Did you know that each year, funny insurance claims add up to an estimated $40 billion dollars? This money does not come out of the pockets of insurance company employees. Instead, it costs the average American family somewhere from $400 to $700 every year in increased premiums. There are many types of insurance fraud, and if you have been thinking about trying to pull it off, beware. We cannot stop you from trying, but we can give you a four point list of what will likely happen.
1. Extensive Fraud Bureaus
Fraud bureaus are state agencies that investigate potentially false insurance claims. In 2010, for example, more than 45,000 cases were open for investigation, and almost 5,000 arrests occurred. There are about 1,400 people who are employed to investigate and handle potential cases of fraud.