Auto Insurance Fraud: How to Catch, and Avoid it?
Posted in AUTO BODY, on June 02, 2020 By Admin
Auto insurance fraud is any deception to the insurance company for financial gain. This isn’t something that we think about, however, these insurance scams can happen to anyone, as scammers often focus on an easy target.
According to the Insurance Bureau of Canada (IBC), auto insurance fraud incidents are believed to cost Canadians well over $1 billion a year in added insurance premiums. Even if you are not directly involved in these sleazy scams, the auto insurance scams still affect you by slowing the legitimate insurance claims or by increased premiums.
Here are the five common types of insurance frauds:
- Inflated Tow, Store & Dent
- The Blank Form
- Staged Collision
- Fake News
- Hot Cars
Auto insurance fraud can happen to anyone, click here to read more on how to identify five common types of insurance fraud and tips for avoiding fraud after a collision.
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