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Cases of consumer insurance frauds

With car insurance getting popular, by the increase in the number of cars on the roads, the cases of insurance fraud is also increasing. People try to deceive the insurance company by reporting fake damage to their car or exaggerating the amount of injury caused during a collision with the intention of gaining compensation illegally.

 Such people are found culprits of the insurance fraud. Generally people fall for this unlawful act because often funds are given by the insurance companies in case of any damage to the car for the replacement of the parts.

In a temptation of getting funds from the insurer people can for frauds that are far harsher. This can involve people damaging their own car intentionally by driving carelessly, setting fire to the car, etc to get the money from the insurer or to run away from their car loan. Another trick is to intentionally cause a collision in such a way that it looks other party’s mistake. This can be risky for the people involved as well as a serious insurance fraud.

Drivers or owners who are always in the look for opportunity to damage their car and thus collecting money from the company sometimes also lure the thief to stole their car. They can do this by leaving their car at eye-catching spot or by leaving the keys in the car itself. In extreme cases drivers themselves plan the theft of their car. So, any firm approach of damaging one’s own car may lead to serious fraud.

That was all about cases of fraud insurance but if you have been trapped in such a case without being a offender you posses the right to protect yourself by having the complete knowledge about different kinds of insurance fraud, consequences of lying to your insurer and criminal trials and all the related stuff. There are many website especially for this purpose.

Since these false practices are on their high insurance companies are getting stringent in their insurance packages and investigation before handing over the money to the person who is claiming. In this regard many steps have been taken by these companies like installing lie detector software that will compare different data and find out irregularities. And the one who is found guilty is liable to pay penalty to the insurance company which can include cancellation of the insurance companyFind Article, blacklisting in all car insurance companies and sometimes going to jail.


Source: Free Articles from ArticlesFactory.com

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