Sustaining Auto Insurance Amidst the Pandemic

​The persistent worldwide pandemic brought by Covid-19 mandated extreme economic adjustments in the business, automobile, insurance, and other social sectors. Most of the establishments, including automobile companies, resolve to closure, suspension of employees, and curfews to handle the economic setbacks. Social distancing is one of the essential precautions against the pandemic, and undeniably, one way to observe such distancing and travel safely is through private cars. Furthermore, these are the reasons to sustain auto insurance despite the Covid-19 pandemic:

1. Automobile Protection despite the pandemic
   Change of auto insurance policies by insurance companies is not feasible even in the presence of a pandemic, lest the company provides discounts, decreased insurance rates, or premium paybacks. It is recommended to retain auto insurance to continuously safeguard your car against damage, theft, and accidents, even during pandemic times. 
   
   
2. Decreasing Insurance Costs
   Despite economic setbacks brought about by the Covid-19 pandemic to one’s income and financial status, it is still advisable to continue auto insurance coverage to maintain car protection. Insurance costs can be adjusted through negotiations with insurance companies regarding obtaining lower premiums, discounts, adjusting insurance rates, and dropping optional coverage.
   
   
3. Active Response by Auto Insurance Companies Towards the Pandemic
   Insurance companies have varied responses to the economic crisis from Covid-19. It is important to communicate your insurance needs to them, and they may provide adjustments in the form of:
      - Paybacks on monthly premiums;
      - Fixed-rate refunds for policyholders;
      - Transitory payment extensions;
      - Reduction of insurance rates; and
      - Provision of billing support. 
   
   
4. Filing Insurance Claims
   The filing of insurance claims can be a tedious process, considering the multiple parties involved in its facilitation. Closure and limited opening of offices may cause delays in the processing of insurance. Social distancing should still be observed; hence, it is encouraged to contact insurance agencies for inquiries via phone, email, company’s website, or a mobile app. 

Parting Words
The global Covid-19 pandemic may bring about drastic changes in one’s life, including income and economic status. However, obtaining auto insurance may significantly outweigh the financial setbacks since it provides policyholder protection from huge premium costs.

At UG Insurance Brokerage, Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (718) 848-7777. Get your free quote today by CLICKING HERE.