Types of Insurance Tricks To Watch For - Not What You Think

Now more than ever, insurance scams are becoming a much stronger and more prevalent way for criminals to obtain money fast. With the recent economic crisis and things not looking a whole lot better as time goes on, many Floridians are seeking out ways to obtain the funds they need for every day expenses and quite a number of criminals are taking advantage of this and cashing in. Small business owners, and the individuals with no or limited coverage in Florida are being targeted more strongly than others in these schemes, due mostly to the fact that they are only regulated on a state level. State level regulations offer less protection than the federal level large group insurance market.

In both groups, either due to small businesses simply being unable to afford a great level of coverage, or preexisting conditions in people causing them to be either declined insurance or unable to afford the premiums- you have very vulnerable situations that fraudsters are quick to exploit. Though there have been many crackdowns, these schemes are often all to easy to implement and difficult to track- often, once those doing the victimizing are rather experienced and know when to back away and disappear.

Most appear very much on the level, some to the degree of honoring a few claims, having very legitimate looking websites or offices, offering enticing low rates that hook the vulnerable and once the money is gone, so are they.
How do you know what is a scam and what isn't? Take a look at some of the more well known scams out there.

One of the most common and seemingly risk free scams running is the offer of a discount card that takes care of up to a percentage of your bills. However, the truth is usually a far lower number, if there is a discount at all. You can protect yourself by checking with the providers listed before you purchase the cards.
Another commonly seen one targets Florida church congregations. Faith Based Plans usually require abstaining from commonly referred to morality based issues, drinking, smoking or sex out of wedlock. However, these very rarely actually pay for the bills they claim to, and it is very difficult to get your money back as they aren't regulated. You can prevent being targeted by this scam by checking to see if there are other complaints against the company.

Dreaded disease policies have also been around for quite sometime, preying on consumer's fears of more serious illnesses or injuries. These are generally written in such a way it makes it easy for the company to back out of payments, while at the same time raising premiums- and once the bills come in, the company is long gone. Again, making sure that the agent who sells you the policy is licensed can save you trouble.

More scams pop up every day, so be careful and do your homework when looking for policies, and being somewhat skeptical may prevent you being taken for a ride.

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