Two Theft Claims in Less Than a Year: Suspicious?

[bear bryants hat]

I have a client who just last year was awarded a comp claim for his motorcycle being stolen. bike was never recovered. comp paid nearly $11,000.

Almost a year later and now his truck was recently stolen. Truck was recovered but was torched when they found it. so now a 2nd theft comp claim filed within 11 1/2 months. If awarded, this will be another 10-12K claim.

does that sound suspicious to you? 2 theft claims in a year, one vehicle has never been seen again, the other found set on fire.

I ran this by another agent who has 30 years experience and he told me that this definitely sounds suspicious.

just wanted to get your thoughts.

 

[NCAgent]

I have a client who just last year was awarded a comp claim for his motorcycle being stolen. bike was never recovered. comp paid nearly $11,000.

Almost a year later and now his truck was recently stolen. Truck was recovered but was torched when they found it. so now a 2nd theft comp claim filed within 11 1/2 months. If awarded, this will be another 10-12K claim.

does that sound suspicious to you? 2 theft claims in a year, one vehicle has never been seen again, the other found set on fire.

I ran this by another agent who has 30 years experience and he told me that this definitely sounds suspicious.

just wanted to get your thoughts.

It does seem suspicious and you have the right to fire a client if you want. I would think not many agents want a client incurring 20k worth of claims in an 11 month period (I'm dealing with one right now...). Some agents would fire a client like that because they don't want to get caught up in whatever drama they attract or possible fraud they are committing (if any?)

HOWEVER, I have a lot of faith in adjusters. Their job is to make sure *little* things happened legitimately and if you think this *big* thing is suspicious then sure as sh*t the adjuster does, too. If they pay out on both they probably have a good reason and went through a lot of work to make sure it was legit. Not to mention that the client will probably lose his policy soon, anyway or at least have SKY ROCKET rates to make up for it. I think the problem will work itself out shortly.

 

[djs]

Suspicous? yes.
Guilty? Not necessarily.

They will put him through the ringer on the second claim to make sure it is legit. If he was behind on his truck payments, it could take a while for him to get the payout.

On the other hand, he may have one day just upset the wrong person, or he may have broken up with his girlfriend or his wife may have found out about the girlfriend.....

Or he may be a scumbag client.

Dan

 

[NCAgent]

Suspicous? yes.
Guilty? Not necessarily.

They will put him through the ringer on the second claim to make sure it is legit. If he was behind on his truck payments, it could take a while for him to get the payout.

On the other hand, he may have one day just upset the wrong person, or he may have broken up with his girlfriend or his wife may have found out about the girlfriend.....

Or he may be a scumbag client.

Dan

This.

This is what I meant with the drama coming from a client. It's not always the client being dramatic but attracting drama from others. I have a few of those now that I think about it

The adjusters will totally make sure he is legit before paying out. That's what they are for and they get recognized at work for their ability to recognize the odd variables.

Maybe you should go get him a lucky rabbits foot for his renewal. Tell him you hope it ends up better the next 12 months. I've been thinking about doing that for some clients.

 

[BlockO]

With the 2nd vehicle in question.... Prior to the theft, when was the last documented oil change? (claims adjusters love to ask that one)

 

[Bertolinoins]

Almost all insurance fraud can be tied to financial struggles. If he was behind on payments or having other financial stress then the adjuster will uncover it. It sounds like he is either a fraud or the unluckiest person around... either way I would ask the carrier to non renew him and then I would tell him to look elsewhere as I can't help him.

 

[JCK818]

I had a client who's car was set on fire 3 times in six times. On the 3rd claim I advised him during renewal he would have to find a new agency. To my surprise, the police found the punks who had done it. The whole thing was caught on camera. I lost 4 policies from him. So, be careful on how you talk to the client and how you let him go. They could be completely innocent.

 

[b61mack]

Give him Flo's phone number!