Some perpetrators report their vehicles stolen in an attempt to collect insurance money. Others try to dispose of their vehicles because they cannot afford their car payments.

The Schemes

• Owner Give-Ups - Theft claims are filed for vehicles sold without paperwork, abandoned, impounded, or simply hidden until after the claim goes through.
  
  
• 30-Day Special - Often orchestrated by owners whose vehicles need extensive repairs, they will report the vehicle stolen and hide it for 30 days - just long enough for the insurance company to settle the claim. Once the claim is paid, the vehicle is often found abandoned.
  
  
• Export Fraud - A vehicle is purchased or rented, insured and then shipped to an overseas conspirator. Once the conspirator sells the vehicle, the perpetrator reports it stolen. The insurance company covers the loss, while the fraud ring profits from the sale of the vehicle overseas for two or three times its value.
  
  
• Phantom/Paper Vehicles - This scheme occurs when an individual creates a phony title or registration to secure insurance on a non-existing vehicle. The insured will later report the vehicle stolen before filing a fraudulent insurance claim.
  
  

See Also:
Staged Vehicle Collisions
Other Vehicle Claims Fraud
Bodily Injury Insurance Fraud
Collision Repair Fraud