Insurance companies need to be told the truth

Thu, 20 Mar 2008

Research from Sainsburys Finance has revealed that 1.12 million people knowingly give false information to their insurer and that this could invalidate their insurance policies .

False information is usually given for home insurance applications, followed by car insurance and travel insurance .

Most of the people surveyed said the main reason for their dishonesty was that they just didn’t have time to check the correct information. Some said it was too time consuming, while four per cent admitted they wanted to get a cheaper premium .

When applying for home insurance, somewhat surprisingly, 16 to 24- year-olds came top in the honesty stakes, while the over-65s were the most likely to tell lies. Steve Johnson, head of insurance at Sainsbury's Finance said although giving false information "may seem like a good idea in an effort to save time, it could become a real headache later".
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