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Prevent yourself from auto insurance frauds. Get essential information how people try to cheat and understand how you can protect yourself from these frauds. You will get vital tips that help you to get rid of from these problems.

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In recent years, auto insurance fraud has become a huge problem. Insurance is a must for every car owner to avoid financially distressing circumstances. Unfortunately, some people are taking advantage of this scenario with their cons and deceptions. Protect yourself from these frauds by understanding the matter thoroughly.

what is auto insurance fraud
What is Auto insurance Fraud?

Fraud means illegal. Car insurancefrauds occur when payments made for insurance conditions are not legitimate. These kinds of claims may be created by an individual or a group of scammers.

top 3 types of auto insurance frauds
Top 3 Types of Auto Insurance frauds

1. Staged Auto Accidents

This kind of auto insurance scam can happen in several ways.

  • Swoop and Squat:Three vehicles are involved, one belongs to the victim and the two belongs to the perpetrators. One vehicle would cut off the other causing the victim to rear-end the car in front.
  • Sideswiping: Criminals wait for victim, usually in a turn lane and as victim’s car is spotted, they would do sideswiping.
  • Panic Stop: The fraud master mind would place his car in front of the victim’s car and would wait for the victim’s eyes to be off the road for a second. Waiting for any opportunity of distraction, the perpetrator would slam on his brakes.
top 3 types of auto insurance frauds continued
Top 3 Types of Auto Insurance frauds(Continued)

2. Auto Repair Shop Fraud

In this kind of fraud, the auto repair shop is a part of an auto insurancefraud scheme. The shop would claim to have repaired damaged body or have replaced broken parts which neither happened.

top 3 types of auto insurance frauds continued6
Top 3 Types of Auto Insurance frauds(Continued)

3. Car Theft

People involved in this deceit would intentionally leave the keys in the car for an accomplice to steal.

effects on consumers
Effects on consumers
  • Higher Costs

Fraudulent automotive insurance claims increase the cost of policy for all customers. Insurance companies raise their rate because of frauds and get their money back.

effects on consumers continued
Effects on consumers(Continued)
  • Potential Injury

Hoaxers plan the accidents and involve innocent people. They try to keep inflicted injuries to a minimum (not fatal) but there are chances of serious injuries because of the impact of the scheme.

effects on consumers continued9
Effects on consumers(Continued)
  • Loss of Insurance

There are times that targeted victims lose their insurance coverage because of fraudulent accident. Insurance companies drop their new policy holders or those people who have multiple accidents.

effects on consumers continued10
Effects on consumers(Continued)
  • Lost Wages

Innocent victims involved in staged accidents may not be able to work because of serious physical injuries. The circumstances can cause them to lose wages.

effects on consumers continued11
Effects on consumers(Continued)
  • Lost Time

Insurance claims require lots of time and paperwork. The innocent target can be forced to spend hours filling out claim forms and many more.

tips to protect against fraud
Tips to protect against fraud
  • Be alert all the time while driving the car and realize the circumstances that might put you in danger. Protect yourself from these frauds by keeping ample distance between your car and the car in front of you
  • Don’t try to settle accidents at the scene especially by offering cash. Report the incident to your insurance company. Get names, address and phone numbers of the person in the other car and all witnesses.
tips to protect against fraud continued
Tips to protect against fraud (Continued)
  • Always try to bring a camera with you to take pictures of the vehicle damage and surrounding areas in the event of an accident. This will be a valid proof if anyone decided to file an insurance claim against you.
  • Report the accident to the police so that the matter will be better taken care of and you will have records to support your claim.

To avoid auto insurance frauds you should choose reputable auto insurance companies only. They will investigate and trace the fraud situation and provide you the best assistance.

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