Claim Frequency and Costs Rise Again - PropertyCasualty360
Certainly the increases in both miles driven and vehicle fatalities are also a by-product of simply more vehicles on the road. Despite the rise in deaths, the NSC’s estimated annual mileage death rate of 1. 2 deaths per 100 million vehicle miles traveled is unchanged from the preliminary 2014 rate. Additionally, dividing odometer averages by the age of the vehicles suggests that miles driven per year per loss vehicle continue to be on the slight decline. Whether this is helping to drive up repair costs, increasing vehicle complexity alone certainly is. With a ‘hangover’ of an older fleet still on the road in the U. S. driving up total loss frequency, the industry is the unfortunate recipient of a... is cited as source, the data provided is an aggregation of industry data collected from electronic appraisals communicated via CCC's electronic network or from total loss valuations processed by CCC. Source: www.propertycasualty360.com
