With hurricane, tornado, and wildfire seasons in full swing in many parts of the country, property damage and loss will be unavoidable in affected areas.
The National Insurance Crime Bureau is warning those living in areas that could suffer from a natural disaster to not only be prepared for the disaster but to be aware of the potential for fraudulent contractors and vendors taking advantage of victims in its aftermath.
Oftentimes, these deceitful actors target neighborhoods affected by disasters and make an unsolicited stop at your home. They will take your money - often overcharging - and do shoddy or no work at all, promising that your insurance company will pay for it all.
Insurance fraud related to natural disasters can add millions of dollars paid out by insurers, which results in higher premiums for policyholders. In some cases, individual homeowners are on the hook for up to tens of thousands of dollars they may not be able to recover.
NICB President & CEO David J. Glawe joins us to discuss how to avoid home repair fraud after a natural disaster.
For more information, visit NICB.org.
