Driving without car insurance can land you a £300 fine and six penalty points – but that’s still £1,000 less than young drivers pay
The fine for driving uninsured is much less than the average premium for a young driver but taking the risk is illegal, dangerous and irresponsible
MILLIONS of young drivers admit they've considered NOT taking out car insurance to save money.
Premiums for under 25s can cost around £1,400 yet the fine for being caught is just £300 and six penalty points.
And many say they are happy to break the law and save cash in the hope they don't have a crash or get stopped by police, according to the Motor Insurers' Bureau (MIB).
Men are more likely than women to take a chance.
What many don't realise is if they're pulled over in the first two years of having a licence, six points is enough for an instant ban.
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And if you're caught driving uninsured your motor can be seized - and crushed - by cops, too.
Uninsured driving is a huge problem with an estimated one million drivers on UK roads without cover.
And 'hit-and-run' drivers kill around 120 people and injure 29,000 every year.
Insurance premiums for young drivers have continued to rise in recent years thanks to compensation rule changes and government tax hikes.
And plans for a £1,200 a year cap for young drivers never made it past a government debate.
Neil Greig, policy and research director at IAM RoadSmart, said: "I am worried, but not wholly surprised, by these results.
"There is no excuse for deliberately breaking the law on insurance and our members do support tougher penalties.
How to drive down your insurance premium
HERE'S how drivers can avoid shelling out a fortune:
- Don't auto-renew as rolling over your policy with your insurer means you’ll pay more than you need to. Shop around for the best deal using a comparison website and challenge your existing provider to match the best deal you find.
- Add an extra driver to your policy. It is illegal to claim someone is a main driver when the’re not, but adding a secondary driver can save you money without breaking the law. Ideally the second driver would be someone with a clear driving licence and good no-claims history.
- Pay your premium in full if you can afford to stump up the cash outright. Insurers usually whack on a hefty interest charge for monthly repayments so you can make a significant saving by paying upfront.
- Consider fully comprehensive over third-party - full cover is often cheaper.
- Get a black box policy. These offer incentives and reduced premiums for young drivers who are careful on the road.
"There is little evidence however that simply increasing fines and bans will work in reducing deliberate evasion.
"We need to see joined up enforcement, more ANPR cameras and adequate traffic police around to enforce the law."
If you're involved in an accident with an uninsured driver, you can claim compensation from the MIB.
The payouts come from a fund contributed to by every insurer.
That means honest motorists' premiums help to cover the cost of those breaking the law.
Ashton West, MIB chief executive, said: “We want to avoid millennials regretting their decisions particularly when it comes to taking a risk on car insurance.
"Our aim is to get young people talking to each other about the serious issue of uninsured driving."