Fraud continues to be a big issue, even in the insurance industry. These scammers are making it their job to take your money, without any help in return.
This means you should double check on your insurance company, to confirm it is legitimate and licensed. Fake ones are trying to trick you into paying higher premiums for everything from auto to renters to long-term care insurance.
They will give you documents that look real and collect your money without the intention to pay claims. The National Association of Insurance Commissioners wants you to look out for these warning signs...
Being pressured by an aggressive broker or agent who may say something along the lines of you needing to sign on immediately.
When a company's premiums are around 20 percent lower than other companies' coverage.
You have no luck finding a listed phone number when you are trying to call the company back.
All three of these are big red flags, indicating possible insurance fraud.
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