All you really want to be aware of boiler
The topic of boiler rooms and scams has been broached often over the years, with the consensus being one of revulsion. However, this is an emotion that often doesn’t help those taken in by scams. We’re quick to believe what we see on the Internet. So when people tell us there’s a scam going on where we buy our insurance from or that a particular brand of cupcake creme brings them good luck, we take it seriously. And if they can make us feel better about our insurance coverage decisions by telling us their experience was a coal mine – well, then, why not? But just because these stories are prevalent doesn’t mean they always pan out. The best way to stay aware of boiler room scams is to ask questions and be skeptical—but not so skeptical that you stop asking questions altogether.
Be Realistic About the Offers You’re Being Targeted By Scammers.
One of the most important things you can do is to be realistic about the offers you’re being presented with. If someone tries to sell you insurance that will cover all your needs but has a confidentiality clause that keeps you in the dark about what the coverages are, take that as a red flag and walk away. Many companies have scammers operating on their staffs—and if yours is one of them, chances are you’re in trouble. Also, be careful of offering really expensive coverage that has no requirement to pay you if a disaster happens. Be careful of paying for coverage that you know you don’t need to try to get you to buy more coverage. All of this goes to say that if someone is selling you a scam, it’s usually a pretty obvious sign. Don’t get me wrong,
Watch Out for Deceptive Language.
This one is pretty important, so pay close attention. If you’re getting communication from someone claiming to be from your insurance company, it’s almost a must that they are using clear, honest language. If they start spouting off about coverage they don’t have, limits you don’t know about, or a policy you don’t understand, back away. Answering a question about your insurance coverage with “I don’t know” or “I’m not allowed to comment” is a big no-no. Also, don’t let phrases like “We’re working on it” or “We haven’t heard anything about that” spook you. You may be hearing from the company that they’re working on developing a policy, but don’t get your hopes up—that’s not a good look.
Watch Out for Company Scandals and Lies.
What really bugs me when I’m trying to be careful about my insurance coverage is when companies just outright lie to me. What bugs me when I’m trying to be cautious about my insurance coverage is when companies just outright lie to me. It’s one thing to lie about the coverage you have, and it’s another thing to lie about the coverage you don’t have. The former is something you can easily prove wrong by filing a complaint with the proper body. The latter is something that could cost you lots of money in the form of legal fees if you get caught in the crosshairs of a company that’s lying about its coverage. Again, this is something you can easily detect when you speak with a representative. It’s not something that you’ll be happy to discover by reading between the lines.
Don’t Be Afraid to Ask For Solid, Verifiable Proof of What You’re Being Brought in For.
The last thing you want to do is fall into the trap of trying to prove yourself wrong by demanding proof before you’ll hire a company. For example, if you get a quote from a company and they ask you to pay with a gift card instead of cash, demand to see the card and make sure it came with the quote. If you have to ask for proof, you might already be in too deep and want to rethink your decision to bring the opportunity up for consideration. In some industries, like construction, there’s a big problem with shoddy workmanship—and you want to make sure you’re covered for that. But in other industries, like plumbing, there’s a big difference between being careful and being afraid. Point is, don’t get pulled into a company’s attempt to put the fear of God in you.
Don’t Give Out Personal Information to Scammers.
This one is pretty important. If you get offered a job as a consultant or a contractor, or if you just start getting calls or letters from contractors you’ve never heard of, run—as fast as you can—to get a hold of someone from the proper office. Remember, if you get in over your head, or if someone tries to bully you into doing work you don’t want to do, there’s probably a scam involved. Be careful. Be smart. Warn others. Be wary.
The scammers out there are on the prowl for new victims, and boiler room scams are one of their favorite ways to meet and attract new targets. There’s no easy way to tell if someone is involved in a scam. It takes practice, but with a little bit of effort, you can spot a scammer and save yourself from a bad situation.