Once your insurance company discovers that fraud has been committed, they report this information to the state and national fraud bureaus. Apart from fines and possible jail time, you will have a hard time finding insurance of any kind in the future. Your policy premiums will be much higher as well.
Because of this, home, auto, life, and even future health insurance claims will be closely monitored moving forward.
If you want a new car, consider selling or trading in your car. Most dealerships will give you a good price when trading in your car. If you can afford a car payment, you may also qualify for a low-interest rate.