Barbecuing a Beamer??

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Posted: Tue Jun 16, 2009 10:56 am Post subject: Barbecuing a Beamer??

Jus came across the term "Barbecuing a Beamer" while going through an auto insurance article. Any instances that clarify what it really means? Thanks.. _________________ Register Now to have your Insurance queries solved.

Crossbreed

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Posted: Tue Jun 16, 2009 11:16 am Post subject:

Hi Crossbreed!

Quote:

Any instances that clarifies what it really means?

Say you own a car and you have used it for a considerable period of time but are still continuing to pay the loan for it. You still have a considerable amount of loan to repay which you think you can't afford anymore. The car in the meantime gets old and you wouldn't mind not having it anymore. But, what would you do about the remaining loan? So, you have a brilliant idea and you torch your car and turn the claim to your auto insurance company. You get back the insurance amount and pay back the loan (after investigation and if you are very lucky not to be caught).

Well, this is a type of auto insurance fraud Crossbreed (which of course you shouldn't even have thoughts about) and I just gave you an instance of how this fraud is conducted. This is only one instance, there are several such instances. Auto insurance frauds are on the rise and you definitely know what will happen to you if you get caught? Let's not elucidate on that.

You must be very careful while driving on the road because con artists are everywhere and have new ideas of fraud every time. If you want to avoid being a victim of fraud be very careful while you drive.
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sil

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Joined: 30 Sep 2005
Posts: 483

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Posted: Tue Jun 16, 2009 11:47 am Post subject:

Well, there is another name to this type of fraud “owner give ups”, i.e. owners deliberately damaging their cars . Sil is right about explaining how it can be conducted. The owner of the car is either burning the vehicle or pushing it over the cliff or drowning it in a pond to collect insurance benefits. The incidents of car insurance frauds are on rise with the economy going south. But let me tell you that committing insurance fraud is a felony and you need to be extremely lucky to get away with one. All the insurance companies have their special investigating unit which is consulted over suspicious claims. If the adjuster suspects a fraudulent claim they would turn it over to the SIU without loss of time. Hope this helps. ~Jeremy