Millions of UK drivers are guilty of lying on their car insurance to cut the cost of their premiums, new research has shown.
Up to 2.4 million policies are invalid because of false information given to insurers.
The research, conducted by Consumer Intelligence, showed that as many as 8 per cent (around 1 in 12) of drivers admitted to providing incorrect details. Of those drivers, 60 per cent said that they did it to lower the cost of their premium while 20 per cent claimed they made a mistake or were unsure of the correct information they were being asked for.
Around 1 in 20 motorists tried to justify their actions, stating that their intentions were to "reclaim money paid previously for expensive premiums."
The research also asked drivers about which information it was that they gave incorrectly. 10 per cent gave a lower annual mileage estimate while 14 per cent lied about the number of points or convictions they had on their licence. 15 per cent were untruthful about where they park their vehicle.
Ian Hughes of Consumer Intelligence warned that insurance could be partially or completely invalid, potentially resulting in the cancellation of policies which would make it almost impossible to buy car insurance in the future.
He said: “Many consumers are struggling financially and it is understandable that they would want to try and cut their bills wherever they can. However, if they do not provide the right information to insurers they are putting themselves at risk. If they make a claim they may find that the policy won’t pay out because the information they provided doesn’t add up.
“One of the key principles of insurance is ‘utmost good faith’. That isn’t just for insurers; it is really important that consumers play their part in this."
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