With fuel costs relentlessly rising it seems drivers are taking serious risks to keep their motoring costs down. A recent survey of UK Motorists found that over 50% of us would consider lying to our insurance providers if it meant we got a better deal on our annual policy. Known as fronting it involves deliberately misleading the insurance company by providing false or inaccurate information.
The survey conducted by the ABI (Association Of British Insurures) found that more than 50% of those questioned would incorrectly name themselves as a first driver, 20% said they may exagerate their no claims bonus and 12% would consider hiding motoring convictions in order to reduce their premiums. Perhaps most worryingly 10% stated they would consider concealing important details from their insurance provider to get a better deal.
The first quarter of 2010 saw record rises in insurance policies with an average of 7.2% rise in comprehensive cover cost according to the AA’s figures. The insurance industry insisted that the rises were necessary as the were paying out 20% more in claims than they had collected in policy premiums. This surge in in claims followed the cold spell where much of the UK was brought to a stand still by snow and ice, will we see the same hikes again in 2011 as insurance claims are realised?
The ABI found that fronting poses the biggest threat to insurance providers and stated that the practice is illegal and could invalidate a vehicle insurance policy were it proven.
Source: TrackCompare, January 21, 2011
Avis Insurance has been arranging commercial insurance since 1983 and would be happy to assist you with your truck or commercial insurance requirements.
For our Truck Insurance Guide or Visit our homepage for a quote
The first quarter of 2010 saw record rises in insurance policies with an average of 7.2% rise in comprehensive cover cost according to the AA’s figures. The insurance industry insisted that the rises were necessary as the were paying out 20% more in claims than they had collected in policy premiums. This surge in in claims followed the cold spell where much of the UK was brought to a stand still by snow and ice, will we see the same hikes again in 2011 as insurance claims are realised?
The ABI found that fronting poses the biggest threat to insurance providers and stated that the practice is illegal and could invalidate a vehicle insurance policy were it proven.
Source: TrackCompare, January 21, 2011
Avis Insurance has been arranging commercial insurance since 1983 and would be happy to assist you with your truck or commercial insurance requirements.
For our Truck Insurance Guide or Visit our homepage for a quote
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