NYC Home Insurance Fraud Lawyers
As with most other types of insurance, there are several types of fraud involving home insurance. It hits home owners in a way that often takes a lot of money and time. This kind of fraud is often easy to get away with, but in the long run, there are severe punishments for those who are charged.
One of the common home insurance frauds is to overstate the value of the items that were in the home when it was robbed or if there was a natural disaster that destroyed everything. Most insurance companies require that you have some kind of proof for the items that were in the home in order for them to be replaced, but for the insurance companies that don’t have this as a requirement, then it’s rather easy to overstate the amount of a television or a furniture set. Many people overstate the value of family heirlooms as they often have more of a sentimental value than anything else. Even though you might think that you’re doing something good for your family, you’re actually committing insurance fraud.
There are times when a storm damages the home. Insurance companies often want a list of the damages so that they can be repaired. Some home owners try to include damages to the home that weren’t a result of the storm so that they can get the home repaired. Unfortunately, there are home owners who will damage the home intentionally and say that it’s a result of a natural disaster or that someone else caused the damage in order to get money.
One thing that people do is to set fire to the home. While this isn’t something that many people would think of doing as it means that your possessions will likely burn, it’s something that people who are desperate for money will do at times. It’s something that is often seen before a foreclosure or another kind of financial setback and a large sum of money is needed right away.
When you complete paperwork for the insurance company, you have to disclose as much truthful information as you can about the home. If you’re dishonest or leave something off about damages to the home, underestimate or overestimate, then you are committing insurance fraud. It’s best to include everything on the paperwork as honestly as possible. If you’re honest, then you’ll likely get some kind of compensation for any damages to the home or if there is anything taken from the home in the event of a robbery or burglary.
There are times when you might have to pay the deductible in order to get damages to the home paid for, and for those who don’t have a lot of money, it can be hard to come up with everything that is needed at one time. Sometimes, repairmen will inflate the cost of the repair so that the home owner doesn’t have to pay for the deductible in the long run. When the payment comes in for the inflated amount, the money spent for the deductible will be given back to the owner, and the repairman will also get paid. This is a common type of fraud that’s conducted, and while it might not be caught by every insurance company, it is a type of fraud that many look for, especially after a natural disaster.
At times, home owners might hire someone to damage their property so that they can get money. Some people might sell or remove insured property or try to get money for items that were never owned. If you have been charged with home insurance fraud, it’s important to seek the help of a lawyer who can help you stay out of jail. You will likely have to pay back money to the insurance company as well as fines, but an attorney can sometimes enter a plea to get probation instead of spending time in jail.