\ Shortcut in Car Insurance Industry Creating Headache for Policyholders
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Shortcut in Car Insurance Industry Creating Headache for Policyholders

By Clip Syndicate

Learn what industry experts have to say about a controversial claims method.

http://eplayer.clipsyndicate.com/view/12508/7345154 Video: Shortcut in Car Insurance Industry Creating Headache for Policyholders
Learn what industry experts have to say about a controversial claims method.
http://chic.clipsyndicate.com/video/playlist/12508/7345154?cpt=8&wpid=2637 Mon, 16 Apr 2018 15:51:07 +0000 Shortcut in Car Insurance Industry Creating Headache for Policyholders Learn what industry experts have to say about a controversial claims method. http://chic.clipsyndicate.com/video/playlist/12508/7345154?cpt=8&wpid=2637 WTAT all ahead on fox twenty four news that the alot of us right we're talking car accidents big or small dealing with insurance and repairs can be anywhere from headache to a nightmare. well one thing auto insurance companies are featuring is a photo. estimating option reagan simply snap a picture of the damage send it your carrier and they mail you check. sounds easy right well unfortunately increase inconvenience can mean lower appraisals according to some so here to help us understand what consumers are getting themselves into its restive is key is executive director of the south carolina insurance association. thank you for being here think you are it's a first let me just make this claim that you are representing the insurance industry that's correct the south carolina insurance associations been in business for forty years. we represent currently about two thirds of the auto insurance market in south carolina. ok and as far as what the average policy holder pays maybe can take is down that road a little bed what is the average policy in terms of premium and obviously this will vary based on individual risk characteristics the limits that somebody selects and optional coverages that somebody may select to but the statewide average based on the numbers we had a couple years ago was about a thousand dollars in expenditures on average again that can vary based on your own individual policy right okay and for anyone who gets into a car accident was to say your average garden variety accident and what is the average amount that that is appraised at between damage to the car if your policy goes that what is the casa the consumer. so the average claim his increasing has been increasing for several consecutive years but for bodily injury we see that average claim being about seventeen thousand five hundred dollars we see physical damage or damage to vehicles averaging about thirty five hundred dollars obviously based on the accident we can see multiples of that saying we can also see things that are much more minor and if you are the one at fault in what is the increase in premiums for that purse that is much more harder to pinpoint because it's going to vary so much on the carrier thatcher with how long you've been with the carrier did you select accident forgiveness which is something that a lot of carriers offer. you know and have you had any additional claims so that is really going to just depend on you as an individual and also the insurance carrier that you and we hear about a lot a car accident happened in south carolina mean they happen everywhere across the country you have an average of the number of accidents of people get into your home so we do look at frequency of frequency has been on the rise. don't know that i could give you a you know per vehicle or how many are kicker happening. um but they're happening everyday and we've seen that increase over the last few years we have more people on the road so when you see that more people driving to and from work. you know in the congestion that we have during rush hour. you see more accidents more people moving here to write. yes populations growing as well trip so when someone gets into an accident. let's talk about the old fashion way so when someone gets into an accident what is the length of time that someone is dealing with the insurance carrier whether addressing any bodily injuries and from beginning to end what is the timeline that i knew were also here to talk about the photo less than a yes. so if we're looking at the old way of doing business the photo estimation process is designed to really increase efficiency for the policy holder. so where in the old way of doing it which by the way is still the way most people do it you would call your insurance carrier report a claim or a report damage they would schedule a time that works for you to have an adjuster come out look at the vehicle you know if there's any medical expenses obviously would be going to to a doctor in getting checked out things like that but just looking at the physical damage side the adjuster would come out give you an initial estimate then you would take it to either one to three body shop's get written appraisals than they would start doing the repairs. ok so that is going the old fashioned way face and having the adjuster there physically so when the adjuster comes not only are they saying the superficial damage but do they ever check under the hood do they look beyond what they see on the outside they can but much like with the photo estimate or you're not going to know one hundred percent with certainty the full extent of the damage until you've started making the repair some of these damages are going to be you know somewhat hidden so once you take the bumper off you realize that some of those expensive sensors that have wiring to the on board computer system that might be damaged shirt you might not see that until it's actually being worked on in the body shop. cars are getting more and more complicated there are much more computerized trades yet so there are many other things that you just addressed alright well we need to take a break but we're going to be caught talking a bit more about the




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