Right now, things are strange. We’re self-isolating, and we’re social distancing ourselves. We’re spending more time at home than we ever have before. We’ve talked about keeping an eye on your home for wear and tear because you’re there almost all the time now and your home’s infrastructure just isn’t used to that.
Now, all that being said, let’s shift our focus to your family’s vehicles. If you, like many of us, have found yourself in a new normal of working from home, you may find that your vehicle doesn’t get used nearly as much as it used to. When vehicles are used less than anticipated, they can sometimes fall under a different type of insurance or a different type of coverage.
Around the world, we are seeing drops in the use of vehicles, and the presence of traffic congestion. Peak rush-hour in Vancouver has been down 40% in some cases amidst the restrictions and shutdowns. Congestion indexes are down by more than 45% in some major Canadian cities, indicating that the usual rush-hour periods in the morning and evening are significantly reduced (and in some cases, non-existent). In some extreme cases, overall movement (use of vehicles and public transport) was as low as 9% of what the usual activity was during the 4-week period leading up to global restrictions and shutdowns.
As it relates to public transportation, a survey in the United States of roughly 2000 people indicated that at least 57% percent of respondents would be “much less likely” to use any form of public transportation if COVID-19 were to spread to their community. Additionally, experts are predicting an overall decrease of roughly 15% in year-over-year vehicle sales compared to 2019. Community members are avoiding public transportation, reducing their own commutes, and often deferring plans to buy new vehicles. The impacts on overall mobility and transportation are incredibly far-reaching.
Depending on your situation, where perhaps you’re just driving less until your workplace opens again, or you’ve made a permanent change in light of the new normal and will be working from home from now on, now would be a great time to have your insurance policy reviewed.
Here at Coast Insurance, we’re in the business of taking care of our clients. That means making sure that the coverage you have fits the life you lead. When’s the last time you had your insurance policy reviewed? In this time of change let us help you keep you and your family safe.
