Cites factors such as driving behavior, modern vehicle costs outside insurance industry’s control. Says repair complexity means days of the “shade tree mechanic” and collision repair facility that can fix anything are waning.
The National Association of Mutual Insurance Companies (NAMIC) on December 14 released its analysis Cost Drivers: How Riskier Roads, Rising Repairs, and Reckless Driving are Increasing Insurance Costs. The report examines the factors contributing to auto insurance rate increases, most of which are outside of the insurance industry’s control.
The NAMIC paper is based on an analysis of federal, state, and industry data related to driving
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