According to figures published by the Association Of British Insurers (ABI), the number of fraudulent motor insurance claims fell in 2021 when compared with the previous year. Potentially, this could come as good news for honest motor insurance policyholders as this may impact on the amount paid for such cover. However, the most popular type of insurance claim fraud continues to be in respect of motor insurance.
In 2021, the number of motor insurance claim frauds that were discovered amounted to a staggering 49,000. However, this was a fall of 7% when compared with the previous year. The value of those claims amounted to £577 million that was 1% less than in 2020. Of those fraudulent claims, 10,617 related to motor insurance frauds that were organised.
There have been numerous types of motor insurance fraudulent insurance claims some of which you can find on the Association of British Insurers ((ABI) website so why not take a look on their.
The more that can be done to identify such fraudulent claims the better as it could possibly result in premiums coming down as the insurance companies would hopefully be paying out less money.
The total number of insurance related fraudulent claims that were discovered including the likes of motor, property and liability amounted to 89,000 in 2021 with this being a drop of 5% when compared with the previous year. In 2021, property insurance fraudulent claims amounted to 18,000 whereas in the previous year there were 24,000. Liability insurance claims that were found to be fraudulent fell by 10% to 12,978 with a value of £378,000.
Let us hope that the number of fraudulent insurance claims reduces in 2022. Whilst it would be great if this resulted in insurance premiums coming down as a result of this it would be very welcome news if premiums were able to be maintained as the UK is going through a very difficult period financially.
