People have seen car insurance premiums jump as parts and labour shortages hit. AMA Group is among smash repairers trying to navigate the market.
Insurers have written off cars that would normally be fixed because the waiting time for parts or repairs is so long, the cost becomes too expensive, smash repair giant. It also goes to a battle between insurers to maintain margins and repairers such as AMA, which have sought better prices for fixing cars.AMA, which has more than 140 repair sites in Australia and New Zealand trading under brands including Gemini, outlined losses for the six months to December 31 of $27.2 million.
He said lead times to get vehicles into repair shops varied in locations, but those suffering currently included Perth and Melbourne. “Sometimes it could be up to five to six weeks,” he said, whereas that might have been three weeks.That time, plus a parts delay due to logistical logjams striking since COVID-19, could cause problems for insurers.
AMA has been trying to renegotiate deals with insurers, its main customer base, to repair cars amid a margin squeeze. Last August, AMA said it dumped almost $80 million in insurer contracts because of an inability to come to new terms. Mr Bizon said agreements had since been reached with two of those insurers, indicating some resistance from others.AMA had also renegotiated interim terms with insurance giant Suncorp to repair cars at AMA’s Capital Smart shops.
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