Auto Theft Information
August 27, 2013
Auto theft can be more complex than strangers stealing your car. Other types of auto theft include:
Owner Give-Ups -- The vehicle owner lies about the vehicle theft and destroys it to collect insurance money.
30-Day Specials -- Owner whose vehicle needs extensive repairs will report the vehicle stolen and hide it for 30 days, just long enough for the insurance company to settle a claim.
Export Fraud -- After securing a bank loan for a new vehicle, an owner obtains an insurance policy for it and reports the vehicle stolen. The vehicle is illegally shipped overseas to be sold on the black market. The owner collects on the insurance policy as well as any illegal profits earned through overseas conspirators who sell the vehicle.
Phantom Vehicles -- An individual creates a phony title or registration to secure insurance on a non-existent vehicle then reports the vehicle stolen before filing a fraudulent insurance claim. Antique or luxury vehicles are often used in this scheme since these valuable vehicles produce larger insurance settlements.
If you know of somebody committing any of these theft schemes or any auto theft contact Crime Stoppers, remain anonymous, and you may collect a reward if your information leads to an arrest.