ARE YOUR CUSTOMERS PREPARED FOR STORM DAMAGE BILLS?
Data shows car owners are bearing the brunt of the latest spike in La Nina storms with an increase in weather damaged vehicles expected
The latest data from AutoGuru and Openpay shows that drivers should be prepared this stormy season as it remains the most popular time for front windscreen replacement, with requests only set to increase.
In fact, The Bureau of Meteorology has recently confirmed the latest stormy La Nina cycle and cyclone Tiffany have no plans to slow down, so with expected storms across Australia continuing, damage for some car owners will be inevitable.
The latest data from automotive service booking platform AutoGuru and buy now pay later provider Openpay has found that the most popular servicing and repairs request at this time of year is front windscreen replacement, followed by tyre replacement, inspection, and repair, with requests increasing by 133 percent in recent months.
Yet with unpredictable weather looming, insurance premiums rising and costs increasing due to global supply chain issues, Australians will need to be doing their maths to cover the potential costs say experts.
While the average windscreen replacement currently costs $300-$600 depending on the make and model of your car, excess often sits at $500.
This could see many Australians looking to cover the cost themselves, rather than lowering their excess to save a couple of hundred dollars then shouldering the cost in hiked premiums in the long term.
With this financial strain, car owners are looking to alternative and more modern payment methods, as data from Openpay (Openpay sales data, Q4 2021) shows the average BNPL auto plan is valued at $662 with customers spreading this cost over an average of 4.3 months.
AutoGuru says this signals that customers are choosing methods that afford them greater flexibility for repairs and extras in this price
range rather than traditional insurance models during an already tricky time for cash-flow management.
“We know that storm season is upon us and
while we’re used to seeing increased windscreen repairs around this time of year, the extra uncertainty La Nina adds to the equation could see an uptick in windscreen damage – as well as more cosmetic damage that’ll need fixing in the long term,” said Kane Tierney, a Fleet Manager and Qualified Mechanic at AutoGuru.
For more from AutoGuru, visit www.autoguru.com.au