Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 25th of September 2018
August 26, 2009

One in five young drivers uninsured

by Gill Montia

Story link: One in five young drivers uninsured

A new report from the Motor Insurers’ Bureau (MIB) estimates that around 250,000 Britons aged between 17 and 20 are driving without car insurance.

The figure equates to one in five young motorists and MIB research also reveals that one in 10 young drivers claim not to be aware that car insurance is a legal requirement.

A dangerous misunderstanding, given that drivers in the 17 to 20 age group are four times more likely to be involved a claim than older motorists.

While the annual premium for a 17-year-old male driver can be as high £3,000 MIB chief executive, Ashton West, warns: “With one in five newly qualified drivers having an accident in the first year of driving they need to make choices based on the consequences of driving without insurance and not just on price alone.”

Anyone driving in the UK without insurance is at risk of having their vehicle seized, landing a hefty fine, receiving eight penalty points and facing imprisonment, if a fatality is involved.

According to the MIB, around 230,000 people are convicted in the UK for driving without insurance each year and uninsured drivers cost the industry an annual £500 million, or £30 for every insured motorist.

 

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