Fraudulent iPhone claims rise 100 fold

Fraudulent claims for lost, stolen or damaged iPhones have risen 100 fold over the past two years, according to insurance fraud desktop claims investigator VFM Sevices.

The VFM 2012 Fraud Index found that laptops were the most fraudulently claimed item with an average claim of more than £500.

VFM looked at more than 200,000 claims since 2004 to reveal which items were most fraudulently claimed.

iPhones have climbed into the top five over the past two years, with claims rising over 100 times. VFM expects levels to continue rising with the imminent release of the iPhone 5.

VFM director Steve Jackson said: “Gadgets and jewellery make up the vast majority of the claims we receive from insurers. We know there are opportunists that want to get the latest make or model, so ‘accidently’ damage their laptop, TV or phone, to try and get an upgrade.

“People think that they can get away with it, because they are not claiming for a large amount, but sheer numbers of fraudulent claims still means that the genuine policyholder ends up paying in terms of increased premiums.

For every claim that is referred to VFM, about 30% are not settled by the insurer, either because the suspected fraudster walked away after being challenged by VFM claims handlers, or because the claim was repudiated.