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Associate Professor of Economics Alexander Bick answers whether COVID-19 has affected consumer demand for car insurance.
Associate Professor of Economics Alexander Bick answers whether COVID-19 has affected consumer demand for car insurance.
In this story published May 15, 2020, on WalletHub:
People are driving less and still many people are out of work who had not been in February. That should decrease demand. But at the same time, car insurance has become cheaper (because people drive less), and more people are staying away from public transportation. That could potentially increase demand.
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