When we hear the news about the insurance frauds happening around on a daily basis, all we can say is insurance is a subject matter to private interests. Yes, this is one medium that anybody uses in any kind of way to get maximum benefits from it. Whether it is the insurance company itself or the people who tend to file the claim, they twist and turn the policies as per their conveniences so that they can get the finances from it. However, at the end of the day, twisted methods are often frauds. And it is very important for you as a responsible citizen to know about the common insurance frauds happening around you. 

Common Insurance Fraud Cases Noticed!

Just as these frauds are very common, remember that it is not easy to spot the fraud. The culprits can be very smart and tactful, and you might never even know if there was something wrong in the case. In such a case, the insurance claims investigator helps a lot in finding the trickery along with solid proofs in the least possible time. And if you want to know the most common insurance frauds happening around, read on.

o   Application Fraud – Probably the most common kind of insurance fraud is the one when a person provides false details in the application form submitted to claim the insurance. Like, someone applying for car insurance might put double the amount for the damaged part in the application which is obviously a fraud. But remember, this information is claimed as a fraud if the applicant intentionally lists wrong information. A single unintentional mistake here and there isn’t fraud.

o   Illegitimate Denial Fraud – The illegitimate denial fraud is the one that often the insurance companies commit. Some companies are not reliable and when you claim a certain kind of insurance from them, they tend to deny the amount stating something that is not listed in the policy. Like, if your property is damaged in some way and you are claiming for the insurance, they will list it under the natural calamities policy and won’t approve the insurance. Often the agents of these companies tend to confuse you by granting more and more paperwork so that you are demotivated and leave the claim midway. 

o   False Claim Fraud – Some people have the habit of contacting the insurance companies under false claims just because they require some money. They will imitate any kind of incidents like an accident or an injury or car damage just to get money. The insurance companies have to hire a detective in Melbourne from Oracle Investigation Services to find out the real facts and save themselves from such fraud. They have a team of expert investigators who can find facts and solid proofs discreetly in the least possible time. 

 Apart from these most common insurance frauds, there are also fake death fraud claims, identity theft fraud claims etc. that are just carried out to get some money out of the insurance companies and cheat others. Remember to be aware of these frauds and try to educate others about these as well.