Don't really know you two but I'm starting to form an opinion: Trying to score with and buying toys for a dead woman
Ever score on an insurance company?
- Thread starter cydnote
- Start date
Had lightning hit our house and not only fry a bunch of electronics but it discharged into a wall and knocked some of the drywall off the stud that we had to replace about one sheet worth of drywall. It also tripped the GFI our deep frezeer is plugged into and before we knew it found everything thawed out. Insurance adjuster brought out a contractor to get an estimate on the wall damage and also covered all the electronics and contents of the freezer. We just had to inventory and estimate replacement costs for the electronics and freezer contents and hed use the contractor estimate for the wall repair. Claim was taking awhile so i called and asked if i coukd start buying stuff and he said sure just keep the receipts. Eventually a lump sum check arrived. Had I known that I probably would have purchased a different TV for the basement, the 2 TVs we had to replace we had just bought less than a year before so I bought the same ones assuming we'd be reimbursed from the receipts.
The 1 way we did benefit was the beef we lost we got replacement cost price based on grocery store prices when we bought it from family that raised it at a significantly less price. Then the estimate on the wall the contractor that gave it told me he wouldn't do it for that as there wasn't enough meat left for him to make money on that small of a job. Got another contractor who did it for 1/3 of what that guy said he couldn't make money on it so between the freezer contents and that repair we had plenty left on the claim check to use to purchase a higher end PC that we had to replace and a few other things as insurance did not ask us to provide any receipts.
The 1 way we did benefit was the beef we lost we got replacement cost price based on grocery store prices when we bought it from family that raised it at a significantly less price. Then the estimate on the wall the contractor that gave it told me he wouldn't do it for that as there wasn't enough meat left for him to make money on that small of a job. Got another contractor who did it for 1/3 of what that guy said he couldn't make money on it so between the freezer contents and that repair we had plenty left on the claim check to use to purchase a higher end PC that we had to replace and a few other things as insurance did not ask us to provide any receipts.
As premium payers we think that we are entitled to come out better than before the claim. In your case with the 2 TVs you got to replace exactly what you had--the real reason you purchased the insurance for
Agreed. I was trying to handle it the honest way and wound up with a bigger check than what I actually budgeted to purchase. Had I known it would have been paid out that way I would have just bought a better TV to replace 1 of the 2 instead of replacing with the exact TVs we lost and then maybe found a better deal on some other things. As for the lost meat in the freezer just used that money to pay for our next quarter we were getting in a few months but we got paid for grocery store prices not the significantly less price we pay buying off the farm.
Again we were not trying to come out ahead on the claim but were disappointed with the lack of communication by insurance company as we were told 1 thing when we start the process then just got a lump sum check delivered after we already started to replace things while we waited. We did come out a bit ahead I'm sure because of how they handled it and that's more their problem I guess.
I’m absolutely sure that getting an insurance check for the estimated cost of repair and then doing the repair yourself. Is not insurance fraud.
@mynameisjonas So, since you laughed at this I’m guessing you disagree? Please tell me how the OP ever committed insurance fraud like YOU stated.
It's not insurance fraud. The estimate includes labor... regardless of who performs the labor. Yes, you might be pocketing some money if you do it yourself.... BUT you gave up your time and body to do the work. It's justified. I know several adjusters and they will tell you the same.
Exactly. That’s what I was saying. @mynameisjonas literally said that the OP committed insurance fraud. In no way is this ever insurance fraud. An insurance company is going to pay you what they think it would cost to repair the damage. They will either pay the company directly to fix it or cut you a check. If you can do it yourself, you saved a lot of money and even made some.
That may be true in some cases but I do know that my homeowners policy through nationwide just cut me a check and the adjuster said that you could repair this yourself for much less. We had a pipe leak and it soaked the drywall and flooring in the basement room below. He write a check that day. I repaired it for much less. The second time i made a claim to my homeowners insurance was after a tornado. A tree in my yard fell. I made a claim and the adjuster said it would probably cost $800 to have a company remove the debris. Ok. I’ll do it myself. Cut me a check for $800 and I cleaned up the mess in a few hours.
I didn't take it as he was saying I committed fraud, but rather as a subtle warning as to what is posted. Regardless a final inspection and approval of the work completed had to take place before I received the second (final) check for the settlement. Don't know how all the insurance companies operate but on this sized claim part was issued upfront to secure materials and the balance after approved completion.
I mean after the deracho, our insurance guy asked me how long did it take you to clean the debris up, how many people helped you. When we lost power, I told them I had a generator and he asked how much gas did I use and how much would I have lost $ wise without a generator. I didn't have to pay our deductible, so I can only guess he made the amounts equal up to $1000.
Speaking of scoring on an insurance company. I redid your front walk, driveway and side walk, I had 3 different bids which avgeraged to around $9500. I hadn't heard from the fourth contractor, so I texted him about if he had a total. He texted back "where do I need to be at?" I was stunned. I shot something like $7000 back. He accepted it. I was going to go lower but my voice in my head told me not to. Still I was pretty happy with it. Did a great job on the driveway and got it done the following week after I accepted his bid.
Speaking of scoring on an insurance company. I redid your front walk, driveway and side walk, I had 3 different bids which avgeraged to around $9500. I hadn't heard from the fourth contractor, so I texted him about if he had a total. He texted back "where do I need to be at?" I was stunned. I shot something like $7000 back. He accepted it. I was going to go lower but my voice in my head told me not to. Still I was pretty happy with it. Did a great job on the driveway and got it done the following week after I accepted his bid.
