Auto Insurance Fraud

Post Date December 22, 2013 – New Mexico Law Enforcement is advising their residents to be wary of a New Mexico Auto Insurance Scam.  The scam involves residents receiving getting a telephone call from a New Mexico Auto Insurance agent offering inexpensive New Mexico Auto Insurance Coverage.  In actuality, the caller is a con artist only calling to collect private personal information for identity theft .

Concerned caller could be part of New Mexico Auto Insurance Scam

The New Mexico Auto Insurance Scam involves the caller stating they are calling from the New Mexico Department of Motor Vehicle.  The caller claims  the state is concerned they might be “paying too much for their New Mexico auto insurance.” The caller then provide a callback phone number in the (505) Area Code. When the New Mexico resident calls back, they are asked for their most personal financial information.

A similar auto insurance scam was also observed last year in the state of Wyoming. That scheme also involved telemarketers but the call was initiated by an auto dialer system with an automated messages saying the Wyoming Secretary of State had released information that auto insurance consumers have also been paying too much for their auto insurance. The truth of the matter is the state secretary’s office do not have access to any database on auto insurance consumers.  In addition, they do not even evaluate auto insurance companies.

On the other side of auto insurance scams, Michigan authorities also advised their residents last month to watch out for insurance agents who claimed that they sell valid auto policies when in fact they don’t have the license to do so.

In the event that you receive a suspicious call about New Mexico auto insurance, you are advised to contact law enforcement or your state insurance regulatory authority.  Consumers must be very cautious about their personal private financial information.