Over 1 million people admit to giving false information when applying for insurance
People are putting their insurance cover ar risk because they are not giving accurate information when applying for insurance. Just over 1 million people admit to giving false information and just over 12.5 million people admit to guessing information if they’re not sure about the information asked for when applying for insurance cover.
Sainsbury’s bank Sainsbury’s Bank is warning people not to risk invalidating their car insurance car insurance or home insurance home insurance policies because they have not provided accurate details to their insurance company.
Sainsbury’s new research found that home insurance was the worst with 18 per cent of people admitting to have given fasle information. Next was motor insurance, 15 per cent of people admitted to giving false details, then it was travel insurance and pet insurance. The most used excuse was that there is no time to check for the correct information and then becuase it takes too long to get correct and accurate information. However, worryingly, 4 per cent of people said they did it to try and get a cheaper insurance policy.
Head of Insurance at Sainsbury’s Finance, Steve Johnson, said: “It really is quite concerning that so many people seem to think it doesn’t matter if they take a guess at the information requested at the point of taking out cover. Although it may seem like a good idea in an effort to save time, it could become a real headache later when they find they have invalidated their claim.
“If unsure of the answer to a question when getting a quote or buying cover we would encourage people to always take the time to go back and check any details, you can always phone back or gather all your personal documents together and apply online, in some cases you can retrieve online quotes and modify them later.”
Just remember if you’re found out on any level it could invalidate your insurance cover and leave you with huge bills to pay…