Motor Insurance Fraud — Don't Fall Victim!

A recent article in the Insurance Times shed new light on fraudulent activity in the motor trade industry. Statistically, motor insurance fraud is most commonly committed by males aged 20 to 40 and, worryingly,13% of fraudulent claimants will have committed insurance fraud before, (according to the Hill Dickenson Claims and Fraud Index Regulators).


Falling victim to motor insurance fraud can potentially be more costly and detrimental to your business than a road traffic accident or a break-in at the garage. That is why temptingly-cheap policies, or "one time" offers without much information should be treated with caution, as you could be lured into a false sense of security and end up falling victim to a dodgy insurance scam.


Here at Powells we are a member of the British Insurance Brokers Association and are regulated by the Financial Conduct Authority, so when you work with us you have the immediate peace of mind of knowing that you are working with a reputable brokers who are experienced in the industry. We can amend policies to make sure that they provide "Wrongful Conversion" cover, meaning that you are protected should the worst happen. Protect yourself and your livelihood-don't fall victim to motor insurance fraud.