According to new fraud figures from one insurance provider, women seem to be more likely to lie to car insurance companies than their male counterparts in an effort to get the cheapest car insurance quote they can.
Cheap car insurance provider eInsurance Group, which has nearly 280,000 applications for insurance cover every month, says that one out of every five of its policies sold just this past May had resulted in fraud investigations. The insurer further said that 51 per cent of denied applications originated from female drivers.
eInsurance Group said that the top three lies it encountered were lying about possessing a no claims discount, with a total of 19 per cent, misleading about license length at 32 per cent, and not disclosing convictions at 47 per cent. Men were found more likely to lie about conviction disclosure, while women were found to be the worst offenders for the other two instances, the data revealed.
eInsurance Group chief executive, Alan Sanderson, commented on the results, saying that the basing of insurance premium prices on gender alone is undoubtedly a misguided effort. Insurers need to do more to reward honest motorists while at the same time do more to identify and punish the liars, regardless of gender, Mr Sanderson added.
Annual car insurance rates throughout the country were raised by around 38 per cent due to dishonest motorists last year, according to industry figures. This has resulted in more than 1 million drivers having to take their cars off the road due to spiraling motoring costs, research reveals.
Sanderson said that the best way to combat rising insurance costs is to simply be honest. Transparency when submitting an insurance option is the key message the insurer is trying to convey, the chief executive also said.