A quarter of young drivers have lied to their insurer to lower the cost of their car insurance, according to a report by myvouchercodes.co.uk. Alarmingly, 68% of those questioned were not aware lying to their insurers could make their policies invalid.
Over half of the 17–21 year old respondents admitted to ‘fronting’ in order to save money on their premiums. This is when a young driver names one of their parents as the main driver of the car when in reality the parent does little driving.In addition, some 39% said they do not declare modifications made to their car and 41% lied about keeping their car in a garage.
Car insurance premiums for young people are extortionate because they are perceived as a higher risk. Young male drivers, often labelled as ‘boy racers’, are particularly badly hit.
The average cost of an insurance policy for a Renault Clio for a 17-year-old female is £2,911.01 per year whereas the average for a 17-year-old male is £5,232.56, according to the AA.
As a result of this many are using illegal practices to get around the expensive prices.Mark Pearson, chairman of MyVoucherCodes.co.uk, says: “I would never recommend lying to an insurer to lower your premium, because it invalidates the policy and should you need to make a claim, you may find that you can’t.”It’s a shame that people do this sort of thing to save money, because there are much better and more honest ways of getting money off.”