Ever heard of a family or friend victimized by insurance fraud? How susceptible is income protection insurance for truck drivers to fraud? Insurance fraud is one of the most controversial matters frequently discussed in various regions across Australia as well as in the globe. It so happens that some people will dare to get their hands dirty all for money’s sake. In April 2017, for instance, a car insurance fraud ring facilitated a $3.5M CTP insurance claim by staging car crashes as well as feigning injuries. Today, the Insurance Fraud Bureau of Australia (IFBA) is continually on the hunt for fraudsters.
The problem with fraud, however, is that it comes in many shapes and sizes. There are fraudulent activities that’s done on purpose such as doing a “swoop” or a “sudden stop” to stage a collision, suspicious slip and fall, disability claims even when able, and so on. There are also those which seems like “small lies” which get blown out of proportion leading to being a party to an insurance fraud litigation. The worst fraud, however, is that being done by another on a truckies behalf robbing the latter of his or her insurance money just when it’s needed most.
To help counter fraudulent activities, it is essential that truckies learn to protect themselves with the right knowledge. To get you started, here are some ways on how not to flush income protection for truck drivers down the drain of fraudsters:
Always take time to read the fine print on your insurance policy vis-a-vis what had been agreed upon. Some insurance agents tend to promise the whole universe when all they can give you is the moon or a few stars. Keep in mind that income protection insurance for truck drivers are accurately assessed and reviewed by competent professionals to ensure optimizing protection.
Learn the common and leading causes of insurance fraud. According to studies, some truckies are keen on staging crashes and other types of incidents. There are even some who have to feign injury or disability to access their income protection insurance claim. Keep in mind that with the advent of technology, fraudulent activities can be easily recorded.
Never go around signing blank accident benefit forms when figuring in an accident. Some medical clinics tend to “fatten” services rendered. When this gets figured out by insurers, the victim usually has to accept the blame as it is his or her signature written on paper.
Never go around causing collisions or any other mishaps on or off the road intentionally. Again, technology can be quite tricky that it allows ease of access and more efficient verification systems in place. Feigning an injury from self-made collisions is another form of insurance fraud. Always tell the truth and also, don’t leave information out no matter how travel.
Get sound advice from professionals. Income protection insurance for truck drivers require strong financial management outlook. Consulting a trusted financial professional to do regular assessment on insurance policies or in implementing fraud control will help keep truckies off the insurance fraudster list, but rather anchor them on reliable assistance in times of need.
Whether its income protection insurance for truck drivers or any other insurance policy, it is important to recognize any fraudulent activities to keep themselves protected from predators lurking, waiting for its next prey. Keep in mind that insurance fraud can land anyone in jail. So, don’t ruin your future and that of your family. Make it a habit to double check with a reliable financial planner to ensure that your insurance continue to work in good standing.
Photo Credits: Dan Sullivan Insurance
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