Number of people lying on insurance claims on the rise
Every year in the United States, many people fill out insurance claim forms for all sorts of things from vehicle accident insurance claims to home insurance claims and more. However, a recent report has shown that many of those completing claims forms for their insurance companies do not always tell the truth and this could end up putting both their claim and their insurance policy at risk. In some cases, the errors and inaccurate information may have been a bona fide mistake but this will not stop the repercussions that can occur if insurance claims handlers discover that the information on the form is not accurate.
A survey that was recently carried out amongst three thousand consumers showed that just over 50 percent of those completing an auto insurance claim did not tell the truth on their claims forms. The study, which was carried out by CoverHound, also found that both men and women were equally as likely to provide incorrect data on their claim forms and that younger people were more likely to lie on their claim applications than their older counterparts.
A range of inaccuracies on claim forms
Officials in the field have said that there is a wide variety of inaccuracies that have been found on insurance claims forms. Some of the information given is an out and out lie, where claimants have completely fabricated information in a bid to either boost the likelihood of getting a payout or to increase the amount that they are paid. In other cases, the mistakes and errors are down to the claimant using guesswork to complete the claim form because they do not know the answers to the questions being asked.
However, when it comes to the assessment of insurance claims officials do not take into consideration whether the information was down to guesswork or a lie. Either way, incorrect information could result in a reduced payout, no payout at all, and even the voiding of your insurance policy altogether, which means that any premiums already paid will have gone to waste and getting another insurance plan will be made all the more difficult.
One expert said that it doesn’t take long for claims handlers to get to the bottom of lies or inaccurate information, and that this often happens quite early on in the assessment process. With access to a range of information, resources and tools, claims handlers these days do not have to dig all that deep in order to determine whether a claim is accurate and correct or whether it contains errors or false information.