When we pay for our motor insurance (assuming that you do actually pay!) then we all contribute to a country wide scheme called the Untraced Drivers’ Agreement. Not many people know that.

The Untraced Drivers’ Agreement 2003 includes compensation for property damage resulting from accidents occurring on or after 14 February 2003.

It is totally free to make a claim and claims are subject to a £300.00 excess in most cases. It’s great for people who only have third party fire and theft cover but who have been the subject of a hit and run. But for some reason it’s kept very quiet by the government, and insurers seem to have a love/hate relationship with them.

You can learn more at the official MIB website. What do you have to lose?