Confused.com questions if rising motor insurance costs has led to an epidemic of lies?

PRESS RELEASE Confused.com questions if rising motor insurance costs has led to an epidemic of lies? • 32% of women and 46% of men admit to lying to get cheaper cover. • 5% admit to adding a driver onto the policy who is likely never to drive the car. • 65% scared their lies will invalidate their cover In the wake of revelations that insurance costs have spiralled 31% since this time last year, 38% of UK drivers have admitted lying to get a better premium. Men are more likely to be dishonest than the fairer sex, with nearly half admitting to fibbing to get cheaper cover. Drivers are most likely to lie about annual mileage (14%) Where they keep their car (8%) the value of the car (7%) and adding named drivers onto policies that they suspect will never drive the car. 71% of those who lie on their insurance applications say that they do it to save money, and 12% consider it worth the risk of having to pay out in the event of the accident to save on their premium. Will Thomas, head of motor says “When it comes to motor insurance, lying really doesn’t pay. By failing to tell the insurance provider your true circumstances you are risking invalidating your cover entirely, which ultimately means you are uninsured. Whilst it’s easy to think you will never be caught out, insurance companies are getting savvier, particularly in these hard financial times, and lying is a type of fraud. Having your cover invalidated not only has ramifications for you and the repair of your car, but also for any other driver involved in the incident – there is no limit to the costs that may be incurred in the event of an injury. The hard truth of the matter is that insurance prices are going up, but there are still things you can do to legally bring down the cost. Downgrading to a smaller car, making sure your mileage is accurate and not excessive, building up no claims bonus and adding security devices can alter the cost of your cover for the better. The quickest and simplest way to cut costs is to use a price comparison site to search the market. Different insurance providers rate on different things and using price comparison will make sure you get the best deal for your individual circumstances. -ENDS- For further information please contact: Press Office, Confused.com 02920 434 398 pressoffice@confused.com Notes to editors 1Based on a One poll survey of 2000 respondents About Confused.com: Confused.com is one of the UK’s biggest and most popular price comparison services. Launched in 2002, it generates over two million quotes per month. It has expanded its range of comparison products over the last couple of years to include home insurance, travel insurance, pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as well as financial services products including credit cards, loans, mortgages and life insurance. Confused.com has a panel of 90 motor insurance providers and January – June 10% of customers saved over £188 Confused.com is not a supplier, insurance company or broker. It provides a free, objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com’s service is based on the most up-to-date information provided by UK suppliers and industry regulators. Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.