Warrington, March 6, 2025 – A recent Freedom of Information request by claims management company Allegiant Finance Services has uncovered alarming statistics regarding the number of vehicles written off by insurers in the UK. According to newly obtained DVLA data, a total of 3,067,124 vehicles were written off between 2019 and 2024. This represents a significant increase of 46% since 2017.

In 2024 alone, 562,185 vehicles were recorded as written off, equating to one car every minute. This trend demonstrates the growing prevalence of vehicles being deemed uneconomical to repair by insurers. However, Allegiant Finance Services has raised concerns that many consumers may not be receiving fair compensation for their written off vehicles.

Stephen Griffiths, Head of Product at Allegiant Finance Services, explains, “Our monitoring indicates that the insurance market has not taken heed of the FCA’s warning in December 2022 that insurer settlement offers for written off vehicles are often lower than the vehicle’s fair market value.” He further adds, “Whilst some insurers are now doing the right thing, we are seeing concerning signs that insurers haven’t fully taken on board the FCA’s warning about undervaluation. That simply isn’t acceptable. Motorists are being ripped off too often.”

These findings have nationwide implications, affecting millions of drivers. Allegiant Finance Services is calling for a renewed scrutiny of historic settlements to ensure that consumers are receiving fair compensation for their written off vehicles. Griffiths advises, “Motorists can make a claim themselves to the insurer, and refer it to the Financial Ombudsman Service for free if not resolved. Anyone making a claim should obtain full details of how the valuation was calculated by insurers, and consult trade guides that provide historic valuation insights.” Alternatively, Allegiant Finance Services offers a service that deals with this for consumers, with a fee only payable where compensation is secured.

As a result of this latest research, Allegiant Finance Services urges motorists to review the adequacy of their written off vehicle insurance payouts, particularly in light of the increasing prevalence of vehicles being written off. For more information, please contact Stephen Griffiths at 03455441563 or press@allegiant.co.uk. A free consumer guide can be found at https://allegiant.co.uk/2025/03/claim-yourself.