Drivers take unnecessary risks to stay on the road

Millions of drivers are considering taking drastic action to reduce the cost of keeping their cars on the road, according to new research from leading car insurance comparison website Gocompare.com.

The survey of over 1,500 UK motorists reveals that while almost two-thirds say they are beating the credit crunch by using their car less and driving more fuel efficiently to save money, an alarmingly high number of drivers admit they would consider withholding information from their insurance company to reduce their premiums. 22 per cent said they would consider lying about the exact nature of where their car is parked, while 28 per cent said they would withhold information about their exact annual mileage if it would reduce their premium. The true cost of the vehicle and the nature of its use (business use or domestic) were also mentioned by more than 10 per cent of drivers.

In addition to withholding information from insurers, many of the drivers surveyed said they would consider cutting back on cover at their next renewal by excluding options such as a courtesy car (57 per cent), breakdown cover (40 per cent) and legal expenses cover (36 per cent).

Hayley Parsons, chief executive of Gocompare.com, said: "On the one hand, it is understandable that motorists are economising by driving more efficiently, but it's worrying that so many are considering such a risky approach to saving money as withholding information from their insurer. With people feeling the effects of the recession, everyone is looking to save on their outgoings. The important thing to remember is that whilst it might be tempting to alter certain details or omit key information, this is treated as fraud by insurers and could result in your policy being invalidated."

"There are lots of ways to save money on your motoring but doing away with benefits such as breakdown or legal expenses cover shouldn't be one of them. You could now buy a basic breakdown policy at £22.90 so you don't need to break the bank to protect yourself, and the cost of not having this cover can be so much more."

"This research reveals an unnecessary level of risk taking both in terms of withholding information and cutting back on cover. Lying to your insurer is fraud, and is completely unacceptable, while many motorists may not need to compromise on their level of cover, to save money. Using a comparison site often means you could find almost identical cover but at a reduced premium. The best comparison sites show all the product features as well as the premium, making it easier than ever for motorists to compare their renewal quote with the cover on offer from other providers."