How Insurance Fraud Effects Insurance Premiums

5 Steps To Building Your Financial Foundation

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Health Insurance Online

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Direct Insurance or Group Health Insurance

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Classic Car Insurance or Van Insurance

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Insurances

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How Insurance Fraud Effects Me

Topics: General Insurance, Insurance Added on: Monday, August 10th, 2009 Posted by: yourwealthpuzzle Leave a Comment

Insurance fraud effects you – even if you are not personally involved in fraudulent acts. Because of insurance fraud, insurance providers may be forced to increase your insurance premium.

Insurance providers lose billions of dollars annually due to insurance fraud. One way for them to recover that lost revenue is to increase policyholders insurance premium. Another way is to try to reduce or prevent fraud – and you can actually help here. If you are aware of fraudulent activity – report it to your insurance company, the federal fraud bureau or your state’s department of insurance.

Fraudulent claims are not always obvious and can occur with all types of insurance claims – auto or home claims, workers comp or medical claims. Be aware – fraud effects everyone.

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