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Over Insurance for Your Car: An Insurance Scam

A talk by Sadie R. Garrett

About the Talk

July 3, 2014 12:00 PM

For years that we have been in the industry, Axis Capital, with our group of insurance and reinsurance companies from our main base in Bermuda to our branches in more than 15 states in the United States, England, Australia and even Singapore in Asia, has heard a lot of different kinds of scams from household to life, to healthcare. The worst and the most number of reports that we have trace to car insurance.

When you with your car insurance agent, it is likely that you have another appointment set: your grocery list, your business meeting, the kids, the yard work. You just signed the papers and listen to less than half of what the agent is saying. When it is time to renew your policy, you review the paperwork and begin to wonder if those high monthly premiums are a result of carrying too much insurance on your vehicle. But how do you know if you're over-insured?

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