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.
Topics California Claims
Was this article valuable?
Here are more articles you may enjoy.
Florida Court Says 2020 Law Gives ‘Very Broad’ Liability Immunity to Rideshare Firms 
JPMorgan Banker Sues Ex-Colleague Over ‘Fabricated’ Sex Claims 
After Complaint, GEICO Agrees to Modify Cancellation Process That Uses AI 
Moody’s: US Faces $375B in Uninsured Flood Losses From 1-in-100-Year Event 
