Sunday, Sep 13, 2009
Dishonesty now "mainstream"?
Independent: 14% of people lie to get cheaper insurance
After liar loans here we go with liar policies. Does anyone actually tell the truth in the UK?
Posted by chrisch @ 06:53 PM (770 views) Add Comment
9 Comments
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1. new_order said...
It is common practice to lie to sell insurance, why not lie to buy it!
2. wiltshire said...
"Does anyone actually tell the truth in the UK?" - well presumably the other 86% do?
As new_order says, I don't think the insurance business can claim to be a paragon of virtue can it?
One man's lie is another man's small print.
3. Sensiblebear said...
The liars applying for insurance policies are only hurting themselves though. If you lie on a policy or even just fail to tell them something important even if they don't specifically ask your insurance is void - if they find out they won't pay you a penny. Very much a false economy!
Lying to take out a mortgage though hurts the rest of us by inflating prices and causing the rest of us to bail them out when they go bankrupt.
4. paul said...
Insurance is a crooked business anyway.
If you think about it, when you loan a library book, you don't pay an up-front charge in case you lose it. Neither are you expected to cover other people's costs if they lose their books. At very best, you might be asked to pay an excess or deposit, but only payable or forefit when an incident happens.
However that's not how home contents or motor insurance works - you pay the full whack even if you don't claim. Insurance companies of course like it this way because it maximises profits for them (everyone pays) and minimises payouts (only a tiny number claim).
The idea that you build up a "no-claims bonus" is also an underhand way of preventing low risk insurance consumers of shopping around as low risk customers. Isn't it funny how you are scored for being a low credit risk, but never scored for being a low insurance risk. The insurance companies like it that way.
Crooked businesses begat crooked customers.
5. phdinbubbles said...
Insurers also lie to avoid paying out on legitimate claims and people also make fraudulent claims.
"Does anyone actually tell the truth in the UK?"
They do, but they usually have a downtrodden expression on their face.
6. happy mondays said...
As role modals & upstanding influential part of the community Mp's may have told the odd little white lie, i think GB may have told a little one as well No More Boom Or Bust ! Reasons to go to war could well be a sway from the truth.. I think the odd car salesman might have bended the truth, maybe just maybe ea's speak with fork tongue to make personal gains.. The media might exaggerate a bit to promote themselves.. But Hey ho, no worries, I'm of to my spaghetti tree to get dinner..
7. voiceofreason said...
Check this out, on the moneysavingexpert website, a tool to pick out the best way to describe your job description to lower your car insurance
http://www.moneysavingexpert.com/insurance/car-insurance-job-picker/#sectors
I could've saved £8 by going from computer consultant to chartered engineer !
8. phdinbubbles said...
@6 voiceofreason
What a great tool - A Judge can save 3% by pretending to be a Fraud Investigator.
9. crunchy said...
Doing most things legally in this country has become too expensive.
Many have to lie to become nearly legal or indeed to buy a home.
What happens when all those loopholes no longer are an option?
What happens when we become a cashless chipped society and we have to chip in for everything we, or they want us to do in order not to
get chipped off the grid.
Yes brainweed we are truely doomed. Ironically the arrogant, living in their pillowed neo plastic card reality we be the last to know.
It is then we will know all about the debasement of currency and where the role of inflation finally plays out!
Some might want to give this some serious thought. Mastercard being a good place to start and some thought about the rising cost of
producing worldwide coinage due to inflation. Or you can take the lazy route and dismiss it.