Industry News from Yes Insurance

Motorists in the UK have admitted they would lie to their policy provider if they thought it might result in cheaper third party or comprehensive car insurance quotes.

Research by Gocompare.com found ten per cent of drivers would risk massaging the truth when it comes to the value of their vehicle and whether they use it for business or domestic purposes.

A further 22 per cent revealed they may be tempted to lie about where they park their car and 28 per cent said they might purposefully underestimate their annual mileage.

Hayley Parsons, chief executive at Gocompare.com, said lying was not worth the risk.

She stated: "Whilst it might be tempting to alter certain details or omit key information, this is treated as fraud by insurers and could result in your policy being invalidated."

People who manage to avoid making a claim for a few years may find the cost of their car insurance falls significantly.

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