Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

The Basic Steps to Avoid Insurance Fraud

By Mark Bennett Subscribe to RSS | March 22nd 2012 | Views:
loading
 
  



Insurance fraud is quite becoming common nowadays. It is not that all insurance companies follow this kind of fraudulent crime, but there are some who do so. You can almost say that it has become a part of the insurance industry and is an unavoidable thing. As a conscious insured individual there are various steps that you can take to avoid getting trapped by fraud insurance companies. Let us check some of them

Purchase Insurance Policy

The first thing that you always need to do is never purchase the first insurance policy that you see. Never buy an insurance policy instantly. Always conduct some extensive research and compare the various insurance policies that are available in the market. Just like how you would compare the different commodities available in the market while buying food, electronic items, etc. Also take time to review the rates, features, and types of insurance of various companies.

Review the Insurance Company

Always make sure you know a lot about insurance companies before you select an insurance policy. You have to review the background and reputation of the insurance company or the agent. Try to find out how long the company has been in business, who are the potential customer, check the reviews of the customers who took the insurance policy from them, etc. Besides that you need to verify the license of the insurance company or its agent.

Authorized Insurance Agents

It is very important to purchase insurance policies from authorized insurance agents and companies. Unauthorized insurance companies are illegal and a great threat as they will leave the policyholder without any insurance coverage. So in short, it means that you will be completely unprotected when you submit an insurance claim.

Method of Payment

Be very particular about the way you may payment for your premium. Try to avoid paying by cash. You could choose money order or check to pay for your insurance premium so that there is a valid record. Also always make sure to get the receipt that proves that you have made the payment. It would be good if you pay the premium directly to the insurance company rather than through an agent.

Insurance Application

Try to keep this important point in your mind i.e. read the offer document very carefully. Take your own time and check the entire clauses and rules that are there in the insurance application. Pay attention to the minute details, as even one small error can cause a huge problem later on. Besides that, make sure not to sign any blank application form or blank forms.

Be Honest

This is a thing that you need to watch out for. Be honest while answering or filling the application form. If you in case submit false information, it can lead to serious consequences. Your insurance policy will be revoked, leaving you with no insurance policy and protection. To make matters worse, you could be heavily fined and even prosecuted for giving false information. Make sure to never allow an insurance agent or agency to convince you to file false data.

Copy of Insurance Policy

The important thing that you need to do is try to request a copy of the entire insurance policy from the insurance agent or company. It is important that you do so within the reasonable time period. If you don't receive a copy of the policy first contact your insurance agent and then the Department of Insurance in your jurisdiction. Also make sure to retain all the copies of the insurance document and the premium payment for the future reference.

In short, insurance fraud is becoming a common crime that some of the insurance agents and companies are following. Whenever you log on to your cable TV or fast speed internet connection that most of the service providers like ATT Uverse are providing; you are bound to see many cases regarding insurance fraud. So whenever you opt for any insurance premium, refer the above given points to choose the best and the safest insurance policy.

Mark Bennett - About Author:
Being a freelance writer and active blogger, Mark likes to share his thoughts with the rest of the world and to sources out some great services that of ATT Uverse. According to him insurance fraud is becoming common nowadays and people need to be more aware of such it.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/insurance-articles/the-basic-steps-to-avoid-insurance-fraud.htm

Related Insurance Articles Subscribe to RSS

Know more about cheap car insurance
Published by Anneshirley on April 12th 2012 | Insurance
It is not a tough thing to find car insurance, but yes it is very hard to find the classic car insur...
 
Get relief from day to day mishaps and provide insurance coverage for your van today
Published by Gregorypeck on February 25th 2012 | Insurance
For most manufacturing or service providing companies, it is the first priority to have a good runni...
 
Health insurance benefits and coverage
Published by Chris Luke on April 24th 2012 | Insurance
It is definite that health insurance has become an essential component of one’s life and buying a ...
 
Are you looking for the best South African insurance?
Published by Dkfinancialplanning on February 10th 2012 | Insurance
South Africa is a very dangerous place full of crazy people and animals. In the South African area y...
 
Best Affordable medical insurance
Published by Lessardcasey on February 11th 2012 | Insurance
Shopping for affordable medical insurance is usually not something the average person has to do, giv...
 
Set your fundamentals correctly while looking for commercial insurance quotes
Published by Andrew Edwards on April 6th 2012 | Insurance
Run your business with lots of beneficial methods, don’t do anything wrong that can cause you big ...
 
Commercial general liability insurance to cover major issues
Published by Andrew Edwards on February 20th 2012 | Insurance
What kind of business developed by you, it is a major question which signifies type of coverage need...
 
Include product liability insurance in investment plans
Published by Andrew Edwards on December 13th 2011 | Insurance
Product liability arrives at head when consumer or workers take off injury with the product...
 
Finding cheap car insurance with best coverage
Published by Robmichae on March 16th 2012 | Insurance
Everybody is seeking ways to reduce their monthly expenses in today’s economy. As a matter of fact...
 
Importance of insurance coverage while comparing car insurance
Published by Geenadavis on April 21st 2012 | Insurance
You might be paying huge amount of money for your car insurance and now you have realized the truth ...
 
All about child insurance in India
Published by Puneet on February 6th 2012 | Insurance
A child plan is all about working out strategies that will ensure your children have a secure future...
 
Insurance broker helps acquiring commercial insurance quotes
Published by Andrew Edwards on February 4th 2012 | Insurance
If you don’t have sufficient time to search for commercial insurance online then insurance broker...
 
General and special coverage with commercial insurance
Published by Andrew Edwards on March 2nd 2012 | Insurance
Safe business is prime requirement for us; it gives us plenty of advantages which can be utilized...
 
Tips to choosing the Apt travel insurance policy online
Published by Sandy Tata on April 20th 2012 | Insurance
Travel insurance has become the need of the hour for travelers. The needs of every person setting ou...
 
Securing your vehicle with Arkansas auto insurance
Published by Auto Insurances on January 14th 2012 | Finance
Who doesn’t want his or her vehicle to be secured from every kind of accident or incident? Of cour...
 
My cheap car insurance can save you more money
Published by Harrisonford on March 29th 2012 | Insurance
These days, people are looking for ways to save some amount wherever possible....
 
Effects of higher business insurance rates on financial system
Published by Andrew Edwards on February 2nd 2012 | Insurance
We all necessarily buy business insurance plan for the company...
 
Compare Cheap and Affordable nevada long term care insurance Quotes Online
Published by Kym Dicken on November 30th 2011 | Insurance
Long-term care insurance has become very popular in the United States and many other countries with ...
 
Steps to make good car insurance comparison
Published by Geenadavis on April 20th 2012 | Insurance
You have always heard how much important car insurance comparison is, but you are not familiar with ...
 
How do they figure out my cheap car insurance rates
Published by Harrisonford on March 29th 2012 | Insurance
An individual must be thinking before purchasing car insurance that how insurance companies calculat...