Cost.co.uk Respond to Research About Insurance Fraud

Leading UK comparison site, Cost, has responded to new research that reveals the majority of insurance fraudsters are opportunists.

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While this can seem like a petty crime for everyday people and is tempting, it is illegal and really not worth the risk.

(PRWEB UK) 20 February 2013

The most common insurance fraudsters are otherwise honest people indulging in opportunistic low-value crime, reports MSN money.

The research from the University of Portsmouth examined 40,000 claims handled by fraud investigators VFM Services and found that the typical profile of a false claimant was someone ages 31-50 who had never made a false claim before. Men and women were equally likely to falsify a claim.

It also revealed that most false claims were for less than £500 and made to appear as accidental damage to computers, televisions and mobile phones.

Claims for computers, mobile phones, jewellery and carpets peaked in early autumn and 82% of claims were likely to be passed off as accidental damage as it requires no police report.

A spokesperson for Cost.co.uk said:

“This research reveals that it’s usually people that are normally honest individuals that are more likely to commit insurance fraud. The research also highlights that it is house insurance that is likely to be subject to this kind of fraud. While this can seem like a petty crime for everyday people and is tempting, it is illegal and really not worth the risk. If your claim is found out to be false, you could risk losing your policy altogether.”

Based in Essex, Cost.co.uk is one of the UK’s leading price comparison sites. Allowing their online customers to seek out great deals and offers for home insurance, pet insurance, credit cards, holidays and more. Founded in 2012, the agency has a trusted reputation for sourcing the most ideal policies at affordable prices.


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