The Fast and the Foolishly (Uninsured) Supercars

 

£300,000 exotic supercar? Check. Hotel tickets for Monaco? Check. Designer sunglasses and matching luggage? Check. Motor insurance policy? Er……….You’d think that if someone could afford to stump up over half a million pounds for a set of luxury supercar wheels (and probably an expensive private registration plate to boot) that they wouldn’t necessarily have to scrimp on their car insurance policy, wouldn’t you? However this isn’t always the case, as reported recently by HPI CrushWatch, the government-supported company which officially caretakes acquired vehicles which have fallen foul of the law in various ways and subsequently impounded; on behalf of UK enforcement agencies prior to them being potentially disposed of. HPI CrushWatch has brought to light the vast sum of car collateral it’s managed to preserve – and therein save from a crushed fate – last year, despite the sum vehicular parts winding their way into their hands due to having been driven/consequently seized without motor insurance.

Destined to have been otherwise crushed on the instruction of the police, HPI CrushWatch stepped in to ensure that in excess of £56 million pounds’ worth of car assets were safeguarded. Working in conjunction with the Finance & Leasing Association’s (FLA) Vehicle Recovery Scheme, HPI CrushWatch acts as an intermediary body between law enforcement agencies and motor lenders, with a remit of attempting to reclaim uninsured vehicles which might alternatively have been seized and later scrapped by the police without the lender’s knowledge or consent. And evidence suggested that motor insurance avoidance knows no social or financial bounds, judging by the eclectic mix of cars having been recovered by HPI CrushWatch after being found in the hands of insurance dodgers.

Lamborghinis, Rolls-Royces and Bentleys Top List of Highest Value Recoveries In On-going Fight against Uninsured Motorists

Like for example the £309,000 Lamborghini Aventador we hinted at above, which along with its (slightly less expensive) Italian race-bred stablemates, the Gallardo and Gallardo Spyder, a brace of Rolls-Royce Wraith and Ghost, a couple of Bentley Continentals and an Audi R8 amongst other high-end supercars figured prominently in the Top 10 Recoveries by Value chart released by HPI CrushWatch, and with direct reference to its recorded 2014 haul. Yet crashing back down to reality with a bump – and in a similar Top 10 Models Most Commonly Recovered category – CrushWatch flags up a collection of altogether different automotive beasts than those marquees highlighted above. Headed up by the (less than mighty, yet more than omnipresent) Vauxhalls represented by the Corsa and Astra models, this particular category of uninsured cars also counted the humble and everyday likes of Ford Focus and Fiestas, VW Golfs, entry-level BMWs and Audis and the almost compulsory, Ford Transit van amongst its numbers.

Concentrating on the somewhat less glamorous makes and models listed in the second category, and what is perhaps shocking is the sheer volume of vehicles and their accumulative financial worth. Take the chart-topping Vauxhall Corsa for instance, and HPI CrushWatch ran the rule over some 503 uninsured examples of this popular small hatchback in 2014, totalling £1.3 million in accrued value. Meanwhile 238 Mercedes-Benz C-Class’ were seized for not being insured during this same period, worth an estimated £3 million plus. Even the aforementioned Ford Transit contributed over £1.2 million to this table, having seen 206 models in its range driven by uninsured members of the public which resulted in the seizures. Of course, another positive to come out of this story is the fact that the FLA and HPI are ensuring that our roads are safer places for law-abiding drivers by continually working to close the net on these motor insurance-avoiding criminals.

 

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