Industry News from Yes Insurance

Britons who lie about their home contents in order to receive a bigger home insurance pay-off are committing fraud, it has been reported.

According to Steve Foulsham, technical services officer for the British Insurance Brokers' Association, many customers may think that bending the truth is not fraudulent.

However, with the Association of British Insurers recently revealing the cost of the crime to be £4 million each day, the expert has stated that honesty is the best policy.

"I think there's a perception that the insurer will reduce the value of that claim anyway, so therefore they perhaps inflate it with that in mind," he said.

Meanwhile, the recent earthquake that hit Kent may act as a trigger for thousands of homeowners to consider improving their home insurance cover.

Indeed, some potential customers may need reminding that acts of God, including natural disasters, will see most policies pay out.

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