“Lying to your insurer and trying to scam the company will backfire with unpleasant consequences”, said Russell Rabichev, Marketing Director of Internet Marketing Company.
LOS ANGELES (PRWEB) March 02, 2020
Each year, billions of dollars are lost due to car insurance frauds. To compensate for their losses, insurers raise the cost. People caught committing frauds or attempting to commit frauds are severely punished. The exact penalty depends on the type of fraud and its severity. The main types of frauds are:
- Soft fraud. Also called opportunistic fraud, is a minor offense, in which a person takes advantage of certain situations, and straight-out lie their insurer to gain money or benefits. For example, a person that applies for an insurance policy lies to the insurer to get a better deal. Usually, those persons lie about how much miles they drive each day, where they park and keep their car, who is the primary driver, how the vehicle is used, marital status and college degrees. In other cases, persons that were legitimately injured in accidents will exaggerate their injuries to get more money or additional medical services.
- Hard fraud. Hard fraud is a serious offense that involves actual damage taking place. Deliberately causing an accident, setting up your car on fire, claiming your car was stolen while you hide it, cause millions of dollars to be lost by insurance companies every year. These losses will be reflected in the higher premiums paid by the customers.
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