Cheap Accommodation New York - Travel Insurance Fraud - 10 Things You Should Know

In fact it is a crime, while falsifying or exaggerating a claim may seem like a harmless 'white lie'. But many people simply don't realise that when they exaggerate a travel insurance claim they are actually committing fraud, contemplating committing fraud is a serious matter.

So that trying to make back or justify the money lost on unused insurance over a number of holidays doesn't have to be an issue, there are now many companies offering cheap travel insurance with good quality cover. This could lead to serious repercussions, while it may be tempting to embellish losses.

Here are ten facts everyone should be aware of when claiming insurance.

000 Britons make false claims on their travel insurance by either falsifying losses or exaggerating how much they have lost, 1) The problem of travel insurance fraud is huge in the UK - 750.

Many insurers are now tightening up their fraud detection methods, as a result of this kind of discovery, however. 2) Travel insurance fraud is so common that records from insurers show that Britons lose more Louis Vuitton luggage abroad than is ever actually sold in the UK!

3) Many travellers exaggerate or falsify their claims - as many as five per cent of claimants add extra items to their reported losses as a way of getting a higher insurance payout and 11 per cent confess to increasing the value of their claim.

Which are normally required by insurers as proof of the value of medical costs or lost or stolen goods, 4) Many fraudulent claims involve falsified or doctored receipts.

Because the extra costs incurred in paying out on false claims results in higher premiums on otherwise cheap policies to cover those costs, 5) The problem of travel insurance fraud affects all travel insurance policyholders.

They could also face further financial penalties for their actions, not only will they lose the money they have claimed for. The punishment can be severe, 6) For those that are caught making a false claim.

Compared with just seven per cent of over 50s, with 33 per cent admitting to lying when claiming on their travel insurance, 7) Eighteen to 29 year-olds are by far the worst offenders.

8) Eighteen per cent of those who commit travel insurance fraud justify their behaviour by saying they are owed the money because they have not claimed before.

Because everyone does it, 9) Ten per cent of those who commit insurance fraud take the attitude that it's okay.

10) The majority of claims are genuine.

Which won't leave a nasty aftertaste or the potential desire to make back losses with a false claim, cheap travel insurance, it's always better to invest in good quality, whilst claiming extras on your insurance may be tempting.