Have an accident in Wales and your car is less likely to be written off than any other part of Britain, according to the latest analysis.
One in three (37%) UK drivers have had a car written off by an insurance company, with this rising to two fifths of men (41%), compared to a third of women (33%).
In the Opinium survey of 2,000 UK drivers, for InsuretheGap.com, a leading provider of Guaranteed Asset Protection insurance for new and second-hand cars, London drivers are the most likely to have written off a car, with three fifths (60%) having had a car written off by an insurance company.
This is four times higher than drivers in Wales (13%), the lowest region in the UK, and three times higher than drivers in the North East of England (20%).
If a car is written off, the insurance company usually only pays out what the car was worth at the time of the incident. Because of depreciation, this can be significantly less than the amount it was bought for.
The survey found that more than half of drivers (57%) said that if their car got written off and the insurer only paid out half of what they had originally paid for it they would not be able to get the same car again. This rises to two thirds (68%) of under 34s, compared to 44% of over 65s.
Almost a third (31%) have had a car written off because of damage, and 8% have had a car written off because of theft.
Ross Callander (above), from InsuretheGap.com said, “If your car is written off, the insurance company will usually only pay its value at the time of the incident, not what you paid for it.
“It also won’t take into account whether you’re still paying back finance on it. GAP insurance can be bought to cover the difference between what you paid for the car and the value when it’s written off.
“You can also buy policies which cover outstanding finance costs after a vehicle is written off. GAP insurance is available from standalone providers, like InsuretheGap.com, for usually significantly less than the insurance offered by the car showrooms. It’s always best to shop around.”