COVID, Unemployment Drive Down Repairable Auto Claims

 Wednesday, November 18, 2020

 Repairer Driven News

CCC on Wednesday estimated repairable auto appraisal counts were down nearly 20 percent in October. The projections come amid November releases of third-quarter same-store sales data from Gerber Collision’s parent company and 3Q frequency data from Allstate and Progressive.

This month also saw Liberty Mutual and State Farm representatives assess their loss rates and GEICO’s Berkshire Hathaway evaluate claims for the first nine months of the year.

The various statistics offer auto body shops mechanisms for evaluating their businesses and gauging the impact of future pandemic initiatives upon claims.

For example, states like Washington and Michigan this week tightened restrictions in response to significant COVID-19 resurgences — potentially curtailing road traffic and collisions even further. CCC reported that Washington’s repairable claims were already down 23 percent in October, and Michigan’s stood down 16 percent.

“With the U.S. reporting more than 100,000 new COVID-19 cases in a single day, predictions of a winter wave of the virus appear to be coming true; plans to bring more students back to school full-time or employees back to office will likely be stalled further,” CCC wrote Wednesday.
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