Six percent of drivers would consider insurance fraud to save money

Six per cent of drivers would consider giving false information to save money at their next insurance renewal date, according to a study by broker Kwik Fit Insurance Services.

The research found that 8% of drivers admitted to committing insurance fraud.

The report also found that attitudes towards insurance fraud depended significantly on the age of the customer.

Younger customers were far more likely to commit insurance fraud, with one in five 18-34s (19%) admitting to giving false information about car or home insurance to try and get a cheaper price or premium.

Ten per cent of 18-34 year olds were likely to exaggerate an insurance claim to get a bigger payout, compared with just 3% of 55+ year olds.

Kwik Fit Insurance Services said the research underlined the “confusion” that existed around insurance fraud.

The broker said: “While 94% of respondents know that giving false information at insurance quote stage is fraud, many simply don’t understand the seriousness of this.

“Just 38% of car or home insurance holders realise that it is fraudulent to give false information about their marital status, and 41% are at risk of giving false information about the value of contents in their home, as they are unaware of the potential criminal consequences.

“Thirteen per cent of car or home insurance holders don’t consider exaggerating an insurance claim to receive a higher payout as fraud, and one in five (17%) don’t realise that hiding criminal driving convictions from an insurer could have legal consequences.

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