Perhaps it's time that insurance companies start taking a closer look the policies they dole out. San Francisco-based Quality Planning agrees, and that's why the company works with insurers to help cut down on some of the fraud found throughout the industry. One area that's a bit surprising? The amount of luxury cars that wind up covered as farm equipment.

Auto insurance companies typically offer discounts for vehicles that are exclusively used on or near farmland. There's less traffic, and therefore it's less likely that the vehicle will be involved in an accident. Quality Planning took a look at approximately 80,000 vehicles insured as farm equipment, and found that nearly eight percent might not be sowing any oats.

One enterprising "farmer" listed their Audi A4 as farm equipment, despite the fact that his or her slice of land was located in Brooklyn, New York. Checking the farm equipment box netted the owner a savings of $389 per year. Another "farmer" classified their Cadillac Seville for special use, despite living in Los Angeles. The Caddy owner was saving $61 per year.

Those figures don't sound like a lot in an age of expensive car insurance. That's not the case, however, when you step back and examine the fraud as a whole. All told, people reportedly scam the auto insurance industry out of $150 million per year. We know you don't feel too bad for them, but you'll probably get a little ticked off when you realize that money is recouped on the backs of honest car-insurance-paying folks like yourself.

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