One in ten young drivers is unaware that car insurance is a legal requirement, the Motor Insurers' Bureau (MIB) has revealed.
It has been estimated that 900,000 drivers under the age of 30 are driving without insurance, of which almost two thirds are aged between 21 and 29 years old, with this age group representing one third of all uninsured drivers.
According to the research, it appears the typical uninsured driver is likely to be a male aged between 17 and 29, while there are fears from the Motor Insurers' Bureau that the recession may increase the number of drivers allowing their insurance to expire in a bid to cut costs, as three out of four drivers are currently looking at ways to reduce car insurance costs.
MIB is today launching its "Stay Insured" campaign, which is focusing on drivers who are considering not renewing their car insurance policies due to increased financial pressures.
It seems some uninsured drivers believe they can avoid being caught, with 60 per cent saying it is likely they will be caught. However, according to MIB's research, 500 uninsured vehicles are seized each day with a total 232,000 drivers being convicted for driving without car insurance each year.
Ashton West, chief executive of MIB, is not surprised many young drivers are looking to cut costs, commenting: "In these times of economic uncertainty, it is no surprise that people are looking to cut back on spending wherever possible. However, this is no excuse to commit a criminal offence."
Explaining the purpose of the campaign, Mr West said: "The "Stay Insured" campaign aims to emphasise the importance of ensuring that drivers have the appropriate level of cover for any vehicle which they use.
"There are ways in which they can save on costs AND stay adequately insured, such as shopping around for quotes, opting for pay-as-you-drive cover or taking advanced driving lessons."
Motorists who drive without insurance run the risk of receiving a fixed penalty fine of £200, a minimum of six licence penalty points, and risk having their car confiscated.
To prevent this from happening, Mr West had this advice for drivers: "It is important that drivers match their insurance to their lifestyles and pick the most appropriate cover for themselves, whilst also remembering that the cheapest policy might not always be the best one for them", he said.
© Fair Investment Company Ltd