“Little White Lies” Can Impact Auto Insurance Premiums

“Little White Lies” Can Impact Auto Insurance Premiums

Unreported life changes and little white lies have a big financial impact in the auto insurance industry – and in the end the everyday consumer.

Rate evasion, the term used to describe the inaccuracies on auto insurance policies – whether intentional or accidental – that result in lower than they should be premiums for the policyholder costs the insurance industry $16 billion a year, according to Bob U’Ren, senior vice president of San Francisco-based Quality Planning.

“They have an impact certainly,” U’Ren said.

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