Nearly 12% of all crashes result in a least one insurance write-off
Analysis of 40,000 collisions handled by Accident Exchange estimates that there are 258,000 write-offs annually, valued at almost £2bn.
The new investigation also highlights a clear summer-winter divide in the frequency of serious accidents that result in at least one vehicle being written-off.
November sees more insurance write-offs than any other month, with the final quarter of the year notching up 30% of the annual total. Summer months – May, June and July – see the fewest total losses.
And new car owners, who might be expected to be particularly careful with their vehicles, are surprisingly susceptible; more than 2% of vehicles written-off – equating to over 5,000 a year – are less than 12-months old.
Liz Fisher, sales director at Accident Exchange, commented: “A total loss generally indicates that a serious accident has taken place, and the research shows that they are perhaps more prevalent than anyone expects. The value of vehicles written-off annually is staggering.”