Car Insurance Costs Dropped Due to the Pandemic. What Do Experts Predict for 2021?

By Money.com - February 10, 2021

For drivers, a teeny-tiny silver lining of the pandemic last year was cheaper car insurance. Experts say savings are likely to continue in 2021, but how much drivers may get back remains in question.

Americans are back on the roads today in greater numbers than they were last spring, when stay-at-home orders and widespread business shutdowns first caused a dearth of vehicles on the road. Not only are we driving less, says Matt Carrier, a principal at consulting firm Deloitte, but we’re driving differently. Since many people are still working and learning from home, we’re spreading out our trips over the course of the day. Morning rush hour commuters, for instance, have a lot less company on the road these days — and less chance of crashing into one another.

All of which might seem to make continued insurance savings a slum dunk in the new year — a development that consumer advocates say is just and necessary. Predictions from industry spokespeople lean in that direction, but the details are still emerging.

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