FRAUD INSURANCE

Don't be a victim of deceptive practices

fraud insurance coverage against scams“Fraud” refers to activities of willing criminal deception which result in financial or personal gain for the perpetrator.  While the elderly and the newly-legal are the most commonly targeted victims of fraud, companies and individuals alike become victims of scams everyday.  In many cases, there is a specific fraud insurance policy that can help insulate you from unwanted expenses.  However, the differences between fraud insurance policies can be confusing.  For example, fidelity insurance covers financial loss from fraudulent acts or theft committed by an employee, while security insurance protects you if a financial document like your mortgage is forged, altered, or stolen without your knowledge or consent.  While both seem similar on first glance, they are actually meant protect different things.  Because of the vast array of policies available, it is best to ask your A.R. Davis agent what types of fraud protections you may need.

What are some common scams I should watch out for?

Coverage for fraud will differ depending on whether you wish to protect a person or a business.   There are many different forms of fraud, but these are several of the most common:

Phishing Scams: emails or text notifications that may appear to come from a legitimate source, but are actually sent from a fake third party who is posing as a family member, friend, or business in order to access your personal or financial information.  Typically, phishing emails have bad spelling and grammar.  Receiving emails that say your account has been compromised and you need to resend sensitive information is usually a good giveaway.  People also use web addresses that resemble the names of well-known companies but are slightly altered.

 

Deceptive Advertising: This is the use of false or misleading statements in advertising and misrepresentation of the product to get consumers to purchase it.  Dangerous links, phony contests and fake gift cards are just some of the ways scammers try to steal your personal information.

 

Fake Charities: Be wary of fake charities that could reach you through e-mail, websites, and shared through social media. These scams try to take advantage of your generosity.  They involve a scammer collecting money by posing as a genuine charity. Not only do these scams cost you money, they also divert much needed donations away from legitimate charities and causes.

 

Credit Card Theft: theft or fraud committed using or involving a credit card or debit card as a fraudulent source of funds in a transaction.  The purpose may be to obtain goods without paying or to obtain unauthorized funds from an account.

 

App Scams: a scam that copies a popular app as closely as possible in name and appearance in order to confuse consumers and get them to buy a scam app instead of the real thing.  Typically, scammers will copy popular phone games.

Please note that these parameters are only examples of what the typical customer could expect to receive for this type of policy.  Actual coverage will depend on the provider and the person being insured.  Please talk to your A.R. Davis agent to find out what type of coverage you qualify for.

How can I protect myself?

– Check your credit card statements at least once a month

– Do not click links in emails that appear suspicious, like those asking you to provide a social security number

– Google your bank’s name instead of following a link in an email

– Do not provide sensitive information over the phone to an unknown caller

– Talk to your A.R. Davis agent about fraud insurance

Please note that these parameters are only examples of what the typical customer could expect to receive for this type of policy.  Actual coverage will depend on the provider and the person being insured.  Please talk to your A.R. Davis agent to find out what type of coverage you qualify for.

What can I expect to insure with A.R. Davis?

A.R. Davis agents aren’t just here to provide you with insurance policies.  We are advocates for our customers.  If you have a question on legal matters or are worried that you have become a victim of fraud, our offices may be able to help.

fraud insurance helps protect you from financial ruin
avoid scams