Complaints about the constant increase in the price of motor insurance may begin to decline as the British government clamps down on uninsured drivers.
Insurance Daily has reported that keeping an uninsured car will soon become an offence, with the car’s owner receiving a fine of £100 and a threat of vehicle impoundment or destruction if a motor policy is not taken out within a certain time limit.
This will please policy holders who are angered by the cost of motor premiums; the proposed initiative will hopefully save insurers £764 million over the course of five years, as premiums will not have to reflect the compensation costs that the Motor Insurer’s Bureau pays to victims of uninsured drivers.
