Auto insurance fraud has now become a major concern for the insurance companies. This type of fraud is a serious crime and the offender, once caught, may have to spend years in jail. Auto Insurance fraud involves deceiving the insurance companies to cough up money as damages against an accident or car jacking when in fact the fraudulent party staged the accident. [more]However, auto insurance fraud not only costs billions of dollars/year to the auto insurance companies alone. The insurance companies charge high premium rates to the customers to mitigate the loss.
Auto insurance fraud is classified into two categories Hard and Soft Fraud. A hard fraud is the law enforcement term of illegally obtaining money from the insurance company by faking car accident, injury or theft; whereas a soft fraud is the deliberate suppression of minor information to gain money.
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One of the best methods to lose money is by getting cheap insurance from a company that can’t come for you when you need them the most and cannot help you. Choosing your insurance provider is very crucial decision and you cannot afford to take any chances. Consider the financial strength of insurance companies before signing a contract with them.
In my case, my insurance was up for renewal and a good friend of mine (who drives a wicked silver Mercedes SLK) recommended an auto insurance company to me that specialise in sportscar and luxuray car insurance. The 21st Century Insurance Company
has a 98% customer service satisfaction rate, highest compared to any other insurers in the United States. Their customer service is highly regarded as one of the best in the industry and is open 24 hours a day and 7 days a week ready to help you whenever you need.
21st Century Insurance Company is known for the best possible insurance quotes too. Their new customers report average savings of $300 on car insurance!
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