The credit crunch is a terrible time for anyone; a lot of people no longer feel secure in their homes, cars or jobs because it could all come crashing down in an instant. But things will get better and as time goes by we will see a much better economy un fold between our eyes.
But what a lot of people are doing is that they are panicking so much that they begin to look at ways of making quick money and doing things that are highly illegal. Recent research has shown us that the recession has caused an overwhelming rise in insurance fraud. Fraudulent claims are costing companies and economies millions of pounds, so what people are in fact doing is making things a whole lot worse. People believe that they can make a false claim and get reimbursed for it, but besides from being illegal the next time dishonest people go to do this you should think about the downsides, which are:
1) People make fraudulent claims because they believe they are going to get something for nothing, this is not the case, fraudulent household claims alone cost the industry over five hundred million pounds, and once you have milked these companies who do you think is going to bail them out? The government of course, with the tax payers and your money, so in the long run it is causing you a lot more hassle.
2) Again besides from being illegal there is the matter of actually living with the guilt when you have done it. Can you really sit there and watch your favourite TV program or drive a car that has been fraudulently claimed for?
3) Why lower your self just to get nice stuff? Has the world become that materialistic? The way you should live is if you can't afford something then don't buy it until you can.
Fraud is costing tax payers a huge amount of money and whoever is looking at committing these terrible acts should really think again. Especially now as fraud thieves are at their highest because of the credit crunch. So this mean insurers are cracking down on it a lot more as well. According to the ABI's figures, the UK insurance industry pays out 59 million pounds a day in general insurance claims. This is a huge amount of money which can instead be used to be pumped back into an economy that is on its knees.
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