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Know the insurance company that you are dealing with. Many insurance buyers are easily attracted to insurance packages that are affordable and offer more benefits. Sadly, some of the insurance packages that may be offered to you are too good to be true. It is therefore to your best interest if you get to know the insurance company that you are dealing with. Make sure that you are dealing with a legitimate and licensed insurance company by checking whether the company you are dealing with is accredited by the state department of insurance. If the company is not licensed with the state department of insurance, you are likely dealing with scammers.
Always demand for documents and receipts. Documents can tell a great deal about the insurance company and the agent that you are dealing with. Make sure that you deal with agents or insurance companies that are licensed to operate by checking about their accreditation documents and verifying those to the state department of insurance. In cases where you have to make payments, you have to demand for receipts although this cannot fully protect you from fake paper works that scammer can produce. Nevertheless, you will find it noteworthy to avoid agents of so called insurance companies who cannot provide you with the exact address and contact number of the insurance firm.
Avoid paying in cash. If you have decided that you want to avail of the insurance package that has been offered to you, it will be to your advantage if you avoid paying in cash especially if you have to pay to your agent. It is always best if you pay through check and the amount is payable not to your agent but to your insurance company. This practice helps you avoid instances where agents take advantage of the money that has been paid to them by the policy holder.
You can protect yourself from insurance fraud by observing simple practices. Among these practices are knowing the insurance company that you are dealing with; always demanding for documents and receipts; and avoiding to pay in cash most especially if you hand your payment over to your insurance agent or broker.
Category: Insurance3 Ways to Protect Yourself from Insurance Frauds was written by:Author:Jeff DoddAdded: Tue, 08 May 2007 17:07:17 -0400 This Article Has Been Read 328 times View all Jeff Dodd's articlesAbout the Author: Jeff Dodd has been writing about Business Cards for a long time. For his other insights, please come by http://www.total-business-cards.com. |
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