Insurance fraud is 'absolutely stupid'
Posted on May 30th 2008
Lying on an insurance claims form remains "absolutely stupid", it has been asserted, despite the insistence of over a million people that there is nothing wrong with doing so.
Recent research conducted by RSA shows 1.2 million Britons think lying on an insurance claims form - be it for home insurance or home contents insurance - is acceptable, with 56 per cent of those polled confident that anyone who did so would probably get away with it.
However, David Kuo, head of personal finance at Fool.co.uk, has advised against this as although it could lead to short-term gain it is financially inadvisable in the long run.
"It's absolutely stupid. If you do get found out then not only will you not get the claims processed but there is also a danger that your premiums may go up as a result of this," he commented.
"I strongly advise anyone not to lie on their claims form."
Mr Kuo warned that a person's insurance will become null and void if their insurance company finds they have lied on their claims form.