Collision Repair Costs Down

From American Agent and Broker

Thought just the economy was down and trucking insurance rates were down, how about collision repair costs?

Well they are down too. 3% as a matter of fact.

The decrease us due to recession-related factors and reflects the aging fleet and lower actual cash values.

The average gross collision value of a private passenger vehicle is $2729 ( probably higher if a tractor-trailer hits it). The average cash value of vehicles appraised for collision losses is $11,995.

The average gross third party property damage appraisal caused by an insured driver is $2156 (again probably higher if hit by a tractor-trailer). The average cash value for vehicles involved in property damage claims is $10,741.