Pandemic rebates and discounts impacted total spending on auto insurance. Top 10 Auto insurers continued to grow market share during 2020 in the U.S.
Total direct premiums earned on private passenger auto insurance were $250 billion in the U.S. in 2020, down about $1 billion, or 0.39% from $251 billion in 2019.
As a result of the reduction in driving due to pandemic restrictions last spring, many insurers early on voluntarily started rebate and discount programs for their customers. Many states then implemented regulations to allow the discount programs and, in some cases, required expanded discounts beyond the initial voluntary