Written-off cars are simply ones which an insurance company doesn't think it's economic to repair. It doesn't mean they can't be, or should be (unless someone died in it, or it couldn't be made safe again). So, a written-off car will be cheaper because fewer people want to drive a previously damaged car. But bear in mind that fewer people will want it when you come to sell, so expect a lower price. And your insurer MIGHT charge you more for a car that COULD be a bigger risk if they are not convinced it's been properly repaired.
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With car insurance, like comedy, it seems timing is everything. MomeySavingExpert.com analysed 18m+ quotes from Jan to May (after requesting data from Compare The Market, Confused & MoneySupermarket) and were shocked to discover huge price variances depending on when you get a policy. The optimum time is 21 days before the new policy starts (which will be at renewal for most). Too early or too late and the price shoots up, as this graph shows. In fact, a typical policy would cost an avg £1,156 on renewal day, but £589 three weeks earlier. When MSE challenged insurers about it, some thankfully were open. LV told us: "One factor is the gap between the date the quote is requested and the renewal date. Our historic claims data shows riskier drivers renew their policies nearer to renewal.". |
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