Could This Claim Go Through

[insurance_web]

Josh, You should read the reply I posted earlier to understand what my point was. Here it is!

I am not sure why you guys think I am perpetrating a fraud or something. I understand that yes this does not make sense.

When I bought the policy, it asked me if I have ever have physical property damage or injury (to which I said no, which is completely correct). None of these happened during the burglary.

About fraud, at no point did I claim that I bought the insurance policy before the burglary. I reported the true time of crime. They know the time I bought my policy because its on the policy and is about 12 hours after the burglary.

Why I asked the question is to find out if this was some kind of a loop-hole that may work. Because the policy reads that it starts on xyz date but does not say what time. No where does it have any clause regarding that it is after the time it was bought. Simple one date (xyz).

Sorry to offend you guys. Thats not what I meant to do.

Thanks for your replies. I appreciate the help!

 

[djs]

....let me also add, if your intentions are not to defraud the carrier I apologize, I am used to seeing fraudulent claims almost daily. My area is the insurance fraud capital so we see this quite often. I mean no offense, but insurance fraud is one of those things that gets me angry.

Funny, I'm seeing a HUGE rise in these as well. Not sure I live anywhere near the fraud capital, just a huge trend upwards.

I've always had a few, but I'm seeing a LOT more claims on newer policies. I've started questioning a LOT harder on comp/collision coverage on cars that are 10+ years, especially if they haven't had prior insurance, etc.

Signs of the times.....

Dan

P.S. I took the OP's question as a question of curiousity. If he wanted to file the fraud claim, he wouldn't have posted it here first.....

 

[insurance_web]

most of the applications I review say something on the lines of, "have you had any losses whether or not paid by the insurance company within the last 5 years." If I check the yes box the policy is ineligible. The only way to get around that is to lie.

The same thing goes with auto, if my customer who does not have comp on his policy calls to add comp because a rock hit his windshield that morning and he wants to make sure he has comp so he can file the claim, is still committing insurance fraud in my eyes.

I too have added coverages, and sold policies the day of claims, but not so the insured could file a claim on that policy, only because it made them think about the future claim they may have.

The OP's intent is to defraud the insurance carrier.

let me also add, if your intentions are not to defraud the carrier I apologize, I am used to seeing fraudulent claims almost daily. My area is the insurance fraud capital so we see this quite often. I mean no offense, but insurance fraud is one of those things that gets me angry.

Josh, Here is what I wrote earlier, that I don't think you read. Here it is anyways,

I am not sure why you guys think I am perpetrating a fraud or something. I understand that yes this does not make sense.

When I bought the policy, it asked me if I have ever had physical property damage or injury (to which I said no, which is completely correct). None of these happened during the burglary.

About fraud, at no point did I claim that I bought the insurance policy before the burglary. I reported the true time of crime. They know the time I bought my policy because its on the policy and is about 12 hours after the burglary.

Why I asked the question is to find out if this was some kind of a loop-hole that may work. Because the policy reads that it starts on xyz date (the same date of burglary) but does not say what time. No where does it have any clause regarding that it is after the time it was bought. Simple one date (xyz).

Sorry to offend you guys. Thats not what I meant to do.

Thanks for your replies. I appreciate the help!

 

[Norwayguy]

You have gotten your answer...It is no you where not covered for that theft...You could always call the company or your agent and they will tell you the same thing...There is no insurance policy I am aware of where you buy the policy after the claim has occured and had it covered...

 

[STIBROKER]

When I bought the policy, it asked me if I have ever had physical property damage or injury (to which I said no, which is completely correct). None of these happened during the burglary.

Then how did they get in to take your stuff........

 

[joshb]

Funny, I'm seeing a HUGE rise in these as well. Not sure I live anywhere near the fraud capital, just a huge trend upwards.

I've always had a few, but I'm seeing a LOT more claims on newer policies. I've started questioning a LOT harder on comp/collision coverage on cars that are 10+ years, especially if they haven't had prior insurance, etc.

Signs of the times.....

Dan

P.S. I took the OP's question as a question of curiousity. If he wanted to file the fraud claim, he wouldn't have posted it here first.....

It is truly out of control right now. We have 4 office locations, 2 in the Tampa area and 2 in Orlando, both are very high on the fraud list. Tampa was #1 in 2010. About 75% of the new home closings we are writing are homes that were vacant for awhile and foreclosures. Out of those I would say about 25% turn in claims within the first few months. Mostly A/C units, and theft. some water here and there. A few carriers will not let us write a policy if the home is a foreclosure.

Naturally, after dealing with this so often, my first thoughts are fraud. After all I sold a policy on the 25th of July and he had a loss on the 26th... A/C unit. After further investigation he has 2 prior losses one at another home he just purchased, also an A/C unit. Its a trend...

 

[djs]

I actually go out and look at every foreclosed home prior to closing. Those are huge risks.

Problem is, the neighbors all know its empty and about to close. Its a simple time to help yourself....

Some fraud, some not, just a high incident rate when the house has been vacant for a while....

Don't get me started on auto claims. Let's see, 3 months behind on your payment and all the sudden your beatup car gets stolen????? Do you think we don't check with your finance company?

Dan

 

[Guest]

can I buy a life insurance policy.............AFTER I AM DEAD!
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actually, to teh thread starter, Yes, this would be covered, please file the claim, I promise I will come visit you in prison, I PROMISE!

 

[b61mack]

this has to be someone pulling our chain... can't fix stupid. red blood sell him soap insurance. so when he drops it in prison, he is covered.

 

[briko3]

this has to be someone pulling our chain... can't fix stupid. red blood sell him soap insurance. so when he drops it in prison, he is covered.

Is that what they're calling it now?