Have you ever lied to a car insurance company in order to get a cheaper deal? Join the 7 million drivers who admit to having “altered facts”, despite knowing that it is illegal.
According to the latest findings by Kwik Fit Insurance Services, 92% of British drivers understand that giving false information to insurance companies is illegal, and yet nearly a fifth (18%) have also”tweaked” important information such as their annual mileage.
Looking at which questions are most likely to prompt people buying insurance to lie, the study found that the most commonly “altered fact” is annual mileage, with 45% of drivers regularly understating their car use, and close behind was the overnight vehicle location (44%).
Insurance companies are keen to warn motorists that “altering facts” is not only illegal, it can also lead to insurer’s assessing drivers inaccurately and invalid schemes.
Younger adults (25-34) are reportedly the most likely to “tweak” information for insurance purposes, with 1 in 7 (15%) changing annual mileage.
Although drivers may save a few pounds on their annual premium, they might find that their insurance is invalid when they have to make a claim, leading to them potentially being thousands of pounds out of pocket if they have to stump up the money themselves.
“We’ve all occasionally claimed ‘poetic licence’ with the truth,” said Stewart Barnett, Head of Marketing and eCommerce at Kwik Fit Insurance Services, “and it usually turns out to be a harmless act. But when it comes to insurance, small changes can make a big difference and, in some cases, inaccurate facts could invalidate claims and policies. We’re certainly not looking to scold people, but we do want to stress the link between giving false information and the impact on invalidating insurance policies, which could cost dearly.”