Is it time to revamp motor insurance?

A report by Cardiff University has today hit the headlines with a suggestion last over 200 lives a year could be saved, as well as 1700 fewer serious injuries, if young drivers between the ages of 17 and 19 are restricted from driving at night. There are also calls for younger drivers to be banned from carrying young passengers with statistics showing that males under the age of 21 are 10 times more likely to die on the road than any other group of drivers and account for one third of dangerous driving prosecutions.

As well as potentially reducing the number of accidents on the road there is also a belief that restricting younger drivers could also reduce insurance premiums by 10%. Not only would there be a potential premium reduction for younger drivers but this could also lead to fewer uninsured drivers on the roads and therefore benefit all motorists in the UK.

There's no doubt that's ever increasing motor insurance premiums are causing major problems and major headaches for people in the UK. It seems that even if you have a clean licence and drive within the law you are somehow forced to pay for uninsured drivers in the event of accidents. Quite how this works is a mystery to many.