How To Deal With Car Insurance Vehicle Frauds?

• Protect yourself with third party or comprehensive cover
• Use bumper to bumper policies to reduce your liability
• Enjoy facilities like zero depreciation and roadside assistance covers

There are many cases pending in the judiciary, where people have committed crimes for insurance money. Insurance fraud has been existing since the beginning of existence of this sector. Crimes ranging from false car theft to murdering the insured, have occurred to gain the insurance money. The insurance sector has suffered a loss of Rs.10,000 crore over the past decade (as of July 2017) due to such fraudulent activities. Studies show that such crimes are more observed more in rural India and at least 80 districts across the country are officially listed where insurance frauds occur frequently.

The insurance policy clearly states that ‘claim made for any malicious activity or previously occurred damages will be rejected’. Even then few people continue to try and fool the insurance company while making a claim. Many policyholders have also faced claim rejection due to staged-accidents or damages, and there are people who help stage a fake accident to get commission from the owner of the car for the same. In many cases, the owner has filed a fake report of the missing car to get insurance benefit.

Nowadays, data theft is a very common issue that all of us fear and with technology it can be easily accessed by miscreants who are capable of it. So, preserving your data on every digital platform is a challenge for you and the insurance company.

For any of the above-mentioned crimes, the insurance company will reject the claim, and the company can also black mark the policyholder. This may create a problem for the policyholder when he/she tries to purchase a new car insurance policy and the new insurer also may refuse to provide a car insurance policy.

If you face any issues wherein someone tries to impersonate you or your car is stolen, file an FIR at the nearest police station and inform the insurer immediately. This will help the insurer and the police to trace the impersonator if he/she tries to make a claim on your policy.

There are many cases pending in the judiciary, where people have committed crimes for insurance money. Insurance fraud has been existing since the beginning of existence of this sector. Crimes ranging from false car theft to murdering the insured, have occurred to gain the insurance money. The insurance sector has suffered a loss of Rs.10,000 crore over the past decade (as of July 2017) due to such fraudulent activities. Studies show that such crimes are more observed more in rural India and at least 80 districts across the country are officially listed where insurance frauds occur frequently.

The insurance policy clearly states that ‘claim made for any malicious activity or previously occurred damages will be rejected’. Even then few people continue to try and fool the insurance company while making a claim. Many policyholders have also faced claim rejection due to staged-accidents or damages, and there are people who help stage a fake accident to get commission from the owner of the car for the same. In many cases, the owner has filed a fake report of the missing car to get insurance benefit.

Nowadays, data theft is a very common issue that all of us fear and with technology it can be easily accessed by miscreants who are capable of it. So, preserving your data on every digital platform is a challenge for you and the insurance company.

For any of the above-mentioned crimes, the insurance company will reject the claim, and the company can also black mark the policyholder. This may create a problem for the policyholder when he/she tries to purchase a new car insurance policy and the new insurer also may refuse to provide a car insurance policy.

If you face any issues wherein someone tries to impersonate you or your car is stolen, file an FIR at the nearest police station and inform the insurer immediately. This will help the insurer and the police to trace the impersonator if he/she tries to make a claim on your policy.