Dollar limit for insurance fraud?

Question

I had a friend who lost her engagement ring set (or it was stolen, she's not sure what happened) and so she took out on insurance policy for it and then reported it like two months later. All she received was a replacement ring but no money, the ring was worth about $2000. My question is if they discover what she did, will they still go after her since it was such a small amount? What is the dollar limit for insurance companies taking the time to investigate fraud?

Answer 1

Yes.

Insurance Fraud is Insurance Fraud. It does not matter if you steal one dollar or 1 million dollars.

If caught, she can and will be prosecuted.

What your friend did - is a crime. A felony. Its the same as if she opened my purse and took money out of my wallet. Because of crooks like your friend, I have to pay higher insurance premiums.

Answer 2

Yes, they will go after her.  I hope.

Answer 3

She's in a no-win situation now. She's committed a crime, and there's not a good way to resolve it. If she goes to them and comes clean, they will be happy she did, but they will also drop her like a bad habit!! This will mean that she won't be able to get insurance with a standard company for a LONG time. They might even report her to the state insurance fraud investiagtion division.

I agree with MSAD, she's the reason our insrance premiums go up EVERY year. I hope she gets caught, and I hope she pays!!

Answer 4

They will go after her with a vengeance, Ins  companies prosecute ins fraud vigorously, and to the fullest extent of the law. They show no mercy, and the amount does not matter.

The reason, if somebody gets away with it, someone else might try to get away with it.. It;s that simple.