
Securing a quality auto insurance policy is one of the obligations associated with car ownership. Though there are many reputable auto insurance companies, there are also some fraudulent ones. In the age of online advertising, fake car insurance ads are quite common.
Young owners of new cars are a common target. According to a survey from the Insurance Fraud Bureau (IFB), one out of three individuals in the 18-24-year-old age bracket claim they’ve seen a suspicious-looking social media ad for car insurance. Two-thirds of these participants also admitted that they wouldn’t verify if the seller had a website before signing up for the advertised policy.
Here are some common types of scams as well as some tips for recognizing fake car insurance scams so you can steer clear of them.
Fake agents
If you’re browsing online, you might see an ad for super cheap car insurance rates. Clicking on the ad takes you right to the insurance agent’s website, where you’ll receive prompts for applying for the coverage and paying for the insurance.
Robocalls
According to the Pawson Insurance team, U.S. consumers receive approximately 2.4 billion robocalls per month. These calls usually involve a caller who claims that you’ll receive cheap car insurance due to your stellar driving record. The caller will usually ply you for personal information to initiate the new monthly premiums.
Dishonest insurance agents
If a car insurance ad displays rates that are surprisingly low, it’s likely that the ad is a fraudulent one. In other words, if it seems to good to be true, it probably is.
See Full Story at thenewswheel.com
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