|
"Failing to report such changes -- because either you forgot or you're hoping to lower your car insurance rates -- cost the auto insurance industry $15.4 billion in revenue in 2010."
Explains the most common reasons why the industry lost 15.4 billion in revenue and why a customer could be dropped for lying, lying by omission, etc. after a claim.
Basically, you may save a little bit of money by not being truthful, but if you need to make a claim and you haven't been honest, you may not be able to renew.
|