Insurance fraud is a long time battle of insurance companies costing them over $80 billion a year. With the increased reports of fraudulent insurance claims and staged accidents, insurance providers have raised the price of insurance premiums for insured drivers. Although, raising the cost of insured drivers premiums seems unfair, insurance companies must compensate for the loss they receive when drivers are involved in accidents with uninsured drivers. The rising cost of insurance due to the uninsured has become a state wide problem in the state of Florida and law officials are stepping up to battle the rates of uninsured drivers at an attempt to lower the cost for responsible and insured drivers.
Governor Rick Scott announced one of his top priorities for this year is to battle uninsured drivers. Officials are trying to pass a legislation to fight personal injury protection insurance fraud.
If legislation is passed, drivers will expect insurance rates to drop as the rates of insurance fraud drop. But unfortunately, insurance rates are based on previous years costs and rates. Because of this, drivers should not expect a decrease in insurance premiums for at least a few years at all.
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