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Key Takeaways:
- [0:30] Today’s guest is Patrick Lynch, VP of Sales of Automotive Solutions at Allied Solutions.
- [1:19] Due to the pandemic's supply chain issues, vehicle values surged, causing a temporary decline in Gap insurance claims.
- [3:03] Patrick discusses how Tesla's anticipated 20% depreciation led to EVs' high total losses and significant gap claims.
- [5:13] Inflationary pressure on repair costs drives higher total losses and increased delinquencies.
- [6:45] Patrick warns that the average 12.5-year-old vehicle faces increased risk, aligning with financial challenges.
- [9:54] California's AB 2311 focuses on indirect gap channels, while SB 1311 poses challenges, limiting service members' protection options.