The £500 million hidden car insurance cost
A report by comparethemarket.com has suggested that the UK drivers are being charged in excess of £500 million a year extra, just to cover the cost of those driving with no insurance. The figure works out at an extra £31 for the average cost of car insurance in the UK, something which law abiding citizens are some how forced to cover. But why?
As the figure is brought into the public domain it has prompted more and more drivers to ask why they should be expected to cover those who are driving illegally. While the leading insurance companies will comment upon the extra cost and the risk factor (the likelihood of more drivers having to claim off their own insurance if the other party is uninsured) it seems as though all costs associated with uninsured drivers are being passed on.
If you think about it logically you can see why the insurance companies might act this way but the problem now is that with a £250 the maximum fine for driving while not insured, more and more are being tempted. For the first time in living memory more people than ever before are considering cancelling their car insurance but still being active on UK roads - a scary thought!
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