US auto insurance coverage business exhibits ‘indicators of revolution’

Improve in miles traveled

Whereas mileage in 2021 did not fairly get well to 2019 ranges, it got here fairly shut. LexisNexis anticipates that 2022 might be one other extra “regular” yr by way of mileage. Together with the expansion within the variety of miles traveled is the variety of linked autos on the highway. These extra superior automobiles can present insurers with extra correct and complete mileage data. This permits for extra correct charges.