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Home Insurance -
Home Insurance Tops List of False Details - 18/03/2008 |
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At least 1.12 million insurance customers have admitted to deliberately giving false information when applying for some form of insurance policy. And home insurance topped the list with 18 per cent of those applying giving inaccurate details.
The research, just published by Sainsbury’s Finance, said that 12.59 million people admitted to making ‘best guess’ at information when taking out insurance cover.
Those who failed to provide accurate information when applying, the bank said, were putting their insurance cover at risk. It therefore urged people to make sure the details they provide are accurate and they should take the time to double-check if they are unsure.
Head of Insurance at Sainsbury’s Finance, Steve Johnson reiterated that when getting quote or buying cover people should always make sure they go back and check. “You can always phone back or gather all your personal documents together and apply online, in some cases you can retrieve online quotes and modify them later,” he added.
The research further revealed that people have different reasons for not providing accurate information and they include having no time to check the correct information while providing the details, it takes too long to gather or research the correct information (8 per cent) and the desire to get a cheaper premium or save money (4 per cent).
The 16-24 year olds were the most diligent age group, according to the survey, with only 15 per cent admitting to giving inaccurate information when getting a quote or buying cover.
But the 65 year olds were the most likely to group to admit giving false information, with one third saying they have either knowingly given false information or made a best guess when trying to get a quote or buy cover.
Next to home insurance on the list is car insurance with 15 per cent, followed by travel and pet insurance with 12 and 4 per cents respectively.
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