Cars Are Becoming Too Expensive For Insurers To Replace
Summary: Insurance write-offs occur when the cost to repair a vehicle is more expensive than its value. In 2018, 19% of crashed vehicles were declared write-offs, rising to 27% in 2023 and projected to increase by another 5% in 2025. At the same time, auto insurance rates rose by 15% in 2024 and are expected …
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