives because of Covid-19. Schools had to be done virtually. Many employees had to work at home. Lockdown meant people had to stay at home, which translates to less use of vehicles.

This change in lifestyle has had both positive and negative impacts on many different kinds of businesses. One industry severely impacted is the auto insurance industry. Auto insurance companies must engage in brainstorming and planning for possible things to happen.

Negative Impacts
With the instability of the market due to the lockdown, here’s how the Covid-19 pandemic negatively impacted the auto insurance industry:
  1. Auto insurance shopping had a tremendous decline beginning mid-March of 2020. It was at its lowest level seen in the last ten years.
  2. Cities may have a higher number of accidents. Less congestion could lead to increased speed drive.
  3. Many employees had to work from home, meaning their vehicles were unused for weeks or months. Because of that, many auto insurers offered discounts and refunds on auto insurance premiums.

Positive Impacts
As unbelievable as it may seem, there were some positive effects to auto insurance despite the lockdown.
  1. There was a decrease in accidents because of the less use of cars. Fewer accidents mean fewer claims for auto insurance companies.
  2. Connected to the first item, there was a return of premium. However, the reduction in losses was greater.
  3. Auto insurance refunds resulted in customers paying it back to the auto insurance market.

Conclusion
Just because people are less driving now does not mean you should let go of your auto insurance policy. You never know when you will need the protection the insurance covers. It’s best to keep your auto insured because, let’s face it, the pandemic can’t stop us totally from going out.

At American Eagle Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (225) 667-7377. Get your free quote today by CLICKING HERE.
0 Comments



Leave a Reply.

    Contact Us

    (225) 667-7377​
    2900 South Range Ave
    Denham Springs, LA 70726​
    Click Here to Email Us

    Archives

    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019

    Categories

    All
    Auto Insurance
    Business Insurance
    Commercial General Liability
    FAQs
    Financial
    Flood Insurance
    Home Insurance
    Insurance
    Local
    Safety
    Workers Compensation

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

American Eagle Insurance​
2900 South Range Ave
Denham Springs, LA 70726
(225) 667-7377
Click Here to Email Us
Review Us

Location

 Website by InsuranceSplash