Auto Insurance Fraud: What It Costs You

Auto insurance fraud adds $200-$300 a year to your individual insurance premium, according to estimates from the National Insurance Crime Bureau (NICB). But that's a paltry sum compared to its overall impact, because every business has to pay for insurance as well.

When fraud boosts their insurance rates, businesses have to charge you more for goods and services, according to the NICB. That means that not only consumer goods and insurance premiums, but taxes and anything else with a dollar sign in front of it are affected by insurance fraud.

Forms of Fraud

Auto insurance fraud is generally classified as "hard" ... Back to article