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Insurance Cheaters Call Their Luxury Cars Farm Vehicles

Saturday, July 9, 2011 - 10:30 PM
From LATimes.com
Meet the newest crop of farm vehicles: Porsche Carrera, Mercedes SL550 and BMW Z4.

One wouldn't expect to see such high-performance roadsters pulling tillers, hauling fertilizer or spraying pesticides between corn rows, but if you believe their owners, these expensive vehicles are working alongside the John Deeres and Caterpillars of the world.

It turns out that some drivers of these cars are perpetrating an insurance fraud — claiming them as farm equipment to harvest hefty discounts on insurance premiums. At least that's the assessment of Quality Planning, a San Francisco company that verifies policyholder data for auto insurance companies.

Auto insurers offer farm-use discounts of up to 20% to people using their vehicles nearly exclusively on a farm, where the chances of a collision, theft, or other mishap befalling the auto are lower than in urban areas.

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Oct 15, 2010
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