The cost of new car repairs has been steadily rising over the years. Increased complexity, new components, and a trend towards non-repairable energy-dissipating elements mean that if you’re in a prang in a new car, you’re likely going to have to pay more than ever to get it back to showroom condition.
Predictably, the rise in average repair costs – an increase of 36 percent since 2018 – is having a knock-on effect on insurance premiums. According to Mitchell, a company that tabulates data from insurance and auto repair, insurance rates are up by 17 percent in the last 12 months through May.
Read Article