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1 in 20 'do not have car insurance'
Added: (Wed Sep 06 2006)
Around one in 20 drivers do not have car insurance, according to Richard Mason, director of insurance at Moneysupermarket.
The news follows Lloyds TSB's managing director, Phil Loney, stating that there are currently one million uninsured drivers in the UK.
Mr Mason also states that although "every insurer deals with fraud", the number of uninsured drivers are a "frighteningly large problem" for the industry.
Mr Mason argues that increased fraud could have an impact on policy prices for those who are looking to arrange car insurance and is "one of the factors built into pricing".
The director of car insurance also states that there are a range of influences currently affecting policy costs, one of which is the increasing of technology in vehicles.
"[Cars] are much more expensive to repair these days. They have much more sophisticated electronics built in to their systems," he explained.
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Submitted by:
Jane Cragg