International Fraud Awareness Week – Tips to Avoid Insurance Scams

Insurance scams are becoming more and more frequent. In recent years the methods that scammers use has evolved to be more advanced and sophisticated leading to many falling victim to fraud.

The following are some tips to stay vigilant and some steps to take to avoid scams:

 

Be cautious 

Have you received an insurance offer that seems far too good to be true? It probably is. Always make sure you are going to a reputable and credible company before entering or giving away your information.

 

Verify the company identity

If you receive an unexpected call that you don’t trust from someone claiming to be your insurance company, it’s okay to end the call to verify the company’s details before giving any information – you can always call them back.

To ensure the number is who they say they are, verify the phone number by checking your insurance documents or looking on the company website to see if the number matches. If the number does not match, you should call your insurance company via the number on a verified source (website, documentation, etc) to see if they have tried contacting you.

 

Beware of the high-pressure sales tactic 

A common tactic used by scammers is the high-pressure sale tactic. If you’re feeling rushed into making a decision and don’t have all the information you need present, ask questions or ask for the quote to be emailed to you to review.  Ensure you’re taking your time and have enough information to make an informed decision.

 

Be careful what you share online

Some scammers will attempt to use personal details they found online to scam you, so be attentive to what information you make public online and your privacy settings on social media.

 

Report any fraud you suspect you may be a victim of 

The sooner you report any fraud that you suspect the better! If you feel you are a victim of a scam or fraud, you should contact the authorities or Action Fraud immediately. The faster you report the fraud and scams, the higher the chances of catching the scammer and recovering any stolen money.