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Unfortunately, there are no real financial consequences. You'd lose your car but probably didn't pay much for it in the first place, the MIB will pick up any injury claim and all you face is a fine and a slap on the wrists from the 'justice' system. By MIB, I do of course me honest Joe Public...

Insurers have tried to move the goalposts, Norwich Union had a trial scheme whereby a blackbox was fitted to cars and the drivers paid depending on mileage. The box could also monitor standards of driving, ie harsh braking or over revving etc. Another scheme they tried was to heavily discount...

Might as well buy a car for £500 and insure TPO to build up your ncb. Makes sense. As for myself, my first insurance premium was only £68. (That was for TPF&T on a 1974 Triumph Toledo. It was also 29 years ago!!!)

Are we talking fully comp insurance? If so, buy a banger and drive that for 2/3 years on TP only cover and that will keep the cost down whilst you build up a no-claims discount (assuming you don't have any accidents). If you are worried about your street cred then that's the price you pay. Be...