Mey's Insurance Services Blog Lying on an auto insurance application.. the benefits vs consequences

I am currently taking a class on becoming a tax preparer, and in that class I drew some comparisons to the insurance world. Today I will specifically be talking about some of the common "details" that customers fib or flat out lie about on the application. Much like the insurance world, there are certain misinformed individuals that believe that omitting or flat out lying on their tax return is beneficial to them. Although the "benefit" is immediate, the consequence can be far more costly in the end if you are discovered. The insurance purchasing process is a data entry process and interview at the same time. You inquire on the customer's specific information, such as address, telephone number, name, birthdate, marital status, and so on and so forth. The application of an insurance policy includes language that expressly states that lying on the application is grounds for a denial of coverage, or even in some cases, prosecution in the court of law. Here are a few examples of what people lie about when purchasing auto insurance: