Parents willing to break law to save on car insurance, says firm

Tue, 18 Sep 2007

Parents are willing to break the law to help their children get cheaper car insurance premiums, it has been revealed.

Research from Gocompare.com has found that 66 per cent of parents would consider insuring their child's car in their name to save money on car insurance premiums .

The company notes that this is against the law as it is classed as fraud, which could have serious consequences for those considering committing the crime.

Managing director of Gocompare.com Hayley Parsons comments that the amount of parents breaking the law is "worrying".

She remarks: "With car insurance premiums reaching their highest ever levels, it's only natural that parents would want to help their children get on the road.

"But, I was surprised that so many were prepared to lie to their insurance company to do so."

Ms Parsons states that this practice is also "false economy" as young drivers will eventually benefit from building their own no claims discount .

In other news today, the latest study from moneysupermarket.com found pensioners in the 60s and 70s will pay less for their car insurance than those in their 30s as they make fewer claims to car insurance companies .

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