Cheap Auto Owners Insurance Avoid And Fight Fraud
posted on 13 March 2011 | posted in
Business and Finance
There are a lot of things that affect how cheap auto insurance rates are. Some of them are directly based on what you do or don't do. However, some have little to do with you. Here's one...
Insurance fraud is a subject of interest because it costs the industry a lot each and every year. Don't shrug it off as none of your business if you are a policy holder because you are actually the one bearing the whole brunt.
Did you know that insurers calculate rates based on a variety of factors? Do you know that one of those factors is their loss history? That is, the more the amount they spend on paying out claims the previous year the higher the rates their policy holders will get.
Therefore, if you know folks who are attempting to defraud an insurer with false claims, don't just wave it off as none of your business because it actually is your business. Report to the appropriate authority. If everyone does his or her bit, we might soon reduce auto insurance rates for everyone.
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