Drivers lie over claims to insurance companies
Millions of British motorists would lie to insurance providers to avoid jeopardising their claim, a new survey suggests.The study by Moneysupermarket found that 2.5 million drivers in the UK would bend the truth to ensure they received a payout.When asked what they would do if they had failed to lock their car properly leading to it being stolen, 26 per cent of motorists said they would resist telling the truth until their conscience caught up with them.Only 18 per cent of motorists said they would give the full facts without being pressed, while 41 per cent would own up to their carelessness if asked. "It's extremely worrying that one in three drivers would actively attempt a cover-up if their carelessness led to a claim," Richard Mason, managing director of insurance at moneysupermarket, said."People may not see the omission of certain facts as fraud, but if these facts helped lead to the claim then thatÃ¢â‚¬â„¢s exactly what it is. "We would urge all drivers to tell the full truth; insurance fraud is a criminal offence and the overall consequences could be far more costly than the sums they are trying to salvage by being economical with the truth."Insurers are often seen as the bad guys, but there are two sides to any relationship and drivers need to own up to their mistakes," he added.It seems that the Welsh are most honest when it comes to revealing the truth, with a quarter saying they would have no problems admitting the true sequence of events.
UK consumers amassed £24 billion debt in downtown
A report by the USwitch website has today cast a very different shadow on the UK consumer market to the one which has been hitting the headlines of late. It is reported that UK consumers, narrowed down to "shopaholics", have amassed a massive £24 billion debt during the ongoing economic troubles. There are around 4 million women and 3 million men defined as "shopaholics" by the survey, i.e. shopp...Read More
Saga predicts spike in home thefts
Home insurance firms are braced for a flurry of claims in upcoming months, Saga suggested today.New figures from the provider show that burglary numbers in November are 24 per cent higher than those in February.The report also said that thefts from homes are at their highest levels from October to December, with a particular rise generally seen after the clocks go back to GMT.This occurs on Sunday...Read More
Is the IMF set to run to the rescue of the UK?
Despite repeated denials by the UK government the spectre of help from the IMF looms large on the horizon as the UK economy continues to head downwards. The IMF is currently heavily involved with regards to a rescue package for the Turkish government although talks have been suspended for 10 days to allow a period of reflection. There is intense speculation that unless we see a significant turnaro...Read More
British Gas five-year price freeze comes to an end
Around 460,000 British Gas customers who signed up for a price freeze deal in 2005 are about to see the deal come to an end and a significant increase in the cost of their gas. The deal saw the 460,000 customers in question pay £820 for their gas which is around £370 less than the average bill today - which is £1,194. As a consequence, there are many people who will receive an unwelcome surpris...Read More
Is It Worth Using Collateral To Reduce Loan Costs?
When you strip away the hype, the different payment terms and the array of different loan offers in the market the bottom line is the same, the more guarantees you can give to repaying your loan the better the rate. For this reason alone we are seeing more and more people using assets which they hold, such as homes which have been paid off or investment bonds, as collateral in the hope of obtaini...Read More