Brits fork out £415 on average for a car accident – and it increases your insurance premium by almost 10 per cent


CRASHING your car can have a significant impact on your health and confidence behind the wheel.

But a new report has revealed how damaging an accident can be on your personal finances.

 The average cost of having an accident is £415

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The average cost of having an accident is £415Credit: Getty – Contributor

Recent data obtained by MoneySuperMarket has revealed the true cost of having a car accident is £415.

The average cost was calculated based on feedback from motorists who had paid for repairs themselves or made a claim on their insurance and paid the excess charges.

Drivers who opt to claim the repairs on their insurance can also be hit with a 9 per cent increase to their premium when they renew their policy – the equivalent of £69.

The poll of more than 2,000 Brits revealed more than a third of Brits have been involved in an crash in the past five years.

 Having a crash can add an extra £69 on your insurance when renewing your policy

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Having a crash can add an extra £69 on your insurance when renewing your policyCredit: Alamy

Despite this, a quarter of those didn’t make a claim on their insurance following their prang.

The most common repairs undertaken were to paintwork (45 per cent), bumpers (39 per cent) and lights (29 per cent).

Almost 20 per cent of drivers have paid up to £100 in repairs and any associated insurance costs on top of their policy, while a quarter have forked out between £201 and £400.

Shockingly, one in ten drivers had spent between £801 and £1,000 following an accident.

Dave Merrick, car insurance expert at MoneySuperMarket, said: “Our research shows that claiming after an accident could potentially add £69 to your premium, which may explain why a quarter of drivers who have an accident do not make a claim to their insurer.

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“In some cases, it can be more cost efficient to make a claim rather than paying for the costs yourself.

“Whatever you decide, you should always let you insurer know.

“Most policies will have a clause that requires you to declare any incidents, regardless of who is at fault. Failing to do so could invalidate your policy.

“It’s really important that you choose the right level of cover for your needs, as an accident can happen anywhere at any time.

“The most popular policy type is fully comprehensive, not only because it covers drivers for the widest range of eventualities, but also because it tends to work out as the cheapest type of cover, with the average policy costing £459.”





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