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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
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...
- 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...
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