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A staged crash, or crash for cash is when criminals maneuver unsuspecting motorists into crashes in order to make false insurance claims. The cars generally suffer little damage in relation to the large demand that is then fraudulently submitted. According to the Coalition Against Insurance Fraud, staged car crashes are a growing criminal problem.
Ben Fletcher, director at the Insurance Fraud Bureau, said: “Young and vulnerable people are constantly being targeted online with fake car insurance deals that are too good to be true, and if ...
Fraud rings or groups may fake traffic deaths or stage collisions to make false insurance or exaggerated claims and collect insurance money. [19] The fraud may involve the engineering of a deliberate collision with the innocent driver of another vehicle. [20] Some fraud rings involve insurance claims adjusters who authorize payment on the ...
A bank created fake accounts, forced clients into unnecessary car insurance and repossessed vehicles when they didn’t pay. Now it has agreed to $20 million in penalties
Key takeaways. You should have another policy in effect before canceling your existing coverage to avoid your future car insurance premiums increasing substantially due to a lapse in coverage.
Insurance fraud includes a wide variety of schemes in which insureds attempt to defraud their own insurance carriers, but when the victim is a private individual, the con artist tricks the mark into damaging, for example, the con artist's car, or injuring the con artist, in a manner that the con artist can later exaggerate.
An auto insurance claim is essentially your way of notifying your insurance provider that you’ll need to use your policy to cover expenses after your car is damaged in a covered incident. The ...
Policy number: This is a unique number assigned to your car insurance policy. This helps your company find your exact policy when you make changes or file a claim. Policy term: ...