The first phase of this scam is a collision faked by another driver. In general the con artists prey on seniors to get their money.
An accomplice on the other end
The fake driver motions for you to stop and says that you have damaged the car's rear-view mirror. Once both vehicles are stopped, he asks you for the name of your insurance company. Coincidentally, his is the same as yours and he dials the number on his own phone for you to get in contact with them. On the other end it is actually their accomplice who tells you if you make a report, it will cost you a lot and your rates will go up.
An amicable solution
In order to ‘help you out,’ the con artist suggests solving the problem by exchanging cash right then and there. The amount can range from £100 to several thousand. An 84-year-old lady from France was scammed for over £3000. So be very careful and always try to call your insurance agent yourself and, most importantly, never hand over any cash.