Vehicle total loss incidents are leaving many unable to afford replacement cars, even with comprehensive insurance policies. According to GAP Insurance provider, ALA Insurance, 62% of drivers could not afford a like-for-like replacement vehicle using their comprehensive insurance payout alone despite 63% incorrectly believing that they would get what they … [Read more...]
Used cars with hidden hit histories
UK drivers are at risk of making a huge mistake when buying used cars, as seven in 10 admit to not knowing what it means when a car has a category S or N insurance classification against it. This means the vehicle was ‘written off’ after being involved in an incident that resulted in an insurance claim. Being unable to identify these categories could mean … [Read more...]
Write-offs are worrying more drivers
Almost one in three (32%) UK drivers have had a car written off by an insurance company (men 35% and women 30%) and 8% twice or more. London drivers are the most likely to have written off a car, with almost half (48%) having had a car written off by an insurance company. This is almost twice as high as other regions including Wales (23%) and the West … [Read more...]
Depreciation despair for drivers
With new 21-numberplate cars now on sale, GoCompare Car Insurance is urging drivers looking for a new car to think about depreciation and the possible impact on their insurance. Depreciation is one of the biggest costs of running a car. The price of a new car falls dramatically as soon as it is driven off the forecourt. Depending on the make and model, … [Read more...]
Premiums and write-offs lower in Wales
Insurance premiums in Wales have dipped by about 5% over the last 12 months, as a report shows fewer cars are written off in Wales after accidents. The change was less over the summer at approximately 3% compared to the summer of 2019, according to figures from Comparethemarket. In Wales this year, the average premium is £572.33p and the UK figure is … [Read more...]
Motorists admit taking risks in floodwater
Despite the obvious dangers of floodwater to car and, at worst life, one in 20 motorists (5%) admit to having driven through floods only to have their vehicles grind to a halt, either still in the water or just after coming out, says the RAC. While the vast majority of those (63%) were lucky to get away without suffering major damage once the vehicle had … [Read more...]
Write-off changes surprise for some
As we enter the peak period for second hand car sales a survey of 100 consumers by vehicle history checker mycarcheck.com found that 89% were unaware of the recent write-off category changes. In October 2017, the old A, B, C and D categories were replaced with new codes, which focus on safety rather than the cost of repair: A (scrap), B (break), S … [Read more...]
Write-offs and your rights explained
The Financial Ombudsman regularly deals with complaints from people who believe that their insurer has not properly valued their car after it has been damaged to the extent that its insurer decides it is a ‘write-off' and uneconomical to repair. Typically, cars are considered to be a total write-off when they have been so severely damaged that they cannot … [Read more...]
