Plus by writing it off, the insurance company gets the salvage value (less selling costs), and in some circumstances the value of the remaining time left on the insurance policy.
For a younger driver and a recently taken out policy, the latter could be significant if the insurer won't transfer the remainder of the time left to another car. You need to read the small print carefully.
For a younger driver and a recently taken out policy, the latter could be significant if the insurer won't transfer the remainder of the time left to another car. You need to read the small print carefully.
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