If you have not received a rebate check from your auto insurance carrier, give them a call to understand why you haven't. Also, if you've not compared auto insurance rates lately, we have a tool where you can receive competing quotes from various auto insurers, with no cost or obligation. Use this form if it has been more than a year since you compared insured costs:
Auto insurance companies are regulated by state and federal insurance agencies. These agencies control overall insurance rates to ensure that the rates are 'reasonable' and not excessive. Without going into too much detail, insurance companies are allowed to be profitable, but they can't be too profitable at the expense of their insured.
Over the last eight months, Covid has significantly curtailed the amount of driving that most Americans are doing. The number of US workers commuting into big cities is down substantially, and many others have limited their driving, simply because they are not going out to dinner, the movies or even on weekend trips. As a result of this significant reduction in miles driven, there are much fewer accidents, and hence, much fewer claims filed by motorists.
This reduction in insurance claims has resulted in insurance companies being deemed to be 'too profitable', and as a result, state and federal agencies are forcing insurance companies to issue rebate checks to their insured, which is highly unusual. Additionally, insurance rates have fallen significantly, reflecting the fact that US motorists are simply spending less time on the road, having fewer accidents, and filing fewer claims.