June 29, 2017

Insurers brace for accident-prone holiday weekend

Drivers on Interstate 84.

As Connecticut travelers get ready to hit the road this extended holiday weekend, property and casualty insurers, including Travelers Cos. and others, are bracing for an impact on their bottom lines.

That's because Fourth of July is the most dangerous of the three summer holidays for auto accidents, according to a new report put out by Travelers.

According to the insurers' personal insurance auto claim data from 2012 to 2016, there are 7 percent more auto accident claims over the Fourth of July and three days leading up to it, as compared to Memorial Day and Labor Day weekends.

Additional claims, of course, lead to higher costs for property and casualty insurers like Travelers, which has a major Hartford presence, and The Hartford.

Meantime, the Fourth of July holiday has ranked on average as the deadliest day for drivers for the past decade, according to the Insurance Institute for Highway Safety.

This holiday weekend AAA is predicting heavier-than-usual traffic, with about 44.2 million Americans expected to hit the roads and travel at least 50 miles.

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