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Can someone forge or fake an insurance claim for theft?

Can someone forge or fake an insurance claim for theft

Image Credit: Monika Wisniewska/Shutterstock

Whether the unthinkable has happened or you’re just trying to be prepared in case it does, you may have been wondering in all your research what’s to keep someone from making a false theft insurance claim.

It may seem like it would be easy to fake a claim, but anyone who tries is taking on more than they bargained for if they get caught. Here are the basics you need to know about insurance fraud, and how to protect yourself while still receiving the maximum that you are owed.

Two Types of Insurance Fraud

There are two basic types of insurance fraud, hard fraud and soft fraud. Hard fraud is the kind where the entire claim is faked from beginning to end. This could be a health insurance claim, such as workers comp, where the accident or the injury is made up. Or it could be a case where someone faked a break-in and lied about a theft in order to claim the insurance money on the items.

Soft fraud, on the other hand, is where someone takes an existing claim and exaggerates it in order to get a bigger settlement. For instance, someone who was in an accident might exaggerate an injury, or a victim of theft might report more as stolen than was actually taken. While the bulk of the claim is legitimate, exaggerating the extent of it is still falsification and, therefore, still illegal.

Where to Draw the Line

Most people don’t set out to defraud insurance companies. Although that kind of fraud does still happen, most insurance fraud is just normal, everyday people, worrying that the insurance company won’t give them enough money to cover their losses unless they fudge the numbers a little.

Your best way to protect yourself is to get an experienced professional involved. Hiring a public adjuster will allow them to manage the claim and negotiate with the insurance company on your behalf. Since a public claims adjuster knows their way around an insurance policy and a claim, they can use their expertise to ensure you get all of the money you are owed on your claim.

How to Maximize Your Theft Insurance Claim… Honestly

Are you worried about making sure you get a large enough settlement to cover your losses but want to protect yourself from any claims of insurance fraud? The best way to protect yourself and your investments at the same time is to hire Rapid Public Adjusters to manage your claim for you. Having a public insurance adjuster on your side means we’ll make sure you get everything you’re owed, and we’ll do it right so that you’re protected.