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Friday, 11 September 2020 18:21

CCC AutoClaims Snapshot---August 2020

Index

Overall repairable appraisal counts for the industry were down 14.9% in August 2020 versus August 2019.

Severe weather in the Northeast from Hurricane Isaias, significant hail in South Dakota and Minnesota and dangerous derecho event in Iowa and Illinois led to an increase in comprehensive losses in the first half of the month.

 

For example, comprehensive losses in Iowa accounted for 70% of all total loss valuations and 66% of all repairable appraisals. This underscores both the severity of the storms and the fact that non-comprehensive losses overall remain down.

 

Losses from the wildfires in California and Hurricane Laura in Louisiana and Texas also continue to come in. Increases in comprehensive losses overall will help offset the decline in non-comprehensive losses and if September weather is as volatile, could result in claim counts for the year down only about 5%.

 

Excluding comprehensive losses, counts also remained down over 25% year-to-date, although August 2020 non-comprehensive counts were down only 20.5% versus down 24.7% in July 2020.

 

Areas hit hardest by the wave of COVID-19 infections in California and Texas have slowed claim count recovery in late July and early August, with areas such as San Francisco, Los Angeles, Dallas, Houston and El Paso still seeing non-comprehensive appraisals down between 27% and 30%, while volume in other areas such as NYC, Chicago, Atlanta, Denver and others is down between 15% and 20%.


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