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Car Insurance -
Drivers threaten car insurance by lying - 07/05/2008 |
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When taking out motor insurance policy, the most important for car drivers to do is not to lie on their applications.
Recent reports in the car insurance industry have suggested a significant percentage of UK motorists are doing exactly that and so running the tremendous risk of invalidating their motor insurance policy.
How much a car insurance policy will cost depends on numerous factors, some of which include the annual mileage, where the car is kept and the value of the car. It has now been indicated by experts that a large number of UK drivers lie about one or all of these things to try and bring down the cost of insurance.
Even though it may not seem like a serious crime, completing inaccurate information on a car insurance policy could mean the policy will be nullified and the holder may face great risk. Some of the more serious lies, that could make this happen, would include lying about addresses and penalty points.
Uninsured or falsely insured drivers cost the motor and insurance trades millions of pounds each year. These costs are then passed on to honest consumers who pay the price in higher premiums.
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