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Study Indicates Auto Insurers Unfairly Profited During COVID-19

The US Public Interest Research Group (US PIRG) reported that some consumers did not receive a refund or rate cut from auto insurers in 2020 when COVID-19 hit despite driving significantly less. According to the Consumer Federation of America, the pandemic increased auto insurers’ profits by tens of billions of dollars.

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According to the article on US PIRG’s website, in response to the increased profits since the COVID-19 pandemic hit, some companies gave customers credits on their bill; others implemented long-term rate reductions; others issued two-month rebates. In some cases, customers didn’t get a refund or rate cut unless they called. Still other insurers did nothing at all, even if customers asked. 

To read the article in its entirety, click here.

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