If you suspect insurance fraud, you can help stop it. Insurance fraud is not a victimless crime. The average family pays up to an extra $700 a year in premiums to cover the costs of fraud. In South Carolina, insurance fraud is a felony so do your part to learn what it is and how to spot it!
What Is Insurance Fraud?
Insurance fraud occurs when an insurance company, agent, adjuster, or consumer commits a deliberate deception to obtain an illegitimate gain. It can occur during the process of buying, using, selling, or underwriting insurance. Insurance fraud may fall into different categories from individuals committing fraud against consumers, to individuals committing fraud against insurance companies. Both have serious repercussions and consequences.