Usually people drive less when fuel prices are high, so insurance rates should go down, espeacially for vehicles with poor fuel economy.
Is this happening now in 2022? Or is inflation, increased vehicle cost, and the opportunity to make money making this not happen currently?
No sign of less driving around here.
+1
At the height of the Pandemic, the highways were almost devoid of traffic in my area, and–to their credit–some insurance companies (including mine) did issue rebates to their customers. Now, the roads are just as crowded and congested as they ever were.
While people are verbalizing their dislike of high gasoline prices, it does not appear that most people are driving any less than they were several months ago.
1000 miles per month at 1/15 gallons per mile with a gas guzzler is 66.7 gallons per month, or $333 per month with gasoline at $5 per gallon. That’s getting to be in the ball park of 10% of someone’s income! I wonder how high it will have to go before people cut back on driving?
Meh, if you look at it in perspective, it’s only $150-160 more per month than they were paying before when prices were lower. Not that anyone wants to pay more and not that it won’t be hard on some folks.
One things for sure - I’m priced out of the new car market. Couldn’t afford the payment and the gas bill together (or at least I don’t intend to). My next new truck may be an old Chevy with a 350. You can buy lots of gas for 60 grand and most new trucks only get 5 or 6 mpg better anyway.
Since the cost to repair or replace the vehicle has increased a significant amount, then car insurance will as well. As long as inflation sticks around, increases will continue…also as long as the state’s insurance commission allows them to pass along the greater risk.
People around me are complaining their home insurance is going up - a LOT in some cases - but these same people are walking on air because the value of their home has increased 40% or more in the last year. Repairing damage from a claim is REALLY high because of the high demand for contractors that are very, very busy. They are building new homes and doing improvements for existing home owners that took out a second mortgage to add a pool, a bedroom, a new bath ect…
I’ve never understood that. You can realistically only keep that money if you sell your house and move into a bad neighborhood. Lol
Yay, I’ve got several hundred thousand dollars and now live in a box! 
Exploding house prices only really benefit those owners that are down-sizing… To a smaller (less expensive) home, into senior living arrangements, or into a pine box 
so their heirs can benefit!
If you are driving less you can notify your insurance company and that alone may drop your rate.
I got a small reduction during the shut down but don’t expect anything for high prices. You have to remember they base their rates on cost, and costs have been increasing for everyone. Talked to a body shop today. Everyone is super busy and rates are high. Insurance needs to pay those repair rates. If they are paying out more, regardless of driving patterns, they aren’t going to lower rates.
I did that several years ago when my driving began to amount to less than 10k miles per year. That got me a small reduction.
What if the vehicle is driven only 1500 miles per year?
Allstate has a Milewise smartphone app that charges you based on how much you drive. But you can just leave your phone at home and not get charged for a trip. It’s like they’re rewarding you for putting their spyware on your device. They also have the Milewise OBD II port device that ties up your OBD II port and connects to the cellular network and tracks you everywhere you go. I’d imagine you can just unplug that too. Not all vehicles report miles traveled electronically.
I’m sure the insurance companies have ways to make sure their tracking-based rates can’t be so easily defeated.
State Farm was pushing that a few years ago. I don’t so easily sell my freedom for a few dollars. Told them to stuff their discount.
They simply raise their rates all around to cover the cost of some people who cheat.
If the insurance company had a less privacy invasive device, or if they just checked the odometer or tire wear to see how much you drive it would be a good thing.
Speaking of State Farm, for many years they provided the financial support for the NJDOT’s Safety Patrol trucks on the Interstates because getting people with flat tires and no gas off of the shoulders as quickly as possible is a good thing for auto insurance companies. Yesterday, I noticed that those safety patrol trucks now bear signs stating “Courtesy of Geico”.
So, kudos to the lizard and a Bronx Cheer to State Farm.