Industry News from Yes Insurance

The number of motorists on the road without car insurance is resulting in increased costs for those who have, according to new research.

Statistics from YouGov released by comparethemarket.com show that a combined amount of £500 million is paid by drivers to cover those who have not taken out a deal.

It stated that 12 per cent of motorists have been involved in a collision with such a guilty party while 68 per cent of people had to incur liability for the crash.

Jeremy Moll, head of insurance at comparethemarket.com, stated that prices will go down if drivers stop breaking the law in such a manner.

He said: "At present motor policies are hit by the knock on effect of uninsured drivers and the financial implications they create; so any steps to deter uninsured drivers would be a move in the right direction."

This comes as the Fraud Bureau has warned motorists about a recent rise in fake car accidents, staged to con innocent drivers out of repairs costs.

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