By John Wolford, Director of Vendor and Client Services, CEI
If you seem to notice that collision repairs are costing more than they used to, you’re right.
According to CCC Information Systems, a source of data for the auto insurance industry, since the end of 2008 the average cost to repair a damaged vehicle rose more than 13%, from $2,399 to $2,766 in 2015.
What’s the cause? Greg Horn, a vice president at Mitchell International, another provider of auto insurance claims data, attributes most of the increase to the rising cost of parts. “Even when adjusted for inflation,” Horn wrote in Mitchell’s latest report, “we found that new, popular passenger cars do cost more to repair than they did five years ago. Despite multiple variables, including the cost of…service hours, parts has had the highest impact on collision repair costs overall.”