Insurance News Sat, Sep 6, 2008
One in fourteen people have lied when taking out insurance cover
Despite all the risks that it involves it has been revealed that one on fourteen people have lied to their insurance company when applying for cover. In the most blatant case of false economy it seems that many consumers feel happy to reduce their premiums in exchange for the risk of being caught and invalidating their insurance cover.
Of the more blatant lies it seems that 7% of consumers have misled their insurance provider with regards to their lifestyles, 11% of ladies have lied abut their weight and 25% of men admitted that they had lied about the amount of alcohol they consumer. However, even after all of the warnings and examples of policies being invalidated an incredible one in ten admitted to lying about smoking. So why do people risk the chance of invalidating their insurance?
Its seems that a mixture of people hoping to reduce their premiums prompts them to lie but some people find the questions a little too intrusive in some instances. However, there is a warning for those who are tempted to lie to obtain insurance – the insurance companies will find every reason they can to invalidate a policy so the need to be one hundred percent honest has never been more important than today.
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