There are countless methods people use to defraud insurance companies. As a result, there are a number of services that now provide insurance investigation in the Bay Area. With trends showing that insurance fraud is only going up, more and more companies are taking action to ensure victims really deserve the compensation they have asked for.
Some Common Types of Insurance Fraud are listed below:
Personal Injury Claims
A common form of insurance fraud is exaggerating the injury that occurred during an accident. These types of exaggerations are made with the goal for the victim to get a higher payout from the insurance company. Because a number of these injuries are difficult to quantify, the companies are utilizing insurance investigation in the Bay Area to determine if the claim being made is valid.
Another type of fraud, which isn’t as common is filing to receive compensation for injuries that occurred before the policy was in effect. One example of this occurs during a vehicle accident. The victim may claim to have suffered a back injury and then when an investigation is done it is discovered that that particular injury actually occurred months (in some cases years) before the accident in question. This type of fraud is also attempted on personal property where a claim for damage may be placed only after a new policy has been purchased even though the damage occurred prior to the policy being in force.
Unnecessary or not-performed surgery claims are another type of insurance claim, frequently targeting Medicare or Medicaid patients due to the sheer number of claims being filed. The perception is that it will be easier to go undetected.
Fraud Involving Property
There are also quite a few types of fraud that involve property. There are some that receive more attention in the media because of the higher amount of money they are worth. One example of this would be a person with valuable assets who destroys or reports stolen the item with the sole intention of collecting the insurance money.
In all these situations of local claims, insurance companies rely on professional insurance investigation in the Bay Area to see whether or not the claims are valid. This is an invaluable service that helps insurance companies save large amounts of money each year. And lower claims losses, means lower premiums for all of us.
Learn more about insurance investigation services by visiting the website.
