For starters, your claim can be denied. Secondly (depending upon how aggressive your carrier is), they could have insurance fraud charges filed against you. Do you mind having a criminal record? Ask Martha Stewart which was cheaper....paying $1 Million in attorney fees for defending her current charges, or losing $50 Grand in the market?

I would recommend against this fraudulant activity. If you want "cheaper" insurance, raise your deductible or shop for another carrier.