Auto liability and collision claims costs are rising

KMRD Are You Ready for One Minute From Normal?


Auto liability and collision claims costs are rising

At our website we ask visitors the question: What if an unscheduled event suddenly seizes control of your business? Are you ready?

According to the National Highway Traffic Safety Administration, U.S. motor vehicle crashes in 2012 cost an estimated $1 trillion ($1,000,000,000,000) in terms of loss of productivity and loss of life. An estimated 2,362,000 people were injured, an 11% increase over the 2011 figure of 2,217,000.

Liability and collision claims costs are rising too. The average collision claim in 2012 was $2,950 and the average comprehensive claim was $1,585. As of 2012, the average auto liability claim was $3,073.Insurers bear most of the cost, paying approximately 50% of the motor vehicle costs.  Crash victims cover about 26% of the costs, while uninsured otorists, healthcare providers and other third parties pay about 14%.

The remaining costs are picked up by federal and state municipalities.If your company has a fleet of vehicles or if employees use their own vehicles while on company business, review your auto insurance coverage each year to understand its deductibles and coverage. Otherwise, your company could be at risk of substantial financial liabilities one minute from normal.

For all clients of KMRD Partners, we make a kit available for each of your vehicles, which will walk your driver through the process of “what to do” following an accident. If you aren’t already a client, we hope you will give us an opportunity to earn your business.

Complete the form below if you would like a no obligation copy our our kit.

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