As U.S. auto insurers gear up for a spike in accidents during Thanksgiving week travel, new research from Progressive offers a predictor of the types of claims spikes carriers will likely face and when they might happen.
Among the findings: 58.5 percent of single vehicle accidents on Black Wednesday typically involve slamming into an animal or objects. Also, the Sunday after Thanksgiving produces the highest percentage of out-of-state accidents on any day during the holiday week, as drivers head home.
Progressive’s report is based on an evaluation of Thanksgiving week claims data dating back to 2010. The auto insurance giant compared the claims to events two weeks before Thanksgiving and two weeks after, and found that Thanksgiving accidents products claims jumps at significant times.
Here are some of Progressive’s findings in detail:
To reduce the risk of Thanksgiving week accidents, Progressive recommends close attention to the street, designated for those who go out on Black Wednesday, and strategic store parking on Black Friday to minimize risk.
Rather than travel home on the Sunday after Thanksgiving, Progressive said the day after – on Monday, is actually the safest day to return home, with 37 percent fewer accidents compared to the day before.
*Source: The Progressive Group of Insurance Companies