Suncorp New Zealand has signed a five-year agreement with pre-owned vehicle retailer Turners Cars to manage the sale of vehicles written off by the insurer.

More than 156,000 vehicles were either written off or removed from the road in New Zealand in the past year, and the number of older vehicles being scrapped is accelerating.

Suncorp New Zealand has a large percentage of the end-of-life market, through vehicles written off by Vero, AMP, ANZ and AA Insurance.

“We’re very pleased to strengthen our partnership with Turners with this long-term deal to manage written-off vehicles,” Suncorp New Zealand EGM Claims Jimmy Higgins said.

“Selling written-off vehicles through efficient partnership enables us to better control our costs and also ensures the reuse of parts that are safely reusable and the recycling of any other components of the damaged car.”

Damaged vehicles are sold at Turners auctions every week and through online marketplace TradeMe. Many are sold to recyclers or exported overseas for scrap metal.