Since people are driving less in the midst of COVID-19 related stay-at-home orders, many auto insurers have responded with totaling about $10 billion.How are consumers reacting to these refunds? A May 5 webinar co-hosted by Cambridge Mobile Telematics’ (CMT) VP of Insurance & Government Affairs, Ryan McMahon, and J.D.Power’s VP of Insurance Intelligence, Kyle Schmitt, shed light on this question.

has been conducting consumer sentiment surveys since March 24.Schmitt said that one key takeaway is that in light of pandemic related layoffs, customers are thinking pragmatically about auto insurance, so the timing of the premium relief announcements was excellent.However, it’s important to note that auto insurance is not top of mind for many consumers struggling to keep the lights on or food on the table, and not everyone is aware of refunds.

Here are a few other key takeaways: The panelists were also asked to speculate about possible increases in fraud, and McMahon said that fraud activity always comes with economic reductions, however it’s possible that fraudulent claims may be easier to spot because there are fewer claims.