Increasing financial pressures are not a reason to avoid renewing your car insurance policy.

That's the message coming from the Motor Insurers' Bureau (MIB) as its 'Stay Insured' initiative kicks off across the UK.

According to the organisation, three out of four drivers are currently looking for ways to bring down their car insurance costs, with 900,000 motorists under the age of thirty hitting the roads without any cover at all.

MIB chief executive Ashton West emphasised that the consequences of driving without adequate car insurance include vehicle seizure, a minimum of six licence penalty points and a fixed penalty of £200 – or more if a case ends up in court.

He acknowledged "it is no surprise" that people are currently seeking to cut back on spending, but maintained it is not an excuse to commit a criminal offence.

"There are ways in which [drivers] can save on costs AND stay adequately insured, such as shopping around for quotes, opting for pay-as-you-drive cover or taking advanced driving lessons," he concluded.

Figures from the MIB, which pays out compensation to victims involved in accidents with uninsured drivers, show that motorists without car insurance add £30 to the average premium.

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