Auto insurance fraud is a serious problem and it ends up costing American drivers billions of dollars. The more auto insurance fraud that is committed, the higher auto insurance rates must be to combat the fraud dollars lost. The Coalition Against Insurance Fraud estimates that insurance fraud costs Americans around $80 billion per year. This outrageous statistic worries insurers as they try to keep prices down for their customers. Not only does it hurt American drivers, but it hurts the insurance company’s bottom line.
First Acceptance Insurance, a provider of quality auto insurance in the industry for over 100 years, is taking steps to limit the amount of fraud affecting their company. They’ve outlined the necessary steps to take if fraud is suspected. They offer phone numbers, and emails including information for the National Insurance Crime Bureau. There’s an email for Special Investigations Unit which is dedicated to stopping fraud in its tracks. Taking the time to report suspicious behavior is greatly appreciated by these fraud units.
Representatives are available to talk to individuals about potential fraud situations. They are trained to recognize fraud early in hopes that dollars can be saved and the losses aren’t passed onto honest drivers following the rules. During these tough times, perpetrators are feeling desperate and are turning to dishonest practices to make money. Even small embellishments on insurance claims can add up to big costs that hurt the entire insurance industry.
Written by Sara Smart
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