True Or False - Your Insurance Could Be At Risk

Perhaps you're simply in too much of a rush to provide accurate information, or you're looking to secure a cheaper premium - but offering false details to an insurer could jeopardise any future claims.

Research from Sainsbury's Bank shows 1.12 million people knowingly provide false information when taking out insurance with a further 12.59 million admitting to taking their 'best guess' on some information. While some insurers may be willing to overlook unintentional mistakes, providing false information can, in worst case scenarios, invalidate a policy.

Fifteen per cent of those taking out car insurance had provided false information. The overriding reason for offering inaccurate details was that there simply isn't the time to check the information (11 percent), while a further eight per cent said it takes too long to research.

If you're unsure as to the details you should provide, then the best advice is to contact the insurer directly with any queries. Go back and check the information you have provided - by applying for car insurance online you can often retrieve quotes and then modify them at a later point.

Surprisingly, it is older policyholders who are more likely to provide inaccurate information with 32.5 per cent admitting to knowingly providing false information or taking a 'best guess', compared to just 15.2 percent of 16-24 year olds.

Around four percent also admitted that securing a cheaper premium was their primary reason for offering false details. Failing to admit to modifying a car or providing inaccurate mileage information would put a policy at risk if a claim were necessary.

If you want cheap car insurance do not lie to your insurer. Be honest about your circumstances and if you're not happy with the quote shop around with a car insurance comparison tool to see what other deals are available.