What's Happening?
The holiday season is identified as the most accident-prone time of the year, with a notable increase in auto claims. According to Plymouth Rock Assurance, auto claims rise by 20%-30% in the week before Christmas, driven by increased errand-driven trips
and crowded shopping centers. Parking lot collisions account for a significant portion of these claims, with incidents rising by approximately 18%. Modern vehicle designs, which incorporate advanced safety features in bumpers and side panels, have made even minor crashes more expensive to repair. This has led to higher repair costs, with some vehicles costing up to 38% more to repair after a crash.
Why It's Important?
The increase in auto accidents during the holiday season highlights the need for heightened awareness and preparedness among drivers. The financial impact of these accidents is exacerbated by the high cost of repairing modern vehicles equipped with advanced safety features. This trend underscores the importance of comprehensive insurance coverage and proactive communication between insurance agents and policyholders. Understanding the risks associated with holiday driving can help drivers make informed decisions about their coverage needs and avoid unexpected expenses.
What's Next?
Insurance agents are encouraged to engage with policyholders to review coverage options and ensure adequate protection during the holiday season. This includes discussing deductibles, rental vehicle coverage, and the impact of collision claims on premiums. As the holiday season continues, drivers are advised to exercise caution and document any accidents thoroughly to facilitate the claims process. The insights gained from this period can inform future strategies for managing seasonal risks and improving customer satisfaction.
