18% of UK householders have embellished the truth or withheld information when applying for home insurance, according to new research from comparison site Gocompare.com home insurance.

52% of respondents said that they believe that insurers charge too much for insurance and so they can afford an untruth or two. This was a view held by the younger generation in particular, with 63% of those aged between 18 and 24 agreeing that premiums are too expensive.

The survey of more than 2,000 people revealed the information that some people have guessed at or withheld when obtaining home insurance:

• Renewal price – 34%
• The types of locks on their doors and windows – 12%
• Whether they are in an active Neighbourhood Watch area – 9%
• Whether their home is occupied or not during the day – 6%
• Said that they don’t smoke – 5%

27% don’t believe that withholding information on a home insurance form or exaggerating a claim is a form of fraud, and 30% say that everyone tells untruths when getting a home insurance quote, so it’s no big deal.

However, when it comes to making a claim it seems that people with home insurance are more honest, as only 4% admitted to exaggerating a home insurance claim, and 4% also admitted to having lied about the cost of the contents that were lost or stolen.

Ben Wilson, Gocompare.com’s home insurance spokesman, said: “While it’s worrying that a significant number of people apparently fail to see the harm in ambiguity applying for insurance, it’s encouraging that most are honest. Far from saving you money, telling a few fibs when getting a quote could come back to bite you should you need to make a claim and may even lead to your policy being cancelled or invalidated.

“Having an insurance policy cancelled can have a lasting negative effect, as when applying for insurance in the future you will be asked if you have had a policy cancelled or declined and, if you have, some insurers might not cover you, or charge you a hefty sum to do so.

“While insurers have to make sure they ask you everything that they need to know in order to calculate a premium and provide the right level of cover, the onus is on the consumer to be as honest and careful as possible when providing their answers and taking reasonable care not to make a misrepresentation.”

Wilson added: “Being as accurate and as truthful as possible when you are getting an insurance quote will get you a better policy, both price and cover wise.

“Before you compare policies, get all of the facts in front of you – information like what kind of locks you have on your windows and doors, and what the value of your contents is, for example – as being providing accurate information will help you get the quotes that reflect the cover you need,

“Honesty is always the best policy when it comes to insurance, as getting caught out when you come to claim means that not only would you have wasted money paying for the insurance in the first place, and facing the prospect of footing the bill for any repairs or replacements yourself, but you could also end up not getting insured or paying through the nose to be protected in the future.”