£31 million worth of uninsured cars saved from the scrap heap
The latest figures from vehicle information expert HPI suggest that drivers of mid-range higher volume vehicles such as Vauxhall, Ford and VW models are the greatest offenders of insurance evasion
The latest figures from vehicle information expert HPI suggest that drivers of mid-range higher volume vehicles such as Vauxhall, Ford and VW models are the greatest offenders of insurance evasion. It also revealed drivers of prestige, high value vehicles including five Ferrari’s two worth £151,000 and £115,000 each, an Audi R8, a Bentley and a number of Lamborghinis were among the offenders in 2011.
Daniel Burgess, Managing Director for HPI said “there are an estimated 1.4 million uninsured motorists on the UK roads, illustrating the threat facing law abiding road users and the finance providers who own the offending cars. In 2011 HPI CrushWatch alerted finance companies to the seizure of over £31 million worth of vehicles they owned, thereby protecting their assets from the crusher. It’s very interesting to learn how many of these vehicles are being driven by people the majority of us would consider to be in a position to afford insurance, yet have been caught persistently avoiding paying premiums.”
As part of the HPI CrushWatch service, every vehicle a finance company registers with HPI will be automatically checked by participating police enforcement agencies if they are seized. Finance companies signing up to HPI CrushWatch will be alerted when any vehicle they have an interest in is seized. This allows them to decide whether to recover the vehicle for selling on to recoup bad debt, or allow it to be destroyed.