Believe you are insured? Think again!
Said to be rife on social media, ‘ghost broking’ is the selling of fake insurance policies.
Brokers are regulated financial advisers, intermediaries who specialise in providing general insurance.
A ‘ghost’ broker is a criminal purporting to be an actual broker.
The ‘ghost’ may simply forge a policy document, but they may obtain a policy of insurance for a car from an actual insurer using false information, which keeps the premium (cost) down. For example, they will use an address in a rural area, give an age that is well over 21 and disclose no claims or convictions.
In possession of the paperwork, this is then doctored to fit whoever approaches the ‘ghost’
If you have any concerns your policy may not be genuine – contact your insurer immediately!
- The minimum fine for no insurance is £300 and 6 points on your licence. But there is more:
- You will have funded the lifestyle of a criminal to the tune of possibly £2,000
- You provided the crook substantial personal information
- Any claim you make for the vehicle theft, will fail.
- A non-fault collision claim is likely to be viewed with suspicion.
- A fault collision will see the claimant coming to you – without an insurer’s expertise and experience to assist you or their funds to meet the bills.
- Now you need to acquire genuine cover for your vehicle … with a no-insurance conviction, expect the premium to be higher!
Think! If it seems too good to be true … it probably is not true!
Report insurance scams to the IFB Cheatline (powered by CrimeStoppers) on 0800 422 0421 or online. It’s free, anonymous and completely confidential
For more information:
Ghost Brokers – Insurance Fraud Bureau
How to spot ghost broking – This is Money