Sep '96 17years old, insurance in my name on a Mini 1000
Summer '99 17years old, younger brother insurance in his name, same address Mini 1000 clubman
Summer '02 17years old, youngest brother (quote to compare in his name), same address Mini 1000
In 6 years, at the same address for the same 17 year old driver premiums had increased by 430%
I wonder what it would be today!?
It's a funny thing, really, but I used to have no sympathy for people who drive without insurance.
Yet you see stats like that, and it does highlight something. When young people today, face such high prices for insurance, and the penalties are relatively light, it's really no wonder that many opt out, so to speak.
I get that it's not a right - expecting to be able to own a car and drive one on the road - and it is entirely optional, and not having the means shouldn't be an excuse for not bothering with insurance - but all the same, looking at it over the years, I can certainly see why some see it as a scam.
Sure, it's largely down to actuarial risk calculations, higher amount of claims and litigation, perhaps getting burnt because they're as much about investment banking, now, than merely large scale gambling regarding their calculated "risk".
Wanton and rampant speculation on the market, and the market curing all ills, can't go unfettered, with something that is mandated on use, I feel.