Are Rising Insurance Premiums Eating the Mobility Industry Alive?
Some days it feels like insurance is devouring the entire mobility economy, with rising premiums taking down transportation options new and old alike. Auto insurance premiums have jumped a whopping 64% in the past five years, driven partially by a labor shortage but even more by the fact that cars have become computers on wheels, and your average sensor + chip stack doesn’t take kindly to being in a fender bender. Re-calibration of driver assistance systems in late model cars has quickly climbed to 36% of total repair estimates, averaging around $1.2-2.5k per claim.
While this can be a…
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