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1.15 Million Admit To Having No Car Insurance
from:1.15 million people confess to having driven a car in the last
year without any car insurance, according to a survey by
Sainsbury's Car Insurance. The survey revealed that 19% said
it was because they couldn't afford it, 19% said they didn't
think it was necessary, 13% said they forgot to purchase it,
while 13% said they didn't have time to arrange cover.
The most common offenders are those aged between 17 and 24. The
least likely to offend were the over 65s. It is a commonly known
fact that insurance for younger or newer drivers is far costlier
than for older car-owners. This may account for the spotted
patterns of higher rates of offense in younger people.
On a regional basis, 6% of people in London have confessed to
driving in the last 12 months with no insurance in place - the
highest for any part of Britain. This may be due to the fact
that car insurance London comes at a dramatically higher price
due to the higher rate of accidents.
Figures elsewhere are South West & Wales (5%), Yorkshire &
Humberside (4%), Scotland (3%), North (2%), South East (1%),
East Midlands & Anglia (1%) and West Midlands (1%). According to
the Association of British Insurers, the cost of uninsured
motorists adds a further £25 to £30 to the average annual car
insurance premium.
It is illegal to drive a car with no insurance in place and the
punishment for those caught include fines, a driving ban or
having their cars crushed
As well as offering competitive premiums, Sainsbury's Car
Insurance also offers motorists an extensive range of cover and
benefits. This includes a courtesy car when using one of its
recommended repairers (comprehensive cover only) and a no claim
discount of 70% if you take out a policy and have not made a
claim in the past five years, rising to 75% after a further five
years' claim free driving with Sainsbury's Car Insurance. It is
also one of only a few providers to offer new for old
replacement child car seats after an accident as a standard
feature of its comprehensive policy, even when there is no
visible damage, as well as support and compensation if you're a
victim of carjacking or road rage.
Ironically, right now is a very good time to purchase car
insurance, as the AA's index report shows: In the last year, the
average annual premium quoted for comprehensive car insurance
has risen by nearly 6%.
The good news is that the latest figures show a slight reversal
in the trend. Average comprehensive car insurance premiums fell
by 0.5% in the first quarter of 2008.
According to AA Insurance, this is largely due to the time of
year. Because it's currently a 'peak period' for car insurance
sales, many companies are holding rates down to try and gain
market share.
You might need to act fast to take advantage of these blips:
Home and car insurance premiums are expected to rise again over
the coming year.
And in the longer term, prices may be forced up still further by
extreme weather conditions. Professor Stuart Lane of Durham
University recently predicted that we're entering a
'flood-rich' period, with even more serious flooding likely to
hit the UK in years to come.
It seems that now is a good time to take out a new insurance
policy. This is particularly true of car and home insurance, as
premiums are likely to rise - possibly steeply - in the months
to come.
If your current policy is up for renewal, remember to shop
around rather than automatically renewing with your existing
company. You're likely to get a much better deal as a new
customer.
About the author: Sofia Abasolo
Sofia is an author of several articles pertaining to Car Insurance. She is known for her expertise on the subject and on other Business and Finance
related articles.
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