Lowering insurance deductible after damage

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PostPosted: Wed Oct 23, 2013 1:13 pm   Post subject: Lowering insurance deductible after damage  

I have a $1k collision deductible and after driving for long 20 years itÂ’s last week when I experienced a hit and run. The fender has a dent and the door has a scratch.

Since there are no estimates as of now I was wondering if I should login to my Geico account and lower the deductible amount to $250 and once the claim is complete, I log in back and change the deductible status to what it was earlier.

Would it work like this? I never filed any claim in the past so all the process is quite new to me. Thanks.

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PostPosted: Wed Oct 23, 2013 11:16 pm   Post subject:   

What you are doing is called deductible fraud anytime you make changes to your policy and claim damages later your changes are flagged in the system I can assure as a claims adjuster for Geico you claim will get referred to a SIU investigator the Auto damage adjuster will be able to tell damages are old and you will pay the higher ded on top of that with a drastic change in ded we would request a police report so now there is a second charge of filing a false police report depending on your state this may actually fall under your umpd cvg i would not risk the felony charges and if other repaly and say you wont get caught you will and your policy can actually be canceled for misrepresentation

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PostPosted: Thu Oct 24, 2013 12:40 am   Post subject:   

When you report the loss you tell them the date it happened and the deductible on the policy at the time applies. In this case it would be $1000. Usually the insurance company requires that you file a police report in a hit/run accident. They would then also see the date of the accident. If you lie to the police you are guilty of filing a false police report (or some other crime). If you lie to your insurance company about the date of the accident then you are guilty of insurance fraud. If you change your deductible within a few days of a loss then your insurance company is going to go into depth when investigating the loss.

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PostPosted: Thu Oct 24, 2013 7:01 am   Post subject:   

You are simply going to commit insurance fraud. The consequence might be grave if caught...No doubt red flag!!


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PostPosted: Thu Oct 24, 2013 7:07 am   Post subject: Insurance fraud  

Is this the kind of ethics you have?

Is this the example you hope to set for your kids?

What's next then? Go fake a slip and fall.. Cheat on your spouse.. Fake a work injury..

Life will be good and stress-free then..

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