Top 25 Most Stolen Wheel & Tire Markets Released by Premiere Services
SANTA FE SPRINGS, Calif., October 27, 2020 (Newswire.com) - WheelNet, a Premiere Services company and the nation's leading provider of on-site wheel & tire replacement for insurance theft and vandalism claims, reports its top markets by frequency for insurance-related wheel & tire claims through the third fiscal quarter of 2020.
Baltimore/Washington D.C. tops the list for the third consecutive quarter of 2020 and remains the perennial leader in theft claims handled by population. The highest mover versus last year, Austin/San Antonio, was right behind, followed closely by Houston.
Overall, frequency across all markets combined has been up 16% YTD and almost 29% since March, the beginning of the pandemic period. Average severity continues to climb as well, with nearly a double-digit increase in loss costs per claim.
"In excess of 90% of the claims we handle are for OEM wheels, which is not surprising given the high cost of wheels and relative ease by which stolen wheels can be sold," states Laura Puente, President of Premiere Services. "Many metro markets are experiencing economic challenge, and with the average loss severity hovering around $3,800 and the relative liquidity of OEM wheels, thieves seem to be focusing in more on these components instead of the entire vehicle."
WheelNet is a national service that handles theft and vandalism claims on-site, virtually eliminating the need for a costly, and potentially damaging, flatbed tow. Claims handlers can send an assignment to Premiere Services via CCCOneâ, warm transfer phone call, email (claims@premiereservices.com), or through Premiere's secure online quick claim portal found at https://premiereservices.com/quick-claim-form/. There are no setup fees, additional costs or IT integration needed.
Premiere Services has been exclusively serving the insurance claims industry for 30 years. The company was started after Mark Puente experienced a theft loss, and after the claims were finished, he felt "there had to be a better way." That has been the guiding principle for the company since 1991.
For more information or to set up a demo, please contact Mark Puente at: 1-800-479-9945 or via email at: mpuente@premiereservices.com
Source: WheelNet by Premiere Services