The cost of uninsured motoring in the UK has reached approximately £500,000,000 each year, according to the Association of British Insurers. To compensate for this, insured motorists are having to pay in excess of £350,000,000 in additional insurance premiums.

In research conducted by the British Insurance Broker’s Association (BIBA), it has been found that the likelihood of an uninsured motorist being involved in an accident is eight times greater than that of an insured driver. These staggering figures have resulted in insured motorists having to pay an extra £30 per year in insurance premiums.

The Motor Insurer’s Bureau (MIB) believes that the demographic group most likely to drive without insurance is young males. In spite of a number of campaigns designed to raise awareness of the importance of having adequate car, motorcycle or van insurance, many are ignoring the risks of driving without insurance. The MIB’s figures show that 15% of drivers admitting to driving without insurance were between 17 and 21 years of age.

Car, motorcycle and van insurance is not only a legal requirement but if you are caught driving without adequate insurance you are likely to receive penalty points on your licence plus a fine. Penalty points on your licence will not only have a detrimental effect on your ability to drive legally in the UK but can dramatically increase your insurance premiums when it comes to renewal.

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