Car insurance: the phantom companies scam

Counterfeit car insurance. IVASS, after having identified two other ghost companies, puts them on guard.

The risk of taking out auto insurance with a phantom company is, if not careful, very high. It is no coincidence that IVASS has recently found two other companies and continues to alert.

Phantom car insurance and non-existent policies

Ghost car insurance is a problem not to be underestimated. There are thousands who, in recent years, have entered into online contracts with sun coast insurance companies from which they have suffered considerable scams.

IVASS is well aware of this and that is why it is diligently committed to researching and reporting on illegal insurance. The last two discovered, in chronological order, were the Tutor and the Nadejda.

From what emerged, these are foreign insurance groups based in Eastern Europe (the latest are a Polish and a Bulgarian), Malta, and Cyprus.

This is not too surprising, because in these places the controls are superficial and the opportunities to grab customers and then cheat them, are greater.

To make motorists fall into the trap are the far too affordable rates.

How to defend yourself: the advice of IVASS

To defend itself and avert the risk of taking out a non-existent policy, IVASS recommends :

  • be wary of excessively low prices;
  • consult the list of cases of counterfeiting or unauthorized companies on the site;
  • call the toll-free number made available for consumers (800 486661) and make the necessary checks.

The Institute also invites users to make sure that the websites of insurance intermediaries always indicate:

  • the identification data of the intermediary;
  • the address of the office, telephone number, fax number, and e-mail address;
  • the number and date of registration in the single register of insurance and reinsurance intermediaries – as well as an indication that the intermediary is subject to its control.

As you can see, it is possible to defend yourself. Just be cautious, check, consult and, above all, be wary of too advantageous offers.