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In April of 2020, when much of the country was under lockdown, the number of vehicle miles traveled daily fell by 64 percent, reports KPMG. Today, many Americans are still working from home and driving fewer miles as a result.
The average cost for car insurance premiums has dropped from $1,544 in 2019 to $1,483 in 2020. You may wonder if there’s a way to further reduce your car insurance costs, say by canceling your policy outright.