Cheap car insurance news
03/08/2010
Fraudsters warned
The Lloyds Banking Group have warned would-be insurance fraudsters that making a fraudulent claim is an offence which can result in serious consequences in the form of criminal prosecution and the loss of the ability to find cheap car insurance.
There is plenty of evidence to suggest that fraud has increased over the past two years, partly as a result of penny-pressed drivers responding to the economic downturn and partly as a result of an industry-wide squeeze on cheap car insurance.
Dave Berry, Lloyds Banking Group's Manager of Financial Crime, said, "Our message to anyone considering making a fraudulent claim is that it really isn't worth the risk.
"Anyone found guilty of committing insurance fraud will have their claim invalidated, and is unlikely to find any company willing to insure them in the future. They may also get a criminal record."
The chances of a young driver being able to find cheap car insurance have shrunk dramatically during the past three months, with the AA revealing that premiums have risen by 11% between the beginning of April and the end of June.
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