So, people are driving less — we have established that fact. And that is, believe it or not, the very reason that the cost of gas is causing insurance rates to go down.
People are driving less largely because gas is so expensive. When people drive less, they are not as at risk for having an accident and having to file an insurance claim, or for getting a traffic violation and getting points on their driving record.
Insurance companies like it when your risks goes down. It means they are less likely to have to pay for injuries or car repairs.
That is a big one — being at less risk for an injury derived in a car accident. The less you drive, the less at risk you are. Your car insurance company loves that, and you can see a dip in your rates because of it.
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