Insurance Claims Analysis

incident_type median_auto_year median_claim_amount median_age Totals
Multi-vehicle Collision 2006 61650 39 419
Parked Car 2005 5490 37 84
Single Vehicle Collision 2005 62640 38 403
Vehicle Theft 2005 5495 38 94

According to the table above, at 61650 and 62640 respectively, multi-vehicle and single vehicle collisions have the highest median claim amount value. More damages are incurred during collisions as opposed to when the car is stationary, as is the case for parked cars and vehicle theft claims.

time_frame median_auto_year median_claim_amount median_age Totals
10a.m.-4:59p.m. 2005 61490 38 293
10p.m.-midnight 2006 62920 39 89
5p.m.-7:59p.m. 2005 60190 40 135
6a.m.-9:59a.m. 2005 40320 38 163
8p.m.-9:59p.m. 2005 60205 39 76
midnight-5:59a.m. 2005 52590 36 244

When split by time periods, the period between 6AM and 9:59AM has the lowest median claims amount, which is roughly 20,000 less than four of the five remaining time periods. It has the third highest number of claims at 163 however. Therefore, their is highly possible that in that time period, there are more claims involving stationary vehicles because they have the least median claim amounts value as seen in the first table.

time_frame incident_type median_auto_year median_claim_amount median_age Totals
10a.m.-4:59p.m. Multi-vehicle Collision 2007 60750 38 137
10a.m.-4:59p.m. Parked Car 2004 5900 40 7
10a.m.-4:59p.m. Single Vehicle Collision 2004 63700 39 138
10a.m.-4:59p.m. Vehicle Theft 2005 6820 40 11
10p.m.-midnight Multi-vehicle Collision 2008 64800 40 41
10p.m.-midnight Parked Car 2013 5700 41 3
10p.m.-midnight Single Vehicle Collision 2004 62640 37 45
5p.m.-7:59p.m. Multi-vehicle Collision 2005 61400 41 65
5p.m.-7:59p.m. Parked Car 2011 6490 37 5
5p.m.-7:59p.m. Single Vehicle Collision 2005 61110 41 62
5p.m.-7:59p.m. Vehicle Theft 2000 5100 28 3
6a.m.-9:59a.m. Multi-vehicle Collision 2004 64320 39 41
6a.m.-9:59a.m. Parked Car 2006 5830 39 34
6a.m.-9:59a.m. Single Vehicle Collision 2006 63685 38 46
6a.m.-9:59a.m. Vehicle Theft 2006 4975 38 42
8p.m.-9:59p.m. Multi-vehicle Collision 2005 61440 39 47
8p.m.-9:59p.m. Parked Car 2004 5005 32 2
8p.m.-9:59p.m. Single Vehicle Collision 2005 59355 38 22
8p.m.-9:59p.m. Vehicle Theft 2005 6500 35 5
midnight-5:59a.m. Multi-vehicle Collision 2006 61625 37 88
midnight-5:59a.m. Parked Car 2004 4900 34 33
midnight-5:59a.m. Single Vehicle Collision 2005 60185 36 90
midnight-5:59a.m. Vehicle Theft 2004 5220 39 33

When sliced by time frame and incident type, the single digit number of claims either involve vehicle theft or parked car incidents. Most of the claimants seem to be from areas without many stationary car incidents.

According to the graph above, the highest number of claims are for incidents that happen between 10AM and 4:59PM. There could be two reasons for this. First, that is a 7 hour period compared to the other time periods on the graph. Second, there might be more incidents during the day because most people drive then. Additionally, the proportion of stationary car incidents is the highest between 6AM and 9:59AM as I speculated from the second table.

The proportion of multi-vehicle collision claim amounts is significantly higher between 8PM and 9:59PM as compared to the other time periods. More multi-vehicle collisions occur during that time period as can be inferred from the previous graph as well.