Halloween averages highest number of claims for any holiday throughout the year

Posted by | October 30, 2014 | Auto, Personal Lines | No Comments

Trick or treatWith Halloween only a day away everyone is admittedly focusing on tricks, treats and what they are going to wear but the results of a Highway Loss Data Institute (HLDI) study should get some attention.

Finding a secure place to park should be at the top of your to-do list this week considering the HLDI analysis found your personal vehicle is twice as likely to be vandalized on October 31st as on an average day.

The vandalism claims data came from 28 companies representing approximately two-thirds of the entire insurance market for private passenger vehicles. Moreover, the average number of claims on the day for all the companies combined was 692.

Cost per claim averaged out at $1,528 amounting to an average total cost of more than $1 million per day.

Unsurprisingly, Halloween had the highest average number of claims for any holiday throughout the year at 1,253. Christmas and Thanksgiving had an average claim rate below that of the regular overall daily average.

The Fourth of July ranked second with 987 average claims per day, followed closely by New Year’s with an average claims per day of 944.

The HLDI also found vandalism occurs more frequently on weekends and in the summer. The number of claims was 16 percent higher than average on Saturdays and 7 percent higher on Sundays. The other days of the week all had an average or below-average number of claims. Looked at by month, claim numbers were highest in July, followed by August and June.

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