Car insurance brings lots of business to the companies providing them. But do you know even the fraud rate is pretty much higher in car insurances? Yes, most companies complain of paying very high sums each year on an account of fraud car insurance claims which ultimately affects them drastically. This brings us to the need to be aware of the most common types of frauds happening in this genre.

The car insurance frauds that duped lots of companies

Always remember one thing, whenever any person claims car insurance and you have even a single doubt about it being fake, don’t hesitate calling an insurance fraud investigator from Oracle Investigation Services. They have the best trained investigators who know exactly how to track the minutest details of the car and the insurance frauds related to them. Once they look into the matter for you, they’ll provide you with the right proof and you can actually save your company’s funds because of this (or disburse the insurance with an assured mind). But just to be aware, read about the most common types of car insurance fraud claims below:

Vehicle dumping by the owner – Mostly, you’ll have claims of a disappearing or robbed vehicle by the owners and they claim the insurance amount from your company. But before you give in to this request. remember it can be a case of clear cheating. In such cases, most of the owners dump their vehicle at an unknown location or throw it across the hill and later claim that it has just vanished.

Exaggerating the repair cost – In such a case, you’ll find that the car owners tend to show you false bills of repairing the vehicle and claim double money from your company. While in reality the repair cost might not even be a fraction of the amount claimed. And in some cases, even the mechanic they choose is a cheaper one while the bills may portray the services of the topmost service centre of the city.

Planned vehicle theft – This sounds like movies, but in reality, there are car owners who deliberately and intentionally get their car robbed. Yes, regardless of the idea of who might be the robbers, they provide you with all the proofs required to establish a car theft. You can call it a crazy trick to claim the insurance amount. Sadly, many insurance companies have to give in to this fraud even though they are aware of it being false because of the proof provided by the person. (There are CCTV recordings of the car getting robbed as the thieves deliberately choose such a point to take the car and there would also be some eye-witnesses planted by the vehicle owner in such a case.)

Car towing scams – You as an insurance provider have to face a claim wherein the car owner will ask you to pay the heavy charges required for the car that’s been towed by the officials. While in reality it might be a towing-truck belonging to their friend doing the needful. You might as well be aware that the heavy sum of insurance never reaches the towing company they claim it for and is divided within the scammers.

As far as we can assume, you may already be nodding your head in affirmation that you have come across such claims and given in to the false cases. But it was before you read this post. Now you’ve the support of the investigators. Get deep into the matter and then save your company from paying such unnecessary bills.