Insurance fraud occurs most often when an insured individual or entity makes a false or exaggerated insurance claim, seeking compensation for injuries or losses that were not actually suffered.
- Arson-for-profit: An owner, or someone hired by an owner, deliberately burns a business, home or vehicle to collect insurance money.
- Disaster fraud: Unscrupulous operators persuade disaster victims (i.e. hurricane, fire, flood, etc.) to claim more damages than actually occurred, or they collect money to repair damaged property but never complete the work.
- Exaggerated claims: The most common perpetrators of fraud are those who overstate their insurance claims to make up for the deductible.
- Falsifying theft reports: A property owner reports items stolen or exaggerates the value of items taken in a burglary to collect insurance money.
- Vehicle scams: Vehicle schemes may include intentionally causing an accident to collect money; fabricating an accident to make false police and insurance reports; an auto body shop owner offering to 'hide' the deductible or inflate the extent of damage; vehicle owner intentionally destroys car to collect insurance; and, a vehicle owner uses another address or misrepresents other information to obtain a lower premium.
- Worker's compensation fraud: An employee falsely claims a work-related injury or exaggerates the extent of a minor injury to collect worker's compensation benefits.
Because of the economic impact insurance fraud has on businesses and families, we must do our best to get the problem under control.
To curb the growing problem of insurance fraud we need your help. Therefore, if you suspect an act of insurance fraud has been committed, please contact us.