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Daily Insurance Industry News
Friday 20th of April 2018
February 11, 2012

Exaggerated home insurance claims up 17%

by Gill Montia

Story link: Exaggerated home insurance claims up 17%

Exaggerated home insurance claims up 17%

The number of Britons exaggerating their home insurance claims appears to be rising.

Research carried out by AXA UK shows a 17% jump in those prepared to enhance their claims in the past year, with an estimated 200,000 consumers having added an average £607 to the cost of a claim.

According to the study, insurance is increasingly seen as a soft target for making a bit of extra cash when money is tight, with 12% of AXA’s respondents saying that they are more likely to consider making an exaggerated claim now than three years ago.

Alarmingly, only 45% of those questioned consider an exaggerated claim for damaged or lost property to be dishonest.

What is more, when asked what other kinds of behaviour they considered to be dishonest when making a claim, participants responded as follows:

58% considered it was not dishonest to neglect to mention previous claims.

56% believed it was not dishonest to say windows/doors were shut or locked at the time of the theft when in fact they weren’t.

48% felt it was okay to submit a receipt belonging to someone else in order to make a claim.

43% believed deliberately damaging an item to make a claim was not being dishonest.

Commenting on the findings, AXA UK’s head of fraud, Steve Gaywood, says: “As an industry we are well aware that these things go on and we are introducing measures all the time to try and reduce the amount of fraud that occurs.”

He adds: “Ultimately, if consumers get caught out they run the risk of having the whole claim turned down as well as facing problems getting insurance in the future.”

 

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