3 ms·
I’m sure car insurers pay out significantly more for vehicle damage than person damage. Most accidents don’t involve harm, but body shops are getting expensive.
by seanmcdirmid 3y ago
I’m sure car insurers pay out significantly more for vehicle damage than person damage. Most accidents don’t involve harm, but body shops are getting expensive. For WA:
> In 2019, there were 45,524 reported car accidents in Washington State. Although 32,106 resulted in no injuries, 325 were fatal and 973 resulted in serious injuries.
https://www.weierlaw.com/dealing-with-an-auto-accident-in-washington-state/#:~:text=Washington%20State%20Car%20Accident%20Statistics,973%20resulted%20in%20serious%20injuries https://www.weierlaw.com/dealing-with-an-auto-accident-in-wa....
- bombcar 3y agoThe first dollar of insurance coverage is the most expensive, because any claim hits it. Going from $100k to $2m is often quite cheap, comparatively.
- seanmcdirmid 3y agoThe number of claims over $100k are much less frequent, which is why it is cheaper to raise your cap.
- xapata 3y agoIt seems like the ideal plan is a high-deductible with no maximum, like catastrophic medical coverage.
- xapata 3y agoI'd bet that the median claim is quite different than the mean claim, because the outliers are so large. Much like the "shocking" statements you hear about wealth distribution -- the largest 10 are bigger than the bottom 50% or similar. That's how log-normal distributions work. Though of course the Gini coefficient can vary.