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Car insurance fraud occurs when a person lies about an event in order to earn an insurance claim (or a higher payout) or a better rate. Insurance fraud can result in serious penalties, including incarceration. Car insurance fraud can range from something as basic as lying about your home to something as serious as staging an accident.
Here we can see that between February to march there was a peak in fraud claims. Car insurance fraud happens when someone lies or creates an omission in order to obtain a lower insurance rate or a greater claim settlement. A simple deception, such as listing a bogus ZIP code on your policy information to get a reduced rate, or something more serious, such as intentionally causing an accident to receive an insurance claim, are both examples of car insurance fraud.
Looking at the statistics it can be interpreted that the females have been the victim of insurance fraud slightly more than men.
Unfortunately, victims of vehicle insurance fraud ranged in age from 36 to 40. In this case, the fraudsters may be mechanics or insurance agents who would deceive the general public about broken air bags or wind shields and then collect the insurance money.
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