To reduce a financial burden and lower premiums, consumers in the market for auto insurance tend to tell “little white lies” just to save a buck. According to www.thezebra.com, an auto insurance comparison tool, here is a list of the most common lies consumers tell their auto insurance companies:
Lying about the vehicle model. For example, when applying for insurance coverage, the consumer tells the agent they own a Lexus RX 350 when they really own an RX 450h Sport-approximately a $15,000 discrepancy in the price difference.
Discrepancies in credit scores. The consumer thinks have a high credit score, but in reality, it is much lower than they told you. Or…they inflated their credit score knowingly to get a better rate. On the reverse side, the consumer may have better credit than originally thought.
Ticket history and past claims. The consumer lied about when they got that last speeding ticket or made their last insurance claim.
Where the vehicle is parked. Or, as we like to call it, rate evaders. When the consumer lies about where their vehicle is parked, whether at a different address, in a different town or zip code entirely in order to lower insurance premiums, it is insurance fraud!
Who will be driving the vehicle. When the consumer lies about who drives the vehicle. They may be tempted to leave roommates, teenagers, or anyone with a poor driving record off of the policy.
Lies about marital status. Men (especially) get large discounts just for being married. If they are aware of this, consumers may tell the insurer that they are legally married (even if they aren’t) to save on rates.
Luckily, we are here for certain instances like these!