Though it is a requirement in the UK that all drivers keep their car insured at all times. Not all drivers are following the law of the land. According to recent publications from the MIB There has been a 20% rise in drivers without insurance. What's more is that many of these drivers are young drivers between 17 and 20. As many as 1 out of 5 drivers in this age group do not carry coverage on their vehicle.
None of this is all together startling to me. For one thing I am pretty certain that statistics in the US, where I reside are probably about the same or worse. For another thing, this is the age group that young people are first moving out on their own and picking up responsiblity for thier own expenses such as car insurance.
I am also not surprised by the drop recent drop in car insurance over all. When times get tough it is often hard to justify paying money every month for something that is unlikely to happen.
However, wrecks do happen and without insurance they can be catastrophic. Victim lawsuits can wipe away everything that someone owns in the blink of an eye. It is also an illegal act that can lead to the suspension or revocation of one's driver's license. These are things to consider before dropping coverage on your vehicle.
No Comments