Runzheimer, a leading business vehicle technology and solutions
provider, announced today its outlook for vehicle insurance premiums in
the U.S. over the next three to twelve months. Experts regard late
August through the end of September as peak hurricane season, and
Runzheimer noted that Hurricane Harvey, along with other potential
storms, could also drive up costs.
Runzheimer researches insurance rates and gathers quotes from locations
around the United States for a wide range of vehicles on a weekly basis.
The company uses this data along with trend information on driving
habits, accident frequency and severity, and claims costs to compile its Vehicle
Insurance Trend Report, explaining several factors affecting the
outlook on auto insurance.
"As our Vehicle Insurance Trend Report describes, insurance continues to
be a significant and growing component of vehicle costs," said Heidi
Skatrud, Senior Vice President of Operations and Product Management for
Runzheimer. "From July 2016 to June 2017, it accounted for 17.9 percent
of the total cost to own and operate a vehicle. As a percent of total
vehicle costs, this component grew by 1.7percent in the last year and
9.8 percent over the last two years."
Highlights from this year's trend report include:
"The statistics in this report, which take into account these trends as
well as the impact of recent and potential natural disasters, indicate
that vehicle insurance premiums will continue to rise," said Ms.
Skatrud. "We are watching closely the potential impact Hurricane Irma
might have on projections if it makes landfall in the U.S. and, as
needed, Runzheimer will adjust its projections accordingly."
Runzheimer works with companies of all sizes to ensure their drivers
have auto insurance for business use, and to help manage risk.
For more information, download a copy of the full trend report at https://www.runzheimer.com/insurance.
Runzheimer, a business vehicle technology and solutions provider, is the
recognized leader in mobile workforce management. We help organizations
increase agility, reduce costs, and improve satisfaction through fair,
accurate and defensible™ vehicle reimbursement programs. Our solutions
deliver an effortless experience for employees while providing data,
visibility and actionable intelligence for managers and executives. It
is our mission to offer mobile technology and solutions that connect
people, companies and their vehicles to drive superior productivity and
valuable business intelligence.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170907006336/en/
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