Preventing and awareness of insurance fraud

The natural human being has a tendency to try to take advantage of opportunities to get ahead financially. Sometimes this means that when presented with the option of taking advantage of an insurance company by increasing the amount received in a claim settlement

Insurance fraud has many forms:

* Paying too low a premium than what is fair by lying or cheating when obtaining or while owning a policy.

* Purposely causing a claim payout to be larger than it needs to be.

All of these are forms of dishonesty and theft, and have some strong consequences. You and I bear the burden of paying much higher insurance premiums because the high cost of insurance fraud is spread by insurers with all policyholders.