Posted in: by Anderson Injury Lawyers

People choose insurance policies based on many reasons, but cost is a top priority. The price of an insurance policy has become an even bigger issue during the Covid pandemic, when many people are working from home and hardly driving.

Cost Is an Issue With Insurance Policies

Many people feel that if they drive less, they should pay less. Personal injury attorney Mark Anderson recently told Best Company that “[t]here will be an increase in policies that measure how many miles you drive. This is a rising trend due to the Work-From-Home phenomenon. If you drive 100 miles round trip for work, you will pay more than the WFH person who has zero miles to work (and consequently zero chances of getting into a wreck).”

In the article, “Car Insurance: 2020’s Reviews and 2021’s Trends,” Best Company Editorial Team writer Alice Stevens reported that only 27% of people indicate that car insurers do well with cost. When looking at reviews, 13% of people have a complaint about insurance rates. Although there was more praise for cost than complaints, attorney Anderson still thinks things are changing.

New Pricing Models are Necessary

Car insurance is mandatory in most states, including Texas, where Anderson Injury Lawyers serves clients in Ft. Worth, Dallas, Austin, Arlington, and surrounding areas. Good pricing matters, as it is a primary factor in attracting and retaining customers.

People who are concerned about insurance cost focus on affordability, discounts, and low premiums. Auto insurance companies do seem to try to balance cost and coverage, but with so many people working from home, innovative pricing models are necessary.

Due to the lower levels of driving across the nation, Usage-Based Insurance (UBI) has become more attractive to consumers. With a UBI policy, rates are customized depending on how much the insured drives. The more a person drives, the higher their rates will be. This allows people who work from home to have lower rates as they drive less and are a lower risk for the insurance company.

Insurance Customers Had Other Concerns Also

Stevens reported in Best Company that reviews of insurance companies also indicated that consumers were also concerned with customer service, claims, and coverage. In fact, 60% of reviews indicated companies provide good customer service. Only 10% of reviews complained about the customer service received by auto insurers.

Around 21% of reviews indicated that insurers process claims well and 7% applauded coverage. Claims were the topic of 5% of complaints and coverage was only complained about 1% of the time.

Anderson Injury Lawyers Knows How to Work with Insurance Companies

Insurance companies can be difficult to work with. If you’ve been in a car accident or other motor vehicle crash, you need to work with attorneys who are familiar with the claims process and can guide you through the situation. Call Anderson Injury Lawyers today at (817) 294-1900 or use our online contact form to reach out.