4bus

And the insurance companies are getting wise! A friend of mine ripped his drive off on a rock pile last summer, insurance paid. At the end of the season he went to take his boat off the lift and his 30ft aluminum trailer was gone, stolen from the marina. He called insurance on that as well, took them 2 months to replace. They ran credit reports on both him and his wife, checked their last year tax statements, verified they were both still employed, and came to their house to make sure they were not "living beyond their means".

Had one thing been out of place he might not have gotten paid. The reason the insurance company gave him for investigating: "People are stripping their boats, making claims to raise money, then replacing the parts with the ones they took off"

Cash Bar

That's a crock of crap , too. If I pay the premiums, whether or not I pay my other bills is IRRELEVANT.

If the insurance company thinks I did it for the cash they can certainly REPLACE the trailer instead of handing me a check.

Fountain4402

Either way guys a lot of people out there have done this kind of stuff and will continue to do this. Everheard of Amway, multi billion dollar company owner also owns the Orlando Magic. Well his dad and his friend mysteriously were sunk out on a boat in the big lake. Word has it that money from the boat started the business. So it happens.

LaughingCat

I voted for "Justin is out of luck" because he didn't register the boat int eh first place. He cannot prove ownership therefore, he cannot prove theft. It seems that the Texas owner might be the one. But he got his money from Justin. So Justin is outta luck.

The Texas owner might be a little pissed if he knew that Justin didn't register and officially take ownership. Who would have liability if Justin cause a wreck with massive damage, injury or death and not enough insurance to cover it? If he didn't register it to skirt paying taxes, why would he insure it, or insure it enough? So the injured might look at the last registered owner and sue Mr. Texas.

Fountain4402

thats what bothers me, he had or has no way of ownership. But you see this all to often you go buy something or a buddy buys something and the previous owner never titled it or registered it in his name. makes no sense

fountainfan42

very well put .

Fountain4402

True, why do they do a credit report with all insurance? Insurance is a racket, plane and simple, you need it yes, but it should be your choice, and it shouldnt cost what it does.

LaughingCat

Oh Man. You are totally speaking to the choir on that one. I am insuring the item, not my credit rating.

Fountain4402

As long as you pay the bill the second you dont pull the coverage that should be how it works. But the bean counters have some sort of formula. I would say though people with poor credit usually have less things and dont take care of them

SDFever

It's not quite that simple if there is suspicion with the carrier.