A new research has revealed that about 40 per cent of the car drivers lie to their auto insurance companies for saving money on their premiums. Out of the UK drivers surveyed for the research, 38 per cent of them have admitted to lying to being dishonest to their car insurance companies in order to cut cost on their car insurance premiums.
Most drivers lie about their annual mileage to enhance their chances of securing low premium. Eight per cent of the lies by car owners were revealed to be about the area where their car is often parked and seven per cent of the lies comprised the false value of the car.
When it comes to dishonesty to save on car insurance premiums, 46 per cent of men have participated in lying as compared to 32 per cent of women. 12 per cent of the surveyed motor owners said that in case of any accident or damage, they are willing to pay out of their own pockets to save money on high premiums.
Car insurance companies believe that failing to tell the truth to your car insurance company is a huge risk that the customer is taking on. As incomplete information would lead to incomplete cover of the insurance policy, which would ultimately mean that the customer is uninsured.
Most car insurance companies are considering lying as a form of fraud in the car insurance market. The auto insurance companies are getting sharper especially in present hard financial times. Not only does having an incomplete cover affect the insured, but it also affects the other people involved in an accident, as the cost of damage in an accident can be limitless. One cannot pay from their own pocket a majorly heavy cost.
Such acts have led to premium rise for many honest insured car drivers. Use car insurance comparison sites to know more the risk of incomplete car cover.
Get low cost insurance when you use car insurance comparison sites online to compare insurance quotes.
Home
Glossary
News
Sitemap
Contact Us