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Car Insurance Fruad & Scams

car-insurance-fraudCar Insurance Fraud Scams – Trends to Watch in 2014

 

 

• Two common auto insurance fraud scams.

• “One of the common, pervasive auto scams we see is the crash and buy scenario. A person has an accident but doesn’t have the insurance or the correct coverage, so they purchase insurance and then wait a day or two and submit a claim saying the accident happened after they bought the policy,” he said.

• “This started very heavily during the recession and continues today, very similar to the hit while parked claim the insured has an accident, they don’t have the correct coverage, or circumstances exist that they don’t want the insurer to know about. They park their car somewhere and they say that when they came back, they found someone had hit it and left, and then they filed a claim,” the NICB chief communications officer explained.

Roger Morris: Fraud Trends in 2014

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