As of May 15th, this is the current labor rate averages nationwide in 2008. The national paint and materials average is at $26.87.
Some key cities of note:
Atlanta $41 body/paint $59 frame $67 mechanical
Dallas $38 body/paint $39 frame $72 mechanical
Data source: © 2008, AutoClaims Direct, DirectLink
In the Wall Street Journal Article ( Click Here ) it states 2008 is looking to be a tough year for auto insurance carriers. According to the article, the author believes claims may run higher due to the economic downturn with vehicle owners turning in claims they normally would have paid out of pocket for. The question remains if this will fully play out. Many owners may not turn in claims due to their inability to pay their deductible, therefore reducing claim volume.
Progressive Insurance, one of the largest auto insurance carriers nationwide saw a fall in profits of 20% in April. The combined ratio grew 2.9 points. Click here for the detailed story.