Los Angeles and Orange County are number one of the top 20 list for a second consecutive quarter for 2023 and stay at the top in theft claims handled by population.
Wheelnet, a provider for wheel and tire replacement for insurance theft and vandalism claims, reports its top market frequency for insurance-related wheel and tire claims through the fourth fiscal quarter of 2023:
- Los Angeles/Orange County led the nation in wheel and tire claims for the second consecutive quarter
- Frequency of wheel and tire claims across all U.S. markets was up 6% YOY in 2023 and 11% since Q1 2023
- Average severity continues to climb with losses commonly exceeding $3,000
Overall, frequency across all markets combined has been up 6% year-over-year and nearly 11% since March 2023. Average severity continues to climb as well, with nearly a double-digit increase in loss costs per claim.
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