During the final quarter of 2023, wheel and tire theft claims were up 6% year-on-year and nearly 11% compared with March 2023, according to WheelNet, a division of Premiere Services.
In addition, severity was up nearly double-digits in lost cost per claim, WheelNet reported.
Chris Sestito, chief operations officer at Premiere Services, explains that while there is a wide variety of auto coverages and terms, in general, most auto insurance policies cover the wheels and tires up to a specified amount over the policy-defined deductible.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
