Safety Gadgets Driving Up Insurers’ Auto Repair Costs (Canadian Underwriter)

Safety Gadgets Driving Up Insurers’ Auto Repair Costs

  Wednesday, January 10th, 2018 Source: Canadian Underwriter

Safety gadgets mounted on today’s slick new vehicles are creating headaches for insurers when it comes to the severity of auto insurance physical damage claims. Why? Because it costs more to repair them when they are damaged in collisions.
Mitchell Canada reported in the Q3 edition of the 2017 Mitchell Auto Physical Damage Industry Trends Report that the average gross initial appraisal value was $3,790 in 2017 Q2 — a $190 increase from 2016 Q2. Insurers are observing elevated repair costs based on all kinds of sensors that are now placed in mirrors, bumpers and windshields of new cars.

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