Auto claims frequency declined more than 2% on an annualized basis from 2002 to 2022, the Insurance Research Council (IRC) reports. However, claims severity has swung in the opposite direction, with an acceleration in the mid-2010s followed by a more pronounced jump during the pandemic (2020 to 2022). The IRC's Trends in Personal Auto Insurance Claims 2002-2022 report showed that the average claim payment increased steadily over the course of that 21-year period, increasing over 4.5% annualized. Forbes Advisor recently examined data on the number of motor vehicle-related fatalities, the average number of years between collisions and relative collision likelihood of the 50 most populous cities in the United States to determine where drivers are crashing the most. Overall, it found many of the highest-risk areas are along the coast or in populated metropolitan areas with limited public transit services. While the slideshow above details the cities in which Forbes Advisor determined you're most likely to get in a wreck, the cities they found have the highest rates of fatal car accidents are:
- Memphis, Tennessee
- Detroit, Michigan
- Tuscon, Arizona
- Jacksonville, Florida
- Albuquerque, New Mexico
- Louisville, Kentucky
- Kansas City, Missouri
- Dallas, Texas
- Atlanta, Georgia
- Tampa, Florida
Full details of Forbes Advisor's report can be found here.
Related:
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.