Many insurance companies are giving consumers a break amid the COVID-19 pandemic.
With so many people self-isolating and staying home, fewer vehicles are on the roads right now which means fewer claims.
Insurance Bureau of Canada spokesperson Amanda Dean says many member companies are offering reductions on auto insurance premiums.
“We expect that this offer could result in about $600 million in savings nationwide to consumers and that the reductions will continue for about the next 90 days,” she notes.
Dean says other measures include flexible payment options, waiving NSF fees or those using their car or home differently will not see premiums affected.
If you have lost your job during the pandemic, Dean suggests you should get in touch with your insurance company to see what they are offering.
