The October 2015 CCC Trends video explores further demographic shifts in terms of where people are choosing to live and how that may be driving auto claim frequency trends.
Analysis of recent census data through July 2014 by William Frey of the Brookings Institute confirms populations in the U.S. large cities have continued to grow. Data from the U.S. Department of Transportation shows the U.S. population grew by 12.2 percent, from 282.2 million residents to 316 million between CY2000 and CY2013. In addition to shifting to the West and South, the U.S. population has become increasingly urban, with the most growth occurring in the suburban areas. With suburban residents typically relying on their vehicles to commute to work and other places, this is yet another factor adding to increased road congestion in the U.S. Nationally, the U.S. has seen steady growth in the overall number of miles driven and the growth in new vehicle registrations.
To check out the rest of the series visit CCC’s YouTube channel.