Brit drivers lie on insurance for their kids

Brit drivers lie on insurance for their kids | Insurance Business

Brit drivers lie on insurance for their kids

FAR OUT FRIDAY: Brit parents lie for kids, Japanese men insure for love, Big, orange, salty problem for marine insurers

Oh, bless ‘em. British mums and dads are more than willing to tell a few pork pies to reduce the premiums their kids have to pay on car insurance.

According to research conducted by an online comparison site one in five parents would lie about some aspect of the policy if it reduced the premium while one in ten would take the policy out in their own name instead, hoping their older, more experienced status keeps the cost low.

The only problem is that both of these are illegal and count as fraud in the UK and can invalidate insurance and lead to a criminal record.

Given that an average premium for a 18 year old is $4500 per year British parents are struggling to find the cash to have their offspring driving. Yet they are also fully aware of the consequences of their lies, choosing to take the risk thinking insurers probably will never find out. However nearly 80% did not know that price comparison sites 'red flag' consumers if details are repeatedly changed to obtain a lower quote.

Parents were encouraged to add themselves to their child’s policy which would lower the premium, by about $200!

Ladies – did your special someone forget the flowers and chocolates yesterday? Fellahs – were you that guy to forget the flowers and chocolates. Well a Japanese insurance scheme may be the solution.

In Japan the Valentine’s tradition is reversed and it is only women who give presents, typically chocolate, to men, and this creates unease for many men. The reason for the unease is that some poor blokes don’t receive any chocolates and that can be, well, uncomfortable.

That’s where Valentine’s insurance steps in. The service ensures a policyholder will receive a package on Feb 14 containing chocolates and a personal message from self-professed beautiful lady, Rieko.

It is true that you are buying your own present, and it only costs $5, and it does come from a beautiful lady – but having to pay a stranger for send you messages of love…

Insurers are familiar with long tail claims but what about a long-sail claim?

South Australian authorities have ordered that insurers of a lifeboat which washed up on a beach in a national park remove it within two weeks.

The ABC reports the lifeboat drifted from the wreck of the Maltese bulk carrier Oliva after it hit an island in the South Atlantic about half way between South America and Africa in March 2011.

The sun bleached, fluorescent orange lifeboat drifted for more than 15,000 kilometres from the wreck to the beach but it is its final journey off the beach which is the subject of debate.

The insurers can either refloat it or truck it out by driving along 30 kilometres of beach.

However the insurers may still score a win with a number of parties interested in purchasing the lifeboat and placing it on public display, proving that one’s person flotsam is someone’s else unusual insurance claim turned street-art.