Empty streets call for reversal on car insurance costs

With much of everyday society driven into quarantine, could the coronavirus pandemic drive down car insurance premiums?

With fewer cars on the road, that’s what consumer advocacy groups are calling for.

"Most, through no fault of their own, are not commuting to work, college students are not commuting to college; we have parents whose children’s schools are closed, so they are forced to be home," Richard Holober, president of the Consumer Federation of California, told San Francisco news station KGO.

"We are calling on insurance companies to voluntarily notify people and start initiating rate reductions immediately, because people are hurting," Mr. Holober continued.

The news station reached out to California's two largest auto insurers, State Farm and Geico, this week and has “not heard from either.”

More insurance and risk management news on the coronavirus crisis here.