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I nsurance fraud schemes impact everyone, and that includes veterans and retirees. According to the Federal Trade Commission, military veterans and retirees reported $66 million in fraud losses in 2020. As the second-most costly white-collar crime in America, these schemes add up to billions of dollars in fraudulent insurance claims every year. Even if you haven’t been impacted by a fraud scheme directly, you are still a victim. Not only does fraud cause higher insurance premiums, but it also raises taxes and inflates prices for consumer goods. The National Insurance Crime Bureau urges veterans and retirees to protect themselves against fraud by knowing the signs of the following common schemes: Staged auto accidents : Sometimes, auto accidents aren’t accidents at all. They are staged crashes designed to make it look like you are at fault when you’re actually the victim. To avoid becoming a victim of a staged accident, immediately call the police to the scene, document damage on your phone, avoid people who suddenly appear to direct you to doctors or attorneys, and steer clear of tow trucks you did not call for service.
Common fraud schemes impacting and veterans retirees
bring vehicles to dishonest repair facilities. Once a vehicle is at a facility, it can easily be held hostage with demands for an insurance company payment.
Auto glass fraud : Be extremely cautious if someone solicits you offering to repair your windshield or other glass in your vehicle. A random “inspection” visit from a glass repair “technician” could be the first step in a fraud scam. Use reputable collision repair shops, like those offered through the Germania Premiere Service network.
Roofing fraud : Insurers pay out roughly a billion dollars a year to cover claims, but sometimes those payments end up in the hands of crooked contractors. To avoid falling victim to roofing fraud, work with only known licensed contractors, get more than one estimate, ask for references, and get a contract in writing. Towing scams : Be cautious if a tow truck driver you did not call arrives at the scene of an accident and tries to persuade you to allow your vehicle to be transported to a repair facility. These tow truck drivers often charge exorbitant fees and
Suspicious of insurance fraud? You can report it anonymously by calling toll-free 800-835-6422 or submitting a form online at www.nicb.org/how-we-help/report-fraud.
4 | Germania Today
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