With economic recovery and cheap gasoline prices, more people have taken to the road again. This increase in miles driven can be expected to drive up auto claim frequency – a key concern. Although miles driven are expected to grow further, projections from the FHWA suggest the rate of growth will slow in the next couple of decades, but it’s unlikely the industry will experience significant slowdown in the near term.
To check out the rest of the series visit CCC’s YouTube channel.