FOR IMMEDIATE RELEASE
Santa Fe Springs, Calif. (February 13, 2024) – WheelNet, a Premiere Services company and the nation’s leading provider of on-site wheel & tire replacement for insurance theft and vandalism claims, reports it top markets by frequency for insurance-related wheel & tire claims through the fourth fiscal quarter of 2023.
Los Angeles/Orange County tops the list for the second consecutive quarter of 2023 and remains the perennial leader in theft claims handled by population. It is followed closely by Oakland/San Francisco. The highest mover versus last year, Chicago, comes in just slightly behind Houston in terms of frequency.
Top 20 Wheel & Tire Claim Markets of Q4 2023
* Top market in Q3 2023 as well
** Markets with the highest YOY increases
0%
Year-to-date increase in frequency across all US markets0%
Increase since March 2023Overall, frequency across all markets combined has been up 6% year-over-year and almost 11% since March 2023. Average severity continues to climb as well, with nearly a double-digit increase in loss costs per claim.
“In excess of 95 percent of the claims we handle are for OEM wheels,” states Chris Sestito, Chief Operating Officer of Premiere Services. “OEM wheels are very easily resold on the open market and via social media sites."
“It is not uncommon to see wheel and tire sets for sale literally hours after a reported theft. And with the increased cost of the parts, especially wheels, it is not uncommon to have a loss exceeding $3,000 and approaching $4,000,” continues Sestito. “Our role in the industry is to assist with replacement on-site, eliminating the cost of a tow and enhancing vehicle owner satisfaction.”
Chris Sestito
Premiere Services
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 CCCOne®, 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 Chris Sestito at 800-479-9945 or via email at csestito@premiereservices.com.
About Premiere Services
Premiere Services offers a national service that handles theft and vandalism claims for all private passenger vehicles and the majority of commercial vehicles. Claims handlers can send an assignment to Premiere Services via CCCOne®, 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 integration needed.
Premiere Services has been exclusively serving the insurance claims industry for 30 years. The company was started after Mark Puente experienced a theft loss, and after the claim was finished, he felt “there had to be a better way”. That has been the guiding principle for the company since 1991.
For more information or to set up a demo, please contact Premiere Services at 800-479-9945 or via email at marketing@premiereservices.com.
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