Uninsured drivers 'cost honest motorists £1.25bn'
Honest drivers are forking out a combined £1.25 billion a year to cover the risk of uninsured motorists and fraudulent activity, according to a new study.
The report by the Co-operative Financial Services found that the average car owner will have to pay £50 on their policy to subsidise bogus claims or accidents caused by those with no cover.
It added that around 23 per cent of young drivers admit to driving without insurance, an MOT or a full, valid licence.
Driving without proper cover is illegal and, if caught, a person could see their vehicle seized.
They can also be hit with six points on their licence and a £200 fine.
Despite these deterrents, around 23,000 people in the UK are killed or injured each year by drivers without proper insurance.
Co-operative Financial Services chief operating officer Tim Franklin said: "Millions of people are deliberately flouting the law by not insuring their cars at massive cost to honest road users and the wider insurance industry posing an unnecessary and unjustified risk."
According to figures published earlier this year by Sainsbury's Finance, the average annual cost of car insurance is £612.84.
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