39% of non-fault accidents happen to motorists driving a vehicle they have owned for less than a year, according to analysis by AX, the leading accident aftercare provider to the automotive, insurance and broker industry.
Moreover, more than one in 10 (11%) non-fault incidents befall drivers in their first 90 days of ownership, underlining the importance of brokers educating new policyholders about what to do in the event of an accident.
With brand new 69-plate vehicles arriving now, the analysis presents a real opportunity for brokers to support more at-risk new car owners, educating policyholders and providing them with a seamless claims journey that can improve customer service and boost retention in the process.
Market analysts at AX found that the second month of ownership – be that new or pre-owned – accounted for 4% of all its recorded annual non-fault claims. Drivers are also 50% more likely to suffer an incident in their second month of ownership than in the 12th month.
AX analysed data on more than 68,000 non-fault incidents, from car park scrapes to roundabout bumps.
“These are eye-opening figures for the insurance and broker industry,” explains Steve Molloy, Director of Commercial Sales at AX. “It’s an interesting trend for brokers to consider, and with so many new car owners involved in accidents it presents a real opportunity for brokers – now and in the long term.”
“By implementing a high-quality claims journey that really champions policyholders – and delivering a clear claims reporting road map– brokers can make a real statement of reassurance with new car owners, whilst boosting their retention with a ‘customer-first’ service.”
By comparing car ownership with the population density of UK towns and cities, it found that West Midlands town, Walsall, is statistically the unluckiest place in the country for such incidents. It was closely followed by Preston and Stockport.
Britain’s second biggest city, Birmingham was in 12th place and Manchester in 10th. Although London features by far the highest number of accidents within the first 90 days of ownership, it did not make the top 20 unluckiest towns and cities because it has a proportionately higher population.
AX provides a class-leading suite of accident assistance services, as well as innovative connected devices, management software and intelligence designed to help dealers retain customers and improve satisfaction.
AX is the accident aftercare partner to a significant number of brokers and insurers in the UK personal lines market.