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Collision repairers have been citing higher deductibles
and fewer drivers with collision insurance coverage as disturbing trends
over the past several years, but a recent study by analytics firm Quality
Planning finally put some hard data behind it.
The study found that the rate of people opting out of
collision and comprehensive insurance rose from 2006 to 2010, especially in
those cars 10 years or older. It pinpointed an increase from 53 to 63 percent
of older vehicles without collision or comprehensive coverage over that period.
For those owners who did purchase collision and other
comprehensive policies, there was a large increase in those opting for higher
deductibles. From 2006 to 2009, there was a decline of 9 percent for those who
had low collision coverage (below $250). Those who had higher deductibles ($251
to $500 and $501 to $1,000) increased between 1.6 and 4.9 percent each year.