Quarter of Brits ‘hide insurance info’
September 12, 2007 by admin
Filed under News, News-Insurance
More than one fifth of British motorists admit they have intentionally kept quiet about motoring convictions and license points to their car insurance provider, to avoid premium hikes following policy renewals.
Confused.com has found that although 96 per cent of motorists are aware that lying to the insurance company could result in invalidated claims, 21 per cent of drivers would be happy to take the risk and hope that they don’t get caught.
Debra Williams, managing director of the comparison site, warned drivers: “Insurers take a dim view of people who don’t update them immediately should their circumstances change.
“Changes in job title or annual mileage may seem insignificant to most drives, but this can significantly affect your premiums. If you are caught lying about your details, your insurer can reduce your pay out and may even refuse to pay at all.”
A report commissioned by the Association of British Insurers earlier this year revealed that fraudulent claims on car insurance, something one in ten (five million) drivers admitted to, push up average premiums by £40 a year.
