A recent 3-year study from the Insurance Research Council shows that auto physical damage insurance claims have increased substantially in the last few years. The study looked at over 200,000 claims to identify different patterns in auto physical damage insurance claims. The study showed that the average payments increased 4 percent over the study period. The Consumer Price Index for maintenance and repairs grew 2 percent.
Increased auto damage claims are a common reason why auto insurance costs continue to rise. Analysts point out that vehicle technology continues to evolve, making it more complicated to assess issues regarding […]