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Drivers urged to tell the truth when applying for insurance

April 1, 2008 by admin  
Filed under News, News-Insurance

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Despite car insurance being at highest recorded levels, drivers need to avoid the temptation to lie to acquire cheaper premiums, one financial expert has urged.

According to Gocompare.com, some drivers will look to cut insurance costs by withholding information to insurers which, if they get caught out, could increase costs later on.

Providing incorrect information is a “false economy” as it can invalidate a policy and mean it is more difficult to get insurance in the future.

Hayley Parsons, Gocompare’s managing director, said that insurance represents a large proportion of the money drivers spend on their vehicles so they are always on the lookout for savings.

“One of the best ways to save money on your insurance is not to just accept your renewal quote, the best company for you 12 months ago, may not be the best today,” she added.

Meanwhile, research from uSwitch revealed that UK motorists pay £333 million per year in fees to car insurers to make changes to amendments to their policy.

Tags: renewal, finance, Insurance, Vehicle insurance, GBP, uswitch, business, research

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