While it may not be something you think about, insurance fraud has the ability to impact everyone. At Roadway Insurance, a MAIF insurance firm, we keep up to date with the latest prevention initiative. Below is information on MAIF’s new initiative to crack down on automotive insurance fraud.
The New Initiative
Though Maryland Auto’s Special Investigations Unit is always hard at work to combat insurance fraud, a more concentrated initiative is being rolled out. We want to make sure that the most common forms of fraud are being identified so that they can be put to a stop. Once we know certain methods and how they work, they can be stopped earlier.
This also involves education. Insurance adjusters and processors are on the front lines of dealing with insurance fraud. Educating them in methods can help to prevent fraud from going further. But customers need to be educated as well. Insurance fraud can be something that happens accidentally. If customers don’t know the details of fraud, they don’t know how to ensure they aren’t doing it.
Currently, there’s a prominent problem with people purchasing insurance plans that aren’t from Maryland. Consumers may not realize that something like this impacts them too. These fraudsters impact the insurance rates of everyone. It’s important that the benefits and payouts are going to the people that actually need it.
How Fraud Impacts You
Many consumers don’t realize how much insurance fraud can impact them. Insurance companies rely on customers paying premiums and that’s how they have the money for insurance payouts when something happens. If there’s a particular year where they’ve had a large number of payouts, the premiums may go up.
One of the biggest insurance fraud schemes is getting insurance payouts for things that haven’t actually happened. If multiple people are doing this, the money adds up really quickly. That means that insurance rates are going to go up across the board, even for people that don’t have issues and have never been in an accident.
Getting MAIF Insurance
We’re here to make sure Maryland drivers are getting the coverage that they need for a good price. We have multiple policy offerings and payment plans to make sure you’re not overpaying for your coverage. Call us or get a free quote online.