What's Happening?
The holiday season significantly impacts driving patterns, with a notable increase in auto claims due to everyday errands. According to Plymouth Rock Assurance, auto claims rise by 20% to 30% in the week
before Christmas, marking the largest increase in claim volume annually. This trend has been consistent since 2022. The increase is attributed to more frequent short trips to crowded shopping centers, tighter parking lots, and heavier pedestrian traffic. Parking lot collisions, in particular, rise by approximately 18% during this period. Modern vehicle designs, which incorporate advanced safety features in bumpers and side panels, make even low-speed accidents costly to repair. This situation underscores the importance of reviewing insurance policies, understanding deductibles, and documenting accidents thoroughly.
Why It's Important?
The rise in auto claims during the holiday season highlights the need for drivers to be more cautious and informed about their insurance coverage. The increased claim volume can lead to higher premiums for policyholders, especially if fault is assigned in accidents. Insurance agents play a crucial role in educating customers about their coverage options, including collision insurance and rental vehicle coverage. This period also presents an opportunity for agents to engage with customers during year-end renewals, ensuring they are adequately covered for potential risks. The trend reflects broader patterns of increased traffic and altered driving behaviors during the holidays, emphasizing the importance of proactive risk management.
