Lower Car Insurance during COVID 19 Crisis

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With COVID 19 affecting the economy, we are seeing significantly less motor vehicles on the road due to lay-offs, self quarantine, and people working from home. Many people no longer have a steady income stream and are trying to survive during this pandemic by receiving EI and CERB from the government. The government and many other companies have provided solutions to help relieve Canadians stress over payments. Water bill payments can be deferred, mortgage payments can be deferred, and property taxes as well; but why haven’t car insurance rates gone down? Car insurance providers should be providing a solution or temporary relief for those that have been affected by the COVID 19 virus. With so few motor vehicles on the road, we should be seeing a lower monthly rate or at least a refund or credit for those who pay annually. Less cars on the road mean fewer accidents and larger profits for car insurance companies. Many people living in cities like Brampton, ON are paying really high premiums compared to other cities. Canadians that have been affected by COVID 19 should not have to worry about paying an already high priced premium for a motor vehicle which they are using for essential purposes only to survive through this pandemic. They should also not have to worry about premiums increasing if they decided to pause or cancel there insurance and reapply after the crisis has passed. Something needs to be done. Car Insurance companies need to take action and find a solution to help Canadians in this time of need.