Personal Finance
4 Seemingly Harmless Things That Can Flag You for Insurance Fraud
By ValueChampion  •  April 25, 2019

Insurance is supposed to protect you in the event of emergencies, but sometimes people think of it as a way to get "free cash." The most evident example of this in Singapore is car accident insurance fraud, which has doubled in recent years. Besides motor insurance fraud, travel and personal accident insurance have also seen their fare share of fraudulent claims. But how do insurers detect fraud? There are actually a number of factors that insurers mark as red flags when considering claims. While some investigations point to simply criminal actions like staging accidents, other instances are much more nuanced. Below, we discuss four things you may do that seen harmless, but can actually end up being flagged as insurance fraud.

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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?
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