fbpx
Wednesday, 18 November 2020 17:22

CCC Auto Claims Snapshot---October 2020

Index

Repairable appraisal counts in October 2020 were nearly 20% lower than in October 2019. 

This was an improvement from September 2020, when repairable appraisal counts were down 22.7%. Year-to-date repairable appraisal counts are still down nearly 22% versus the first 10 months of CY 2019.

 

Only two states saw a slight uptick in repairable appraisal counts in October 2020---South Dakota, up 3%, and Louisiana, up 8%.
 
South Dakota was one of several states in the upper Midwest hit by a winter storm on Oct. 20 that left the area covered with nearly a foot of wet, heavy snow.

 

Louisiana, meanwhile, has been hit by no fewer than five tropical storms and hurricanes this year, with Hurricane Delta and Hurricane Zeta hitting the state in October. 

 

Aon Benfield noted Zeta was the record fifth tropical storm to make landfall in Louisiana in a single season, the first instance on record of a state to have five storms in a single season, dating back to 1851.
 
Excluding comprehensive losses, overall claim counts (repairable appraisals plus total loss vehicle valuations) remain down 24% year-to-date through October. Non-comprehensive repairable appraisals remain down more than 25%, while non-comprehensive total loss claims are down only 18.6% year-to-date. 

 

The percent of claims that are total loss continues to trend up, with total loss frequency up to 21% of all losses Q3 2020, versus 18.7% in Q3 2019.  Higher total loss frequency with a higher share of claims that are non-driveable continue to...


Previous Page Continue reading »

Read 1896 times