Five Collision Claim Trends to Monitor in 2025

[Chris]

The auto insurance industry has faced numerous challenges recently. Although claims dropped in early 2024, insurers continue to struggle with vehicle complexity impacting severity and cycle time. Here are the top 5

• Total Loss Frequency is Rising
• Claims Volumes Continue to Fall
• Vehicle Complexity is Driving Up the Severity
• Electric and Hybrid Vehicles Present New Challenges
• Shifting Gears and Adapting to Change

So IMO - it might be more beneficial for folks looking to save money, to keep their ICE type cars for a bit longer, and drive them for as long as they can. Sure you can have a Tesla, but prepare for your premiums to stay high.

Read the full story here...

 

[marindependent]

Shifting Gears

Was this a pun?

 

[Chris]

Was this a pun?

I try to be a comedian part time.

 

[Allen Trent]

The auto insurance industry has faced numerous challenges recently. Although claims dropped in early 2024, insurers continue to struggle with vehicle complexity impacting severity and cycle time. Here are the top 5

• Total Loss Frequency is Rising
• Claims Volumes Continue to Fall
• Vehicle Complexity is Driving Up the Severity
• Electric and Hybrid Vehicles Present New Challenges
• Shifting Gears and Adapting to Change

So IMO - it might be more beneficial for folks looking to save money, to keep their ICE type cars for a bit longer, and drive them for as long as they can. Sure you can have a Tesla, but prepare for your premiums to stay high.

Read the full story here...

And they have been saying car technology & driver less cars would be driving down the number of accidents & thus claim costs...............seeing complete opposite, severity of auto claims seem to be up everywhere---but looks like the article says frequency is dropping--maybe tech on the cars is decreasing the number of car to car accidents....................but wont help the vandalism claims

 

[Markthebroker]

The auto insurance industry has faced numerous challenges recently. Although claims dropped in early 2024, insurers continue to struggle with vehicle complexity impacting severity and cycle time. Here are the top 5

• Total Loss Frequency is Rising
• Claims Volumes Continue to Fall
• Vehicle Complexity is Driving Up the Severity
• Electric and Hybrid Vehicles Present New Challenges
• Shifting Gears and Adapting to Change

So IMO - it might be more beneficial for folks looking to save money, to keep their ICE type cars for a bit longer, and drive them for as long as they can. Sure you can have a Tesla, but prepare for your premiums to stay high.

Read the full story here...

I write commercial P&C in Ca. Writing property coverage is tough, but writing non fleet auto, especially a single auto, is probably the hardest thing to write right now.

We keep hearing about how hard property is to write in Ca, but as far as I'm concerned, auto is way worse, at least on the commercial end, imo.