BATON ROUGE, La. (BRPROUD) — Early within the COVID-19 pandemic, auto insurance coverage corporations supplied charges at non permanent reductions. They did that as a result of stay-at-home orders meant fewer drivers on the street, fewer collisions — and in flip, fewer claims.
However as Louisiana nears 2021, circumstances have modified. The stay-at-home orders are gone. Extra individuals are curing their cabin fever by driving, as they did earlier than the virus hit. And insurance coverage charges are inching again as much as pre-pandemic ranges.
“Extra miles are being pushed,” state Insurance coverage Commissioner Jim Donelon mentioned. “Dad and mom are driving youngsters to and from faculty. They’re going to and from work.”
Talking of cabin fever: Donelon expects the price of residence insurance coverage to rise as nicely, significantly when the 2021 Atlantic Hurricane Season nears.
The commissioner owes the projected soar to a 2020 crammed with pure disasters. 5 named storms hit Louisiana — together with hurricanes Laura, Delta and Zeta. Elsewhere, wildfires ravaged California, and a derecho swept throughout the Midwest — out-of-state circumstances that may nonetheless have an effect on in-state charges.
As folks lay out New Yr’s resolutions, Donelon suggests shoppers unhappy with their present charges store round for brand spanking new suppliers.
“There are financial savings available,” he mentioned.