Fewer Car Crashes

Fewer Car Crashes

Greek insurance market is getting positive feedback from analyzing the statistical data on motor liability claims reimbursements.

According to recent corporate data, this year there has been a reduction in the frequency of accidents by 7.8% to 8% compared to 2012, due to lower driving speeds, and noticeable fewer cars on the roads.

At the same time, the average claim cost of motor damage reduced this year to 850 from 915 euro last year. This development is largely due to more intensified audits taken by insurers per car accident case.

Additionally, the insured turn more and more towards less expensive spare parts, avoid repairs not directly related to the safety of the vehicle, while 35-40% have now turned to garages that collaborate with their insurer in order to reduce their costs and not engage in the financial transactions necessary by choosing to repair their vehicle in a “non-collaborating”  garage (payment of invoices-collecting all or part of the compensation from the insurer).

In any case, this development has led to reducing the average cost of claims, given that insurers through garage collaborations are able to better control reimbursements.

Note that before the economic crisis, only 20% of the insured turned to collaborating garages.

Click here for the Greek Article.

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