Auto Repair Industry

THE INSURANCE INDUSTRY’S CONTRIBUTION TO THE AUTO REPAIR INDUSTRY

The primary recipients of auto insurance claim payments are auto repair and auto body shops and window glass installers. Others include new and used car dealers, tire dealers and manufacturers of the parts required for vehicle repair and restoration.

Collision and comprehensive coverages pay for damage to or theft of a policyholder's car. Additional sums are paid by insurers to repair other vehicles damaged by the policyholder in a crash. This money is paid under the liability portion of the policy, which also covers legal costs.

INCURRED LOSSES FOR AUTO INSURANCE, 2009-2013 (1)

($000)

  2009 2010 2011 2012 2013
Private passenger auto          
     Liability $63,448,211 $64,110,267 $64,310,776 $65,135,976 $67,879,783
     Physical damage 36,497,330 36,454,102 40,589,159 41,275,620 41,754,269
Commercial auto          
     Liability 9,345,288 8,798,119 9,363,647 10,515,806 11,302,794
     Physical damage 3,005,162 2,911,013 3,164,880 3,250,740 3,255,581
Total $112,295,991 $112,273,501 $117,428,462 $120,178,142 $124,192,427

(1) Losses occurring within a fixed period, whether or not adjusted or paid during the same period, after reinsurance transactions.

Source: SNL Financial LC.

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