The Number One (1) Insurance Trick To Try and Save Money is Really Fraud

Fraud is one of those ugly words no one wants to hear, especially in the same sentence or statement that also has their name.

Fraud is one of those ugly words no one wants to hear, especially in the same sentence or statement that also has their name.

Saving money is two words we all like to hear, who doesn’t like a bargain, a deal, getting something cheap, etc, you get the picture.

But what if the three words are all used at once, saving money through fraud.

Doesn’t sound too good does it, the word fraud just makes it all ugly again. And yet, many of us are doing this and not fully knowing or understanding the implications of what we are doing.

We need insurance, and for some things, such as driving a car in the UK, insurance is mandatory, required by law.

So if you want to drive here in the UK, you need car insurance.

Owning a car can be expensive, between all the expenses of car finance, maintenance, MOT, Tax Disc, parking, etc, it can all add up. And depending where you live, car insurance may not be cheap. So how can you save money on car insurance, what are some of the tricks to save money.

* Limit your mileage

* Raise your excess

* Get the right policy and coverage

* Buy the right car, no expensive sport models.

* Use a post code that is cheaper.

Wait, what is that? Use a post code that is cheaper???

Car insurance premiums can be based on where you live, and where you park your car at night. Some post codes have a higher incident rate, such as theft, vandalism, or accidents.

So what “some people” do is use a relative or friend’s address because their insurance premiums will be cheaper. A trick to save money right?

It is a trick to save money, and also fraud!

Insurance companies are aware that people do this, regularly, and sometimes do tend to ask of proof of address; a bank statement, council tax bill, something that shows the address you are using. In addition, your drivers license should also have the address you are using for your insurance policy.

So by using someone else’s address for car insurance, you really need to think about it, and plan it out.

So not just fraud, but premeditated fraud.

The Number One (1) Insurance Trick To Try and Save Money is Really Fraud

Let’s say you do this, and for a few years you save money, but then one day you are involved in an accident, or your car is stolen of vandalised, and you place a claim with your insurer.

That claim could be denied based on the fact you gave inaccurate information at the time you took out the policy.

The Number One (1) Insurance Trick To Try and Save Money is Really Fraud

You could be out of pocket, and lose money to repair or replace your car, or worse yet, be considered uninsured and in an accident that is your fault, and someone is injured and seeks compensation from you!

But hey, you saved a few quid each year by using the wrong address.

This needs to be thought out clearly, and not just by the person using another address, but also the person whose address is being used. They know and are party to the fraud.

So just a word of warning, when taking out any insurance policy, we need to be as accurate, and truthful as we can be.

We like saving money, we don’t like fraud.

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