Insurance fraud hurts everyone, from policyholders to honest insurance agents. An insurance agency here in Central Florida is currently under investigation for homeowners insurance fraud. Allegations state that premium was collected for bogus insurance policies. If true, these homes are not insured, and may not have been insured for quite some time. This has drastic consequences, even if there are no claims. These customers must now seek insurance in a market that is not favorable for policyholders with no prior coverage. Their mortgage companies may attempt to retroactively force-place coverage on their homes for the period of lapse. This is a scary situation, but it can be avoided with a few tips for the savvy insurance consumer:
1) Ask for a copy of your policy Declarations Page issued by your insurance company, showing the policy period and policy number. Do not accept a binder or Evidence of Insurance typed up by the agency.
2) Call your insurance company (not the agency) to verify coverage. Some agencies establish phony telephone numbers for their insurance companies to field such calls, so google your insurance company and use that phone number instead of the one provided by the agent.
3) If you discover fraudulent activity on the part of your agent, report it immediately to the FL Department of Financial Services, Division of Insurance Fraud, at 850.413.3115.
If you are a consumer affected by this recent homeowners insurance scam, we have replacement coverage for you! Please give us a call at 321.259.2228 and we will get a legitimate policy started as soon as possible for you.
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