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Anatomy of an Auto Insurance Fraud Scheme

    3 minute read

    You hear about the scourge of “insurance fraud” from reading the newspapers and websites like this one. The Coalition Against Insurance Fraud estimates that a mind-boggling $80 billion in fraudulent insurance claims are filed in the U.S. each year. Much of these costs are passed on to consumers in the form of higher insurance premiums. For instance, the National Insurance Crime Bureau says that about $200 to $300 of your auto insurance premiums are a direct result of fraud and its related costs.

    But even though you’re aware of auto insurance fraud, you may not have a clear picture of what the term means. Chances are, you  may not have much of an idea about how this type of fraud is executed and how insurance companies lose money as a result. With that in mind, here is a close-up look at the anatomy of one auto insurance scam that was recently discovered in New Jersey.

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    Trade Group: Ohio Auto, Homeowners Insurance Affordable

      3 minute read

      Ohio is a fantastic place to live for any number of reasons. Residents love everything from the charm of Ashtabula County’s covered bridges, to the beauty of the Appalachian forests and Cuyahoga Valley National Park, to the vibrancy of the Cincinnati museums and Cleveland theatre scenes. It’s possible to live either in the quiet countryside or inside a bustling, exciting city – without the high costs often found on the East Coast.

      Living in and getting around the Buckeye State is also more cost-effective than many other places. That’s because Ohio is one of the most affordable states in the nation when it comes to both homeowners insurance and auto insurance.


      Homeowners Insurance


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      Will Ride-Sharing Companies Drive up Auto Insurance Rates for Everybody?

        3 minute read

        Transportation network companies, also known as TNCs or ride-sharing companies, are popping up in more cities across the U.S. With names like Uber, Lyft, and Sidecar, these entities allow a person to set up and pay for a ride using a smartphone app or computer. But TNCs don’t maintain their own fleets of cars; instead, they allow regular drivers to “rent” out their personal vehicles to those who want to earn more as ride-sharing drivers.

        It’s this latter aspect which is drawing the ire of some people in the insurance business. They claim that ride-sharing services are effectively driving up the rates of personal auto insurance policies for all other drivers in the areas in which they operate.


        Auto Insurance Rates


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