CARCO Has Helped Dismantle Numerous Car Fraud Rings
Andrew Koole
· 3 min read
CARCO, the leading provider of mobile technology for
pre-insurance inspection
services in the U.S., has saved car insurance
companies and consumers a lot of money.Over the past 5 years alone, the company has saved the industry over $2.4 billion by helping identify fraudulent car insurance claims.
CARCO tips that took down crooks
Although CARCO’s technology is used daily to prevent fraud, the company’s app has played a vital role in dismantling a number of million-dollar fraud rings over the past few years.
In 2013, CARCO helped the NYPD break up a car theft ring that stole over 300 vehicles with an estimated value of $15.5 million, according to the
New York Times
.The New York Attorney General also thanked CARCO for its role in dismantling a $1 million insurance fraud ring in 2018.While CARCO helps catch the big fish, the company’s primary role is in identifying smaller crimes. According to its
website
, the company helps investigate 11,000 incidents of potential vehicle fraud per day, with 175 million new fraud preventive data points added annually.How CARCO inspections help save you money
Whether providing tips to take down organized crime or helping law enforcement catch small-time crooks, CARCO’s pre-insurance inspections and data collection keep premiums down.
According to
Edmunds
, auto insurance fraud adds up to $300 to your premiums every year. CARCO’s pre-insurance inspections help catch culprits before their fraudulent claims add to that number.By getting a CARCO inspection, you can rest easy knowing that your vehicle’s condition pre-insurance is well documented. When you need to make a claim, you are much less likely to end up looking suspicious to your provider.
Where CARCO inspections are required
Five states require you to get a CARCO inspection:
- Florida
- Massachusetts
- New Jersey
- New York
- Rhode Island
The company has developed a vast network of registered glass repair shops, tire stores, gas stations, car dealerships, and muffler shops across these states to conduct CARCO inspections.
Other ways to save on car insurance
While the savings insurance companies make on fraud security trickle down to consumers like you, there are other, easier ways to
save on car insurance
.One of the fastest ways to save is by shopping for insurance with
Jerry
. After a 45-second signup, Jerry analyzes your current policy and compares prices with up to 45 different companies so that you know the best deals before your next renewal. To make things even easier, Jerry will set up your new policy for you and cancel your last policy.
