Insurance Fraud

wpInsurance is there to protect you and your property, giving you a sense of safety and security. However, it’s possible that the very thing that’s supposed to give you protection is the very thing that’s causing you harm, in this case, financially.

Insurance fraud dates back to numerous years ago and has fooled countless victims. Insurance fraud comes in two main categories: seller fraud and buyer fraud. Seller fraud occurs when the seller of a policy hijacks the usual process, in a way that maximizes his or her profit. Buyer fraud occurs when the buyer bends the process to obtain more coverage, or claim more cash, than he or she is rightly entitled to.
For more on the different types of Insurance Fraud, visit Investopedia.

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