Gone in 60 seconds: Theft Auto and car insurance rates

A recent report by Security Office of crime (NICB) indicates that one of the main factors driving (not intended) behind the increase in auto insurance rates is an auto theft.

, However, there is a twist: in many cases, are these car theftin sceneby the owner themselves. Although NICB relationships, a general decline in theft of car (more than 17% last year), a form of fraud insurance is defined as owner give-ups has been increased.

What is that?

NICB, according to the report owner dispense ploy is something that happens when a vehicle owner (one with Auto complete coverage ) literally describes the disappearance or destruction, even if your vehicle the car in question. "disappears," after the owner of the file a complaint. latest lie the remains of the vehicle in a river or Lake, or other area remote.

Neglect of the owner is simply a variation of the scam that is causing some adhesive for honest, people when they go out to scene of theft hits buy car insurance.

Other fraudulent schemes

When the owner of a vehicle is a vehicle needs serious and costly repairs, you can try to what is known as "special 30 days". Basically, the author points out stolen vehicle and submit a demand for your car insuranceDemand for what has happened is that the owner has hidden the vehicle in a unit of storage or a garage somewhere, or even of the buried.Meanwhile, the insurer has 30 days to pay.

Know what happens once the author collects their settlement and cash the cheque.?

Fraud export is yet another scheme that works with a criminal organization.The copyright owner has a bank loan to the vehicle, then goes to buy car insurance to buy it.He below, sells your organization contact local crime, which then loads the vehicle in a position of shipping overseas. he files a claim with its insurers "stealing": checks on the control of insurance is his court by Tony or Ivan.

The most creative regime, however, is the vehicle that doesn't exist yet. registration of delinquent documents for vehicles, a "ghost car" forging: generally, vehicle car or selector classic luxury-, then "stolen" and reported to the local authorities before credit is stored with the insurer.

You have a dog in the fight

Remember that the fight against fraud costs insurers cannot swallow such losses, but spend you, honest motorist. The NICB encourages who suspect a fraud case to get in touch with their hotline at 1-800-835-6422. You will not have to provide your name and in some cases offers a reward.