Despite the harsh penalties that can be imposed on drivers without valid van insurance policies, more people are taking the risk and driving uninsured.
The Motor Insurers Bureau was set up in the 1940s and by law, all van insurance companies must be members. It asks them to pay a percentage of every premium that they collect into a fund that is used to compensate drivers unfortunate enough to be hit by an uninsured driver. As the number of uninsured drivers has risen, so has the number of insurance claims handled by the Motor Insurers Bureau fund, and as a result, the insurers are required to pay more in to the fund. One of the knock on effects of this is that your van insurance quote may be a little bit higher to cover this rise. |