Lying on an insurance application can be an expensive mistake.
And yet, it's one plenty of people make. A new survey of more than 3,000 consumers from insurance marketplace CoverHound.com found that 51 percent of auto insurance applicants don't tell the truth. Men and women are equally likely to provide incorrect information, the site found, while millennials are more likely to lie than Gen Xers or baby boomers.
Some people are trying to pull a fast one by omitting mentions of recent tickets or accidents, but other inaccuracies stem from guesswork during the application process, said Keith Moore, the site's chief executive. Shoppers don't know the trim package on their vehicle, aren't sure how many miles they drive in a given year, or don't remember when they got that speeding ticket — and they don't double-check before submitting their application.
Whatever your intent, providing incorrect information for any kind of insurance is likely to catch up with you. "The truth always comes to the surface," Moore said.