New research by eCar has shown that women lie with greater frequency than men on car insurance applications to get lower rates.
With close to 280,000 applications received per month, eInsurance Group found that in one month, 20 percent of these ended up in fraud investigations. Of that percentage 51 percent that were declined were women versus the 49 percent from men.
eInsurance Group CEO Alan Sanderson comments on the significance of the near equal ratio, saying that “These results that show that basing insurance premiums on gender alone is misguided. The insurers should do more to tackle the liars, whoever they are, and reward honest drivers.”
Three factors that people lied about most start with the 47 percent of people who did not disclose convictions, which breaks down into 64 percent male, 36 percent female. Providing inaccurate time frames on license length takes up 32 percent, with 68 percent doing so being women, and 19 percent lie about having a no claims discount, 53 percent of which are women.
A significant insurance premium increase of 38 percent has taken over 1 million drivers in the UK off the roads. “To combat rising insurance costs, I’d advise honesty is always the best policy,” Sanserson says.
To help fight insurance fraud a Truth or Dare campaign has been launch asking drivers to upload a Truth Booth video to offer up their biggest secrets or embarrassments. The winner takes home one of five iPad 2s.
– By: Alexandra Koken