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Auto insurance fraud in South Carolina cost $12 million last year alone

Posted On Fri, July 15, 2011

Auto insurance fraud wound up costing policyholders $12 million last year in South Carolina, or what amounts to $1,030 per household, a new study released by the state's attorney general's office indicates.

The annual report detailed all types of insurance fraud with auto, property and health insurance fraud being the most common and most costly. The analysis also detailed in what regions of the state fraudulent activity was most common. At 27 percent, the Midlands region accounted for the most cases.

The report also determined what some of the most common scams were. These included making up or embellishing injuries sustained from a motor vehicle crash, faking traffic accidents and inaccurate statements made in regards to one's medical history.

While the rate of auto insurance fraud may be high in South Carolina, it's not even in the top 10 when compared to states nationwide. Analysis from the National Insurance Crime Bureau says California, Florida, Texas, New York and Michigan had the highest rate of questionable auto insurance claims between 2008 and 2010.

While insurance rates are due to a multitude of factors, one of them may be related to anticipated fraudulent activity, which hurt insurers' costs.

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