Recent Auto News
Columbus Scrap Cars is here in our forum delivering the latest news and insight into topics such as auto junk and scrap, information for those that buy junk cars and other recycling topics. We are a buyer of scrap vehicles in Groveport, Hilliard and New Albany. Those seeking cash for cars in Worthington, Brice and Harrisburg can contact our buyer of scrap vehicles 6 days a week for a junk car quote. Auto junk and scrap removal is included in our cash for cars price throughout Marble Cliff, Minerva Park and Obetz. Our next topic explains how the vehicle insurance industry has been negatively impacted this past year.
A January 17, 2016 article composed by Bob Bryan on businessinsider.com titled ‘Hasn’t been this bad for the auto-insurance industry” told us the following: “To hit the open road, you typically need a car & car insurance. One could assume that as the car industry boomed in 2015, exceeding sales records, it would be the same trend for the auto-insurance industry. Jay Gelb, an insurance analyst at Barclays, says underlying profitability for the personal auto insurance industry, dipped to the lowest level in fifteen years in in the 3rd quarter this past year. There are a multiple reasons for this dip, but it basically all boiled down to one: A stronger economy. He says that these auto premiums are impacted by macro conditions since employment levels & consumer confidence influence newer vehicle sales. New car sales impact the volume of registered automobiles on the road. The more cars out on the roadways increased the probability for accidents. More accidents lead to more auto insurance claims. Claims cause lowered profit margins for these auto insurance companies. Additionally, people are driving cars further distances because of cheaper gas prices and increases in discretionary income; this contributed to a higher frequency of auto accidents.
Gelb says that the miles driven accelerated in 2015, resulting in accelerated motor vehicle accidents. The increase in crashes is also a reversed, increasing for (3) years straight for the first time in decades. Allstate said their earnings were down 38% 2014 because of the rise in frequency & severity of accidents. Typically, an owner pays a higher premium for a newer car, so if involved in a crash, the margin of the loss is smaller. Older cars with a lower premium, causes insurers to lose more on those. Consumers own vehicles for approximately an average of eleven years; this trend constrains auto insurance premiums because newer cars are more expensive to insure than older ones. Finally, healthcare & repair costs are on the rise, increasing pay-outs insurers are make; insurers face low premium growth, higher claims, and higher levels of payments. Insurers have higher prices, but the costs are rising too fast to keep profits up.” The complete article is available at this link.
Auto junk and scrap
We buy junk cars with titles, paying cash for cars in the regions of Urbancrest, Valleyview, and Blendon. When we pay cash for cars in the greater Columbus area we exercise the most environmentally sound practices and procedures into play. Many of the components that are found in auto junk may have potentially toxins such as oil, antifreeze and other such liquids. This is why a buyer of scrap vehicle must maintain their commitment to eco-friendly disposal when the buy junk cars. We are offering scrap car removal and junk car hauling services in the areas of Clinton, Franklin and Hamilton. Those looking to sell an old vehicle for scrap in the (614) should make the correct environmental decision to use Columbus Scrap Cars. Our junk car buyer will provide you a price for a wrecked car or damaged car in the regions of Madison, Mifflin and Norwich. Residents of Montgomery, Huber Ridge and Lake Darby that are seeking to sell a car for cash can contact us at (614) 715-5005.