Car insurance warning: Drivers could lose over £ 2,000 at the hands of ghost brokers

Ghost brokers pose as intermediaries for well-known insurance companies, claiming that they can offer drivers legitimate auto insurance for a significantly cheaper price. New figures from Action Fraud, the national anti-fraud and cybercrime center, said it received 351 shadow brokerage reports between January and August 2021.

“There are warning signs that you might be talking to a shadow broker, especially if they use price comparison sites for quotes, don’t have a website or landline number that you can contact them and do not appear on the Financial Services Register on the FCA website.

“If you receive suspicious correspondence from an insurer regarding a policy that you do not have, it is possible that a fraudster has used some of your data.

“Don’t panic, but be sure to contact the insurer and Action Fraud.

“We also recommend that you keep an eye on your account and check your credit report for any research you don’t recognize.”

They should also have a website, as many ghost brokers simply have a profile on social media which means potential clients have no way of verifying if it is a legitimate business.

If the broker is legitimate, it must appear on the Financial Services Register on the FCA website.

If the drivers can’t find them here, the alarm bells should ring.

A legitimate broker would not use a comparison site to find a driver’s insurance policy.

Real brokers have direct relationships with the insurers whose policies they sell.

Source link

Justin D. O'Neill

Leave a Reply

Your email address will not be published.