Premiere Services Releases Report on Top 20 Wheel and Tire Claim Markets of Q1 2024

Nationwide provider of onsite wheel & tire replacement services reports top markets by frequency for insurance-related wheel and tire claims through Q1 2024.

SANTE FE SPRINGS, CALIF., UNITED STATES, June 20, 2024 /EINPresswire.com/ -- WheelNet, a Premiere Services company and the nation’s leading provider of on-site wheel & tire replacement services for insurance theft and vandalism claims, reports the top markets by frequency for insurance-related wheel & tire claims through the first fiscal quarter of 2024.

Highlights from the Quarterly Report:
• Los Angeles/Orange County tops the list for a fourth consecutive quarter with an annual increase exceeding 7 percent, symbolic of the ongoing issues facing the market
• Atlanta was the biggest mover, jumping from #6 to #2 overall and leap-frogging Oakland/San Francisco, which moved down one slot to #3
• The Dallas/Fort Worth market showed the most significant improvement in terms of declining rank, dropping from the 16th market to the 20th
• San Diego was the only market to earn a place on the Top 20 list, slotting in at #19, the spot held previously by Seattle, which fell out of the Top 20

Top 20 Wheel & Tire Claim Markets of Q1 2024

1. Los Angeles/Orange County*
2. Atlanta**
3. Oakland/San Francisco
4. Chicago
5. New York City/Newark
6. Baltimore / DC
7. Houston
8. Las Vegas
9. Miami / Fort Lauderdale
10. Philadelphia
11. Phoenix
12. Austin/San Antonio
13. Minneapolis
14. Sacramento
15. Portland
16. Denver
17. Detroit
18. Tampa/Saint Petersburg
19. San Diego***
20. Dallas/Fort Worth

* Top market in Q4 2023 as well
** Markets with the highest YOY increases
*** New market this quarter

Overall, frequency across all markets combined is up 6 percent year-over-year, a half-percent increase above Q4 2023 and almost 14 percent since January 2023. Average severity also continues to advance, with increases in lost costs per claim approaching double-digit growth.

“Wheel and tire theft continues to be heavily concentrated on OEM parts, particularly among popular, mid-range model vehicles such as the Honda Accord, Toyota Camry, and Nissan Altima, as well as popular pick-up trucks including the Dodge RAM series and Toyota Tundra and Tacoma models,” states Mike Swenson, Chief Operating Officer of Premiere Services.

“We believe the frequency of thefts is being driven by the high demand for replacement OEM wheels on popular vehicles, combined with the relatively high cost of replacement,” Swenson says. “It is becoming increasingly commonplace for us to see claims exceeding $4,000.

“To best serve carriers and their policyholders, we manage these claims by providing mobile, on-site replacement options through Premiere Services’ WheelNet service. We constantly seek ways to reduce costs while adding value, for instance, eliminating the cost of a tow, while also enhancing owner satisfaction by delivering greater convenience and avoiding hassles,” Swenson concludes.

Excellent and industry-leading services like WheelNet have earned Premiere Services an extremely impressive Net Promoter Score (NPS) of 77.8 among insurance adjusters participating in a recent anonymous survey. An NPS score above 30 is considered “Great,” and a score between 70 and 100 is considered as “Excellent.”

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 CCC One, a 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 integrations needed.

For more information or to set up a demo, please contact Mike Swenson at 800-479-9945 or mswenson@premiereservices.com.

ABOUT PREMIERE SERVICES
Premiere Services has been exclusively serving the insurance claims industry for 30 years. The company's idea began when Founder Mark Puente personally experienced a theft loss. After the claim was finished, Mark felt “there had to be a better way.” That has been the guiding principle for the company ever since its founding in 1991.

For more information or to set up a demo, please contact Premiere Services at 800-479-9945 or via email at mswenson@premiereservices.com.

Michael J Dunklee
Mace Strategic Communications
+1 734-679-7015
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