Insurance fraud runs to around billions per year says ABI
It has been revealed that insurance fraud is on the increase and is costing up to £1.9bn per year says the ABI.
It seems motorists are now lying much more in the event of obtaining cheaper car insurance online. Bogus claims are a big issue for most insurance companies and this cost in the region of £5.2 million per day.
The good news is that £730 million of claims were rejected because of they were deemed suspect.
Insurance cheats should watch out as there will be closer inspection of insurance applications from now on! It’s really fare that honest motorists or homeowners should have to foot the bill for these insurance fraudsters.