What Is Insurance Fraud?
A real accident may occur, but a dishonest landlord may take the opportunity to also report minor damages to the property that are completely irrelevant to the real accident. Insurance fraud cases are sometimes associated with exaggerated claims, including claiming damage to the house caused by other accidents instead of the accident reported in the claim.
People may commit insurance fraud in order to obtain more payment than the value of the property destroyed. People may also do this to destroy and subsequently receive payment for certain goods that could not otherwise be sold. Arson is frequently involved in insurance fraud. One reason for this is that any evidence that shows how a fire was started by arson is often destroyed by the fire itself. According to the United States Fire Administration, in the United States, there were approximately 31,000 fires caused by arson in 2006, resulting in losses of $755 million.
- Should You Purchase Insurance Policies for Your Rentals?
- What Are the Guidelines for Property Inspections?
- What Are the Guidelines for Comparison Shopping?
- How Can You Use Insurance to Protect Yourself From Disasters?
- What Is the Legislation in the United States on Insurance Fraud?
- What Is the Coalition Against Insurance Fraud?
- What Are the Key Features of a Successful Landlord’s Policy?
- What Is the Scope of Your Insurance?
- How Much Insurance Coverage Should You Purchase?
- What Is the “Ordinance or Law Coverage”?
- What Are Punitive Damages and Are They Covered by Insurance?
- How Do You Choose and Work With an Insurance Agent?
- How Do You Choose Your Insurance?
- What Are the Benefits of Selecting High Deductibles?