Heritage Publishing, Inc. © 2012
INDICATORS OF FRAUD
• Is recovered with seized engine or blown transmission • Was previously involved in a major collision • Is late model with extremely high mileage • Is older model with exceptionally low mileage • Is older or inexpensive model and insured indicates it was equipped with expensive accessories which cannot be substantiated with receipts
• Is recovered stripped, burned or has severe collision damage within a short duration of time after loss allegedly occurred
• Leased vehicle with excessive mileage for which the insured would have been liable under the mileage limitation agreement
Indicators of Fraud Related to Coverage • Loss occurs within one month of issue or expiration of the policy • Loss occurs after cancellation notice was sent to insured • Insurance premium was paid in cash • Coverage obtained via walk-in business to agent • Coverage obtained from an agent not located in close proximity to insured’s residence or work place
• Coverage is for minimum liability with full comprehensive coverage on late model and/or expensive vehicle
• Coverage was recently increased
Indicators of Fraud Related to Reporting • Police report has not been made by insured or has been delayed • No report or claim is made to insurance carrier within one week after the theft • Neighbors, friends, and family are not aware of loss • License plate does not match vehicle and/or is not registered to insured • Title is junk, salvage, out-of-state, photocopied, or duplicated • Title history shows non-existent addresses • Repair bills are consecutively numbered or dates show work accomplished on weekends or holidays
• An individual, rather than a bank or financial institution, is named as the lien holder
Other General Indicators of Vehicle Theft Fraud • Vehicle is towed to isolated yard at owner’s request • Salvage yard or repair garage takes unusual interest in claim • Information concerning prior owner is unavailable • Prior owner cannot be located • Vehicle is recovered totally burned after theft • Fire damage is inconsistent with loss description • VINs were removed prior to fire
2012 Jacksonville Claims Association Resource Guide
115
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