Give Up Car Scam
Insurance fraud is committed when an owner takes his car and just give up his car as if it was stolen then report the car as stolen.
This is not a new scam but a scam that has been going on from the beginning.
As the economy gets worse and more people lose jobs they need money and will resort to criminal activities like give up your car scam to make some easy money.
According to the National Insurance Crime Bureau the first quarter of 2009, owner give ups nationwide increased 24% over the first quarter of 2008.
The Insurance Information Institute reports that property and casualty fraud cost insurance companies $30 billion a year.
The problem is when insurance company pay these give up car scam claims the pass this cost to the honest drivers who will then pay higher premiums.
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