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Clear Signs of Auto Insurance Scams

May 3, 2015 by  
Filed under Blog

Insurance claims for dented, vandalized, burnt, stolen or missing vehicles sounds like a creative way to make some cash, and an easy one too. Who can tell if a broken windshield has been caused an aberrant tree branch or a baseball bat, or whether a dent occurred before or after buying insurance? The company’s SIU, that’s who. Their trained insurance fraud investigators have access to computer simulations, forensic labs, phone records and assistance from law enforcement, and are quickly able to discern a set up from a genuine accident.

People looking to car insurance fraud for a quick buck will probably not be able to outsmart the SIU, and will likely face a cancellation of their insurance policy. They may even face a fine and a prison sentence, along with any eager cohorts who were in on the scheme. Let’s go over two common ways in which fraud attempts surveillance investigators can be busted.

Missing or vandalized vehicles

Now why would you want your car stolen or torched? If the surcharge on the defaulting payments is coming out to be more than what the car is worth, fraudsters may decide to get rid of the car, and reel in some insurance money for their trouble. They could leave the car, with keys inside, in a shady alley, or they could douse their vehicle in kerosene and light it up, blaming vandals for the destruction.

Not a problem for the SIU – with the help of computer simulations and a thermal pattern analysis, they can identify fires that were set on purpose. Stolen cars are eventually recovered, and are analyzed for signs of forced entry. In the absence of these signs, it becomes clear that the owner was unusually careless about the vehicle’s safety, automatically disqualifying insurance. The final nail in the coffin is the telltale default in recovered financial statements, which give the surveillance investigators the motive.

Excessive medical claims

Repeated trips to the doctor and exaggerated injuries from a fender bender give warning signals to SIU investigators, who are aware that unscrupulous doctors may be splitting some of the bills with the “patients” and the attorneys that recommend these doctors again and again. A damage analysis of the car can determine the impact on the driver, and medical experts can ascertain the severity of any reported injuries.

With technology and public records on their side, there isn’t much that the SIU can’t uncover. They can tell how old dents are through rust analysis; cross-questioning witnesses to discover any planted ones, and foil most attempts at defrauding insurance companies.

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