The Shrinking Pie
The Shrinking PieTotal Loss ratios are climbing due to:
- High salvage returns to insurance companies
- Air bag replacements are sending repair costs over the top
Frequency & Severity are falling due to:
- High mount brake lights
- Better braking systems
- Day running light
- Better suspensions & steering
New categories of "under" or "un" -insured motorists:
Have you seen $1000.00 deductibles? $1500.00 deductibles? More often? Absolutely!Due to these increased premium dedutibles, people are not repairing the average collision job ($1200.00 to $1500.00).