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Avoiding Auto Insurance Fraud

Auto insurance fraud has been in existence since insurance became a marketable enterprise. This hideous scheme accounts for substantial loss for auto insurance companies. Unfortunately, even the unsuspecting public becomes victim to this repulsive act. What then should you do to avoid being victimized by rampant auto insurance fraud?

There are several guidelines you can take follow to avoid being a victim. First, arm yourself with sufficient knowledge about auto insurance. Be an informed consumer by researching and soliciting the best advice possible. One way to obtain this is through the biggest source around — the Internet. Search through various reputable insurance companies and study their features, weighing their good and bad points. Scour and compare auto insurance quotes from these insurance firms since premiums differ considerably from insurer to insurer. Avoid being scammed through overpriced policies by shopping around for the best deal you can find.

Now, if you happen to have an agent or broker, make sure that he or she is licensed. It doesn’t even hurt to ask for proof. Another way to verify would be to inquire at your local Insurance Licensing Bureau. The truth is that there are quite a number of unscrupulous agents out there who lure unsuspicious victims to pay on policies that are illegitimate or don’t provide proper coverage. You should be assertive and decisive, don’t just outright believe what the insurance agent is telling and dictating you to do. Regardless of whether it’s your first time getting car insurance or you’re a seasoned pro, speak up and voice your doubts about coverage you’re being offered. After all, your money’s at stake.

The insurance policy is another very important aspect of the insurance you should look into. Before signing, be clear on all the details of the policy and that all the coverage you requested is included — and that coverage you didn’t request isn’t. After you receive you policy, read it through thoroughly. Make sure that everything’s there and check if you have the correct coverage, limitations and the precise auto insurance quote as agreed upon.

And finally, be aware of drivers on the road looking to be involved in auto insurance fraud. These are the drivers who will cut you off in hopes of making you rear end them so they can collect on insurance payouts. To avoid being a victim, be fully aware when you drive. And, if in an accident, immediately call the local authorities and have the accident documented in details. Be alert, survey the accident scene and if possible take pictures of the vehicles, focusing on the actual damage.

Follow these steps, and you will improve your chances of avoiding auto insurance fraud.

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