Exaggerating in home insurance claims is "fair game"
Monday, 18 April 2011 1:58 PM
Exaggerated home insurance claims over recent years have pushed annual premiums up by £13 for every British household.
This is according to AXA research which found that almost half of the population – 47 per cent of those surveyed – thought it was "fair game" or "not too bad" to add to the true value of a claim in order to get more back from the provider.
By comparison, just one per cent said they would exaggerate when calling in a debt from a friend.
Roughly one in 12 (eight per cent) of respondents have added to a home insurance claim in recent years by an average of £2,898, but over a third said they would add at least a smaller amount when making use of their home insurance policy.
"People see it as a victimless crime but, ultimately, honest policyholders foot the bill as insurers have to pass on the cost to their customers," said AXA's home underwriting manager James Barclay.
Typical areas where exaggerated claims are detected include the amount of cash said to be stolen in a burglary, along with spoiled food in a broken freezer – where many people claim to have had items like steak and lobster stored.
In the run-up to the 2012 London Olympic Games, claims for broken televisions might be expected to rise, as major sporting events often see a spike in people replacing their sets using a home insurance claim.
Want to be the first to know when we break a story? Follow @AboutProperty on Twitter and subscribe to our free weekly newsletter.
-
Tags:
- crime ,
- home insurance ,
- insurance
