It’s easy to fudge the facts when you compare auto quotes. And it’s okay to do so if you’re only looking for ballpark quotes for car insurance. But when it comes time to actually sign on the dotted line and enter into a contract with an auto insurer, the very last thing you want to do is to tell a few white lies you figure they’ll never have a way of finding out. Because they can and they might.
One of the most frequently told lies—and one of the biggest mistakes that you could possibly make when buying car insurance—is the failure to report a licensed driver who lives in your home and who may use your car on occasion.
An awful lot of people, understanding that having a teenager in the house can send their rates sky high, often lie about this to prevent from having to dig deep on premiums. The only trouble is, if that unregistered teenager happens to get into an accident while driving your car, you could end up having to pay for the damages yourself if the insurance company refuses to cover you, or worse. Your insurer might even drop you altogether for purposefully lying on your contract.
In the end, paying a few dollars extra here and there just to keep things honest between you and your auto insurer is the best possible option. Anything else, and you’re taking unnecessary risks that could lead to financial disasters.