With Barbados averaging about 15 vehicle collisions per day, a leading insurer says this is no longer sustainable as it is costing the country hundreds of thousands of dollars in damage.
Addressing a defensive driving seminar last Saturday, organised by Co-Operators General Insurance Company in celebration of its 35th anniversary, chief executive officer Anton Lovell said that the costs for repairs had risen sharply.
“Over the past two years, we have been averaging over 200 motor vehicle accidents monthly. That averages about seven collisions per day involving our policyholders, with the national average around 15 collisions a day.
“With the rapidly increase of motor claims, you would appreciate that this is not sustainable. In the past, a collision was creating a cost of $6 000. Today, it involves around $10 000 and the major garages are struggling to keep up with securing the needed replacement parts, which is denying persons the use of their vehicles for four months and more,” he told the seminar held at the Lloyd Erskine Sandiford Centre. (KB)
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