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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.
Another study of all types of fraud committed in the United States insurance institutions (property-and-casualty, business liability, healthcare, social security, etc.) put the true cost at 33% to 38% of the total cash flow through the system. This study resulted in the book title The Trillion Dollar Insurance Crook by J.E. Smith.
Vehicle insurance in the United States (also known as car insurance or auto insurance) is designed to cover the risk of financial liability or the loss of a motor vehicle that the owner may face if their vehicle is involved in a collision that results in property or physical damage. Most states require a motor vehicle owner to carry some ...
Car theft is increasingly common in the U.S. In 2023, 1,020,729 vehicles were stolen, compared to 1,008,756 in 2022 and 794,019 in 2019, according to the NICB. That’s an increase of 28.5 percent ...
A car with one of its windows broken. Motor vehicle theft or car theft (also known as a grand theft auto in the United States) is the criminal act of stealing or attempting to steal a motor vehicle. In 2020, there were 810,400 vehicles reported stolen in the United States, up from 724,872 in 2019. [1] Property losses due to motor vehicle theft ...
Edmunds car value appraisal tool enables you to see your car’s value and compare it with other car values from KBB. It is a good idea to compare the value of your car using multiple tools to get ...
The average monthly car payment is now $554 for new cars and $391 for used cars. If you own more than one vehicle, those payments add up quickly. When you pay cash, you don’t have to worry about ...
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...