Car insurance quote news
23/12/2008
More drivers making fraudulent cover applications
Insurance fraud is on the rise as the credit crunch starts to bite deeper into people's pockets and they try to shave a few pounds off cheap car insurance, according to Norwich Union.
By supplying false information when applying for cover, cash-strapped motorists are aiming to cut costs during difficult economic times.
Norwich Union recently identified the worrying trend and warned it was unlikely that motorists granted insurance for car drivers on false grounds were aware that their cover could be invalid.
The insurance giant's motor pricing director, Simon Warsop, said, "As the nation feels the pinch from the credit crunch, more and more people think that they can get away with dishonesty for what is seen as a victimless crime."
But he pointed out that the cost of insurance fraud - estimated at £1.6 billion a year - was subsequently passed on by insurers and is reckoned to cost the honest motorist an average of £50 to £60 per quote or policy they accept.
When it comes to fraud, the message from Norwich Union is that it is not worth lying on applications to try to earn cheap car insurance - personal injury claims maybe invalid and fraudulent applications could lead to a criminal record.
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