There are thousands of people that attempt to commit insurance fraud on a daily basis in the United States. This is a huge problem that has an impact on everybody, not just the insurance companies. Insurance fraud is something that many people don’t even think about. However, there are issues that can affect someone that isn’t committing fraud in many ways. Advanced Private Investigator & Security of Miami, FL is here to talk about how insurance fraud can have a ripple effect on others as well as insurance companies.

Examples of Insurance Fraud

Insurance fraud comes in many shapes and sizes. Following are some of the most common forms of insurance fraud out there:
– Staged Auto Accidents: Believe it or not, there are drivers out there that will go to great lengths to stage an accident with the intent of collecting money from their insurance company.
– Health Insurance Fraud: Both doctors and patients can make false insurance claims in an attempt to commit health insurance fraud. This can be done by faking illness or injury.
– Arson: Some homeowners have attempted to burn down their property or commercial buildings to collect insurance money.
– Auto Shop Scams: Sometimes, prices of repairs are inflated so that both the mechanics and the drivers can take a cut of the money they collect from insurance.
– Faked Death: There are some people that will fake their own death so that they can claim money from their life insurance policy.
– Murder for Insurance: Along those same lines, people have been known to commit murder in an effort to collect life insurance money.
– Workers’ Comp Fraud: Some employees will fake an injury or even exaggerate an injury to collect workers compensation funds for a period of time.

Consequences of Insurance Frauds on Others

You may not realize this, but when there is a big insurance fraud problem, the effects of it can trickle down to everyone. Following are some of the ways:
– Sometimes, people will lose their life savings because of insurance fraud.
– In healthcare, there are people who have put their lives in the hands of a doctor. Those lives can be in danger when there is insurance fraud taking place.
– The premiums on insurance policies are going to skyrocket because the insurance companies will pass their losses along to consumers.
– Businesses lose money annually because they have to pay more for employees healthcare coverage as well as business insurance.
– The cost of goods at businesses will increase because they are passing their losses onto the consumer.

Private Investigator & Security Services in Greater Miami, Sunny Isles, Hialeah, Fort Lauderdale, Pembroke Pines, Hollywood, Miramar, Boca Raton, West Palm Beach & Miami Gardens Florida

Insurance fraud in any form is a felony. Catching those that commit insurance fraud should be a priority for insurance companies as well as business owners. The best way to make major headway on an insurance fraud case is to turn it over to Advanced Private Investigator & Security of Miami, FL to gather the evidence needed to catch and eliminate the problem. Call us today!