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3 Various Scenarios for Organized Auto Insurance Fraud
Many Canadians are not even aware that there are many ways that you can become a victim of organized insurance fraud. It can result in huge insurance claim costs paid by your insurer and consequently, your premiums going up. Or, it could be even worse – you could be injured during an auto fraud accident! InsurEye’s infographic demonstrates the 3 most frequent auto insurance fraud scenarios to help Canadians to recognize and avoid them:
Swoop and squat: You hit a fraudster’s car after a sudden break on a road or highway
Drive Down: Your vehicle is hit by a fraudster’s car while driving out from your parking spot
Left Turn: Your vehicle is hit by a fraudster when making a left turn
Additional Ways to Increase Victim’s Insurance Payments
Each of previous scenarios can result in claim payments made through your (victim’s) insurance. But it is likely to become even worse: there are multiple ways that organized fraudsters can increase insurance payments:
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Repair costs: Further Damaging car in workshop to inflate repair costs
Rehab costs: Medical rehab treatment for all passengers in fraudster car (up to 4 people)
Income Benefits: Income Replacement benefits for all people in fraudster’s car
Unfortunately, all these costs will probably be paid for by your insurance. It will result in further increases of your insurance premiums. Thus, beware of insurance fraud and help to prevent it!
Experienced Insurance Fraud – What to Do
If you think that you’ve been a victim of insurance fraud, immediately contact the Insurance Bureau of Canada (IBC) at 1-877-IBC-TIPS (422-8477) or report the case at IBC’s web site: http://www.ibc.ca
