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How is COVID affecting car insurance?

tony • November 6, 2021

It’s no secret that COVID has changed the way many companies are doing business in the United States and the same is true for auto insurance carriers as well.  With all the supply chain issues and manufacturing shortages, we’re not only seeing the price of new and used automobiles increase in value, which is increasing the cost to insure, but more importantly we’re seeing vehicles take longer and longer to get repaired after a covered claim.  In fact, we’ve seen completely repaired vehicles sit for months waiting for a chip.  We’ve seen parts that used to take days to come in, take months.  We’ve seen some parts come in and have to sit for weeks while other parts make their way to the repair facility. 

So what should you do?

At Chrinco.com, we recommend reviewing your coverages and ensuring that you have the maximum limits of rental car reimbursement coverage available.  This is the coverage that pays for a rental car while your vehicle is being repaired.  Many times, this overlooked coverage has a per day cap and a per occurrence cap but even with these caps it can save you thousands in unplanned out of pocket expenses.

One final note, these repair delays have caused tremendous backlogs with all auto insurance carriers which has impacted their response times and their hold times.  Please note that all carriers are hiring and working diligently to work through the backlog.

Want to see what insurance rates look like in your area?  Get a quote online at shopitnow.chrinco.com or give me a call at 321-586-3754.  Chrinco.com – Insurance Simplified.

Want an auto insurance quote from a local agent in Melbourne, FL?  Click Here to get started!

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The post How is COVID affecting car insurance? appeared first on Chrinco.

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