Sainsbury’s Finance has reported that around 15% of customers have intentionally given false details when buying car insurance.
1.12 million people gave insurers false or incorrect information when applying for some form of insurance, 18% of these related to home cover.
As well as these figures 12% gave false details when purchasing travel insurance policies and 4% of pet insurance buyers also admitted they had given incorrect information to their insurers.
Head of insurance at Sainsbury’s Finance, Steve Johnson, thinks the figures were concerning, he said: "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. We would always encourage people to always take the time to go back and check any details [of policies]."
People stated various different reasons for providing false information, such as lack of time, 11%, 8% said finding the right details would take too long and 4% said trying to get a cheaper policy was their reason for misinforming their insurer. However it could seriously damage people’s chance of making successful claims on their policies if the information is incorrect.