In: Root » Legal and finance » Insurance
Buying homeowners insurance is one of the most critical choices you can make to protect the possession of you and your family. Unfortunately, many unscrupulous individuals prey upon this knowledge and use it to run scams that rob people of their money and give them a false sense of coverage that could be devastating in case of a fire or other serious issue.
It's important to understand some of the most common scams that con artists use to rip people off on their home insurance. Here are a few of the more common ones:
Pocketing your premiums: Instead of sending your premium to your insurance company, a crooked agent might just keep the money. Sometimes this can be done to give them a quick influx of cash if they have a gambling or drug problem; other times it can be straight out theft. Either way, the home owner insurance policy is not covered, leaving them open to major problems if a problem happens.
Fake insurance: Scammers can go to elaborate lengths to sell people insurance for the home that is worthless. They might claim to be working with a legitimate insurance provider when they in fact have no connection to them. They can create shell companies with names that are similar to established providers to confuse people. Even official looking policies and proof of insurance can be forged to trick people into thinking they have paid for real insurance - while their policies actually don't exist.
Extra coverage: You might have a "legitimate" insurance policy, but some agents can slip in additional policy terms that you didn't agree to when making the deal. Unless you closely read the terms of your policy, you could end up paying several hundred dollars a month in coverage that you don't need and don't know you have.
These are just some of the reasons why buying home insurance from trusted sources is so important. HomeInsuranceQuotes.us offers free home insurance quotes from leading providers, meaning you can trust that you are getting a safe policy that meets all of your needs. That's why so many people turn to us for their insurance.
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