Are you lying on your car insurance application?Lying on your car insurance application could lead to serious consequences. Your policy could getcancelled or your reported claim could be denied, or worse, you might be denied car insurancecoverage in the future. If you’re found guilty under the Insurance Act, there’s a chance you could befined up to $100, 000 for the first offence. Clearly, being honest on your car insurance application cansave you precious time and money.If you’re even so much as THINKING about fudging these details on your application, think again:Miles drivenSome people might unintentionally make a mistake about the number of miles they put on their car,while others might intentionally lie about the number of miles they drive in order to get a low-mileagediscount. In either case, underestimating the number of miles you drive on your car insuranceapplication is not a good idea. Try to be a little vigilant about the miles you put in on your car. If you’verecently switched jobs and your commute has gotten longer, make it a point to call your insurance agentand let him know as soon as possible.Not listing all the licensed drivers in the household on the policyParents to teenage drivers sometimes ‘forget’ to add their licensed teenaged kids to their policy.Teenagers are inexperienced and are considered as high-risk drivers by insurance agencies. Hence, ifthey wish to buy individual policies, they are charged considerably higher premium rates. Adding themto your policy is a comparatively cheaper option. Instead of not adding them to your policy, considerother ways of lowering costs. Insurance companies offer discounts to young drivers as well. Discountssuch as good student discount, defensive driver discount and discount for installing security devices toyour car are a few to look into.Lying about where your car is parkedThis is a common problem in big cities. People don’t have space to park their cars and are forced to lieabout it on their application forms. Parking in a garage might cost you a little more than parking on thestreet, but it is ultimately the safer (away from the city’s wear and tear and bad weather) and a moreconvenient option.What your car is used forSome people use their car for daily transportation, but there are others who use their car for business.Such people might be offered a discount by some insurance companies. It is in your best interest to bevery clear about what you’re using the car for when filling in your car insurance application.You might not realize it right away but providing inaccurate information to your insurance providerdeliberately to lower your premiums is NEVER a good idea. What you do to get temporary discountsmight actually cost you a big buck. Be careful, be wise.