As the COVID-19 Pandemic Continues, What Will It Mean for Car Insurance Prices in 2022?
Alexandra Maloney
· 3 min read
The
coronavirus pandemic
has changed virtually every industry in the world since it began almost two years ago—and that includes car insurance
. While you might not regularly think about your car insurance rates, they’re feeling the impact of the pandemic too, and could be costing you more in the process.Here, we’re giving you the rundown on how the coronavirus has impacted your insurance in the past, and how it could impact it in the future. Plus, we’re explaining how no matter what the circumstances in the industry, you can be confident you’re getting the best rate available on car insurance when you use
Jerry
. 
How has COVID-19 impacted car insurance before?
When the pandemic first began in early 2020 and nationwide lockdowns were enforced throughout the world, people were driving far less than usual, simply because they were staying home more than ever before. In turn, this caused car insurance companies to begin issuing refunds and rebates to many of their insured drivers. Fewer drivers on the road equaled less insurance payouts, which meant good news in the form of refunds for drivers.
But, as 2021 rolled around and life turned a bit more normal for some, many went back to a daily driving routine. More drivers hit the road, and it seems they may have been a bit out of practice after being home for so long—so insurance premiums increased.
Increased driving in 2021 meant increased car accidents, tickets, and in turn, increased premiums. After the refunds we saw in 2020, car insurance rates skyrocketed back up again the following year.
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How will COVID-19 impact car insurance this year?
Now, as we enter 2022 and the pandemic rages on, the question of what happens to car insurance rates this year looms.
KSL
spoke with insurance expert, Maia Sutton, who stated, “We, actually, based on our data, expect them [car insurance rates] to continue slightly increasing then plateauing in 2022.” Sutton also pointed out that there are many factors that can influence your car insurance rates, such as type of car, driving record, age, and more.The pandemic has also impacted the supply chain for new and used cars. Specifically, the pandemic has helped to
slow down the manufacturing of car chips
, an essential piece to make a car drive. Supply chain issues have increased the price of not only new cars, but also used cars, dramatically. This means, if you’re looking to buy a car and then insure it in 2022, expect to pay significantly more than normal on both accounts.
How to save on car insurance
While car insurance rates will continue to increase this year, that doesn’t mean you won’t be able to save some money. If you’re searching for new car insurance, use
Jerry
. Jerry is an online platform that quickly and efficiently compares all of the available rates on car insurance to find the best deal possible for every driver.Don’t wait. Use Jerry now to help you save on car insurance and avoid paying unnecessarily high rates.
