Classic car insurance stolen denied?

[1974dodgecharger]

Why would a collector car insurance deny a claim when their car got stolen?  I know someone whos car got stolen and its been 2 months now if not 3 and insurance claims its NOT stolen and wont give him the pay out agreed value for it.  Maybe he is not telling me something...but if he doesn't have it he doesn't have the vehicle, right.

[Baldwinvette77]

it probably has something to do with the police report  lack of information? a guy on my street had his chevy cobalt rear ended almost a year ago, the car was written off and has probably been crushed by now but he still hasn't been paid, the report for the accident first said the mustang driver who rear ended him was at fault, but then changed to nobody was at fault.

[dual fours]

WHO IS THE INSURANCE CO.?
Read the Fine Print of your friends policy.
Sounds like the Insurance Co. is not working for the Insurer.
Lien against the car, Repossessed? But the owner should know about this one.
Insurance co. is suspicious with the circumstances surrounding the theft. They will dig deep into your life if need be.
Not enough pressure by the Insured on the Insurance co.
If you want answers, you have to ask questions.
The list could go on and on.

Dame, this is a bad situation your friend is in. Something is throwing up a Red flag. May be time to Lawyer up.

[Aero426]

May be time to Lawyer up.

[68X426]

Maybe he is not telling me something....

Maybe he didn't pay the policy premium.

Maybe he doctored the VIN, sold it, and filed a claim. 

Maybe he parked it and forgot where it is.

Or - likely that the insurer is challenging the "agreed" price as being wildly inflated, i.e. fraud.  Doesn't mean that they are correct, just he has some documenting to do.

[randy73]

Maybe he is not telling me something....

Maybe he didn't pay the policy premium.

Maybe he doctored the VIN, sold it, and filed a claim. 

Maybe he parked it and forgot where it is.

Or - likely that the insurer is challenging the "agreed" price as being wildly inflated, i.e. fraud.  Doesn't mean that they are correct, just he has some documenting to do.


Cant be fraud if insurance company agreed to the value, a lot of times they hold out because the police have a lead or something similar.

[DAY CLONA]

Maybe he is not telling me something....

Maybe he didn't pay the policy premium.

Maybe he doctored the VIN, sold it, and filed a claim.  

Maybe he parked it and forgot where it is.

Or - likely that the insurer is challenging the "agreed" price as being wildly inflated, i.e. fraud.  Doesn't mean that they are correct, just he has some documenting to do.


Cant be fraud if insurance company agreed to the value, a lot of times they hold out because the police have a lead or something similar.

Like any Insurance company nowadays be it home, auto or personal, it's either "deny, deny, deny, deny, or delay, delay, delay, delay coverage before having to let $$$$ out of their account, they're either hoping it appears on police radar, or they're digging deep looking for any excuse not to pay the claimant....DAMHIK

[Tilar]

Like any Insurance company nowadays be it home, auto or personal, it's either "deny, deny, deny, deny, or delay, delay, delay, delay coverage before having to let $$$$ out of their account, they're either hoping it appears on police radar, or they're digging deep looking for any excuse not to pay the claimant....DAMHIK

I was General Manager in a body shop for a while and came to the conclusion that Insurance companies have 2 rules they live by... 1) Make sure you do whatever you can to screw the insured or the body shop out of money... and 2) Do anything within legal limits to make sure rule #1 happens.

[smithenhiven]

I had my daily driver Honda Fit stolen from me several years back.  Filed a police report, turned in the imsurance claim, I think I had to wait 30 days to see if the car surfaced, it didn't, and I was paid immediately.  The thing I found odd, was that about six months after that, the car actually did surface, and surprisingly it was in decent shape.  Aside from a few new dents and dings, it was still all there, looked like they joy rode it hard and then abandoned it.  I asked the insurance company if I could buy it back from them.  No response, each time I called I got "I can't say, I'll have to confirm that with a manager".  That never happened, and my little Honda was finally gone for ever, probably sold at an auction somewhere.

[timmycharger]

Like any Insurance company nowadays be it home, auto or personal, it's either "deny, deny, deny, deny, or delay, delay, delay, delay coverage before having to let $$$$ out of their account, they're either hoping it appears on police radar, or they're digging deep looking for any excuse not to pay the claimant....DAMHIK

I was General Manager in a body shop for a while and came to the conclusion that Insurance companies have 2 rules they live by... 1) Make sure you do whatever you can to screw the insured or the body shop out of money... and 2) Do anything within legal limits to make sure rule #1 happens.

Love this.  I've worked for 2 large insurance companies for the last 20 years or so and I have yet to see a directive that this is what we are supposed to do.      People who are not in the industry think we sit around a table and say hmmm, how can we screw people over today, or my boss saying to me ok, I need you to deny every claim you see today okay? Its laughable.  It's not the wild west, there are governing bodies that constantly audit our files to make sure we are handling them properly.

Yes there are valid claims that should be and are paid properly, people get hurt or property gets damaged, but where is the outrage about fraudulent/staged claims, padded claims, jump in passengers, shady body shops or fake injuries that end up costing people hundreds more in premium per year?  States like MA, CA, RI to name a few have judges in the insurance arena that are so slanted towards the claimant it is literally impossible to stop paying a claim.  Just last week I saw a Workers comp claim where we had the guy on video working under the table while collecting a disability check and getting his oxy and percocets weekly that he was supposedly taking for his injury despite the medical reports showing none of these drugs were in his system when they did a urine test on him. 

You would think that any sane person would see this and say enough is enough but nope, the MA judge denied our request to stop his benefits so the game goes on.  So now the employer of this guy will have his premium skyrocket next year because of the benefits we have to pay out as the state is set up to penalize employers who have lots of claims.

Ok, I'm done with my rant, but whenever I hear that its always the insurance companies looking to screw people it really bothers me after seeing all of the shady crap for the last 20 years.