A sharp increase in fraudulent insurance claims has been recorded by an insurer as cost-of-living pressures mount.
Zurich UK said it has uncovered 4.2 million-worth of fraudulent property claims between January and May this year, equating to 40,000 per working day.
Between January 1 and May 31, Zurich saw the number of fraudulent property claims leap by 25% compared to the same period last year.
High-value jewellery, mobile phones and TVs were among the most common items fraudsters claimed to have been lost, stolen or damaged. The average value of a fraudulent home insurance claim was 8,800.
In one case highlighted by Zurich, a cyclist made a 1,000 claim for a stolen bike just 30 minutes after buying a policy. But mobile phone footage revealed the thief making off with the bike 45 minutes before the cover was taken out.
In another case, the insurer said a DIY enthusiast attempted a 3,000 claim for the theft of his tools.
Asked to provide photos of the tools, he shared a picture of himself with the hardware, but the date showed it was taken after the alleged theft.
The man also claimed bikes worth 2,000 had been stolen from his garden but were found by police in his shed, Zurich said.
Another man claimed a carpet had been burned with hair straighteners, only for checks to reveal he had claimed for the same damage, using the same photos, with his previous insurer a year before, Zurich added.
Detective Chief Inspector Tom Hill, from the City of London Police’s Insurance...
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