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Insurance loan claim news: Britons 'are exaggerating damages'

Britons - some of whom may have made an insurance loan claim in the past - are trying to swindle extra money out of home insurers, it has been claimed.

According to AXA, a growing number of people are exaggerating damage caused to their properties when they file a home insurance claim.

Tens of thousands of Britons have been caught out by their insurer when attempting to increase the value of their claims.

It seems that the problem is getting worse, as there was a 17 per cent increase in the number of people making a false claim to their insurance company in the past 12 months, with an extra £607 being added to the average case.

This, AXA bosses stated, has resulted in up to £13 being added to home insurance premiums.

It is perhaps unsurprising that many Britons are taking underhand measures to boost their financial standing, as recent research conducted by Skipton Building Society showed that many consumers are now paying for their "reckless" credit card spending in 2011.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801290851-ADNFCR

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