With Americans staying inside, there is far less traffic on most roadways. Less traffic generally means fewer car accidents, and some states have the data to back it up. In California, for example, car accidents have decreased by almost 60% since the state’s safer-at-home order went into effect. Figures from the University of California, Davis (UCD) show collisions falling from 1,000 to 500 per day. Injuries and fatal crashes have fallen, as well, decreasing from 400 to 200 per day. Washington has even better news – compared to this time last year, fatal car accidents have decreased by 100%, and regular collisions have declined by 67% statewide.
While not all states have released their most recent crash statistics, the recent actions of insurance companies have shown that car accidents have gone down nationwide.
Car Insurance Refunds
With fewer car accidents across the United States, insurance companies have saved billions of dollars. To give back and assist the American public during this difficult time, many insurers are offering refunds and discounts during the coronavirus pandemic.
Allstate led the charge, offering 15% refunds on premiums paid in April and May for about $600 million in customer savings. The company’s CEO stated:
"Given an unprecedented decline in driving, customers will receive a Shelter-in-Place Payback. This is fair because less driving means fewer accidents."
Since Allstate’s announcement, the following insurance companies have followed suit:
- American Family Insurance will refund $50 per insured vehicle for total savings of about $200 million.
- Famers and 21st Century Insurance will provide a 25% refund on April premiums.
- GEICO will take 15% off new or renewed policies between April 8 and October 7, 2020.
- Liberty Mutual will be issuing 15% refunds on policy payments for both April and May for about $250 million in customer savings.
- Mercury Insurance is offering 15% refunds on monthly premiums in April and May.
- Progressive will give 20% refunds in account credits for both April and May.
- State Farm will refund 25% of premiums paid between March 20 and May 31, 2020.
- Travelers will credit 15% April and May premiums to customers’ accounts.
- USAA will give customers a 20% credit on 2 months of premiums.
Even if your insurer is not participating in a refund or credit program, you may be able to save. Contact your insurer to see if discounts or available or see if you can temporarily adjust your coverage to account for how much driving you are doing (or not doing).
If You Drive, Drive Defensively
With fewer car accidents, it may feel like the roads are safer. Sadly, this is not the case. Since stay-at-home orders began, illegal street racing has made a comeback and tickets for excessive speeding have gone up.
While there are fewer accidents, those that do happen may be especially serious.
If you or a loved one are injured or bereaved, please do not hesitate to contact Foley Griffin, LLP today.
To schedule a free consultation, simply call us at (888) 966-8480 or send us your information online.
We look forward to helping you get through this difficult time.