Law: People Torching, Sinking Vehicles To Collect Insurance

One sheriff's investigator says people who normally wouldn't steal a piece of candy but are driven to desperation have been reporting their cars stolen to cash in on the insurance.

A growing number of financially strapped car owners are torching, sinking or ditching their vehicles in a practice known as owner giveups.

Losses have been concentrated in regions hit hard by the economic meltdown.

SUVs have been found ablaze in Nevada, cars have been dumped in a Miami canal and a BMW was discovered buried in a field in Texas.

Authorities say most of the false claims are filed by first-time offenders looking for a quick financial fix without regard for consequences.

Experts say the insurance losses are recouped from honest consumers as premium increases.


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