Everyone Pays the Price
Insurance fraud costs insurance companies billions of dollars every year — a burden that gets passed directly to honest policyholders like you through increased premiums. So, if you pay insurance premiums, in that sense you’re already a victim of insurance fraud.
Some may see their insurance costs rise by as much as $900 annually. Those who play by the rules end up paying the price for those who don’t. And some criminal fraud schemes — such as those involving arson or a staged auto accident — can put innocent lives in harm’s way.
Insurance Fraud Is a Serious Crime
In Pennsylvania, insurance fraud is a felony, punishable by up to seven years in prison and up to $15,000 in fines. There are also restitution, court costs, and lawyer’s fees to pay. Plus, those who are convicted get a felony charge on their record that follows them for life, and that can stand in the way of securing employment or housing.
Reputations Are on the Line
The crime also brings with it consequences on the home front. Someone with a felony conviction often risks damaging his or her relationship with friends and family, and may be viewed as an undesirable employee — or ex-employee, in some cases.
Anyone thinking about committing insurance fraud should think about these life-changing consequences. Why risk wrecking your life through an act of dishonesty — and hurting your neighbors in the process? It’s just not worth it.