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post #1 of 33 (permalink) Old 11-05-2013, 07:31 PM Thread Starter
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insurance fraud???

How many times have you did a damage report and then the Nat wants a police report so they can file a claim.
You know dam well that they are not going to use this money to replace the items missing or do the repairs.

How do they get away with it?
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post #2 of 33 (permalink) Old 11-05-2013, 08:39 PM
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I 100% disagree with your statement. I'm an insurance contractor and I do high 6 figures of insurance repairs on the insurance claims the banks make. They do all the repairss per the adjuster scopes

I have seen a few where they took the money and ran but it was because the house needed to demoed.
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post #3 of 33 (permalink) Old 11-05-2013, 08:48 PM
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That alone would not costitute fraud

They are insured for the loss, not the repair. Happens a lot in auto claims too. You get your damage covered, but decide to not fix it, this is not fraud.
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post #4 of 33 (permalink) Old 11-05-2013, 09:11 PM
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I 100% disagree with your statement. I'm an insurance contractor and I do high 6 figures of insurance repairs on the insurance claims the banks make. They do all the repairss per the adjuster scopes

I have seen a few where they took the money and ran but it was because the house needed to demoed.
I don't think you are quite understanding what he means. We get these a few times a month and there is fraud going on for sure. They will get say $3,000 to replace a missing A/C unit, then try to get us to do it for $1,500.00.

CORELOGIC is huge on these.
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post #5 of 33 (permalink) Old 11-05-2013, 09:58 PM
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Simple answer don't so the work. I do a ton and very high volume and I have never been asked to do an insurance scope for 50% discount. Standard with nationals and I work for a bunhc of them is 10% discount and then bill recoverable and receive the funds after work is inspected by insurance.

Are a licensed contrator?

I do roughly 5 ac unit a week and by law and build codes in my state material is more than $1500
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post #6 of 33 (permalink) Old 11-05-2013, 10:26 PM
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Simple answer don't so the work. I do a ton and very high volume and I have never been asked to do an insurance scope for 50% discount. Standard with nationals and I work for a bunhc of them is 10% discount and then bill recoverable and receive the funds after work is inspected by insurance.

Are a licensed contrator?

I do roughly 5 ac unit a week and by law and build codes in my state material is more than $1500
Yes i am licensed but I have never changed an A/C unit and never will. I have an HVAC guy that does that stuff for me. I turn down Insurance work for both the nationals and the public almost every time. We only do the good ones and those are few and far between. I am getting 375-425 a square for roofing right now and i have never gotten that from an insurance company. We just sold a siding job for $600.00 a square and it's nothing more than fanfold and double 4.5. I'm not interested in a national or an insurance company setting my pricing. When I get to price it how I think it should be or on that rare occasion when the insurance pays more than the open market would we do the work.

We are seeing our volume pick up in construction for some reason? Probably just where we are focusing. I did 4 rekeys today that paid $600.00 and only used 10 locks. I wish I could just do rekeys! LOL i don't need crews or materials and when the properties are busted out...NOT MY PROBLEM!!! Some schmuck will be along to trash it out, winterize, sales clean, board up, change light bulbs, and install handrails for $400.00.
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post #7 of 33 (permalink) Old 11-06-2013, 05:03 AM
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I don't think you are quite understanding what he means. We get these a few times a month and there is fraud going on for sure. They will get say $3,000 to replace a missing A/C unit, then try to get us to do it for $1,500.00.

CORELOGIC is huge on these.
Please explain to me why you think what is in bold and underlined, can be construed as "fraud"

This is no different than you filing a claim on your HOI and using cheaper materials...Are you going to return the funds not spent on the repair?

No, this is not "fraud", it is called doing business.
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post #8 of 33 (permalink) Old 11-06-2013, 08:13 AM
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Please explain to me why you think what is in bold and underlined, can be construed as "fraud"

This is no different than you filing a claim on your HOI and using cheaper materials...Are you going to return the funds not spent on the repair?

No, this is not "fraud", it is called doing business.
So you don't consider it fraud when you work for Corelogic on a 25% discount but they take more than half? Your company must be doing better than ours if you can afford to lose money like that. How about the properties where the mortgager has taken the sinks and water heater etc and I have to meet the police and file an insurance claim. We all know including the police that no actual theft took place.

Is that just doing business to?

Come spend a day in the St. Louis area and you will see this in property after property. We waste our time meeting third parties filling out reports and bidding item after item only to be told we can't charge that of the bank is not going to do that. About the 4th time you measure out baseboards, missing wiring, switch covers, and missing vents only to either not get the work or get it for peanuts and not perform it you will understand.
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post #9 of 33 (permalink) Old 11-06-2013, 08:28 AM
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Quote:
Originally Posted by Field Audit Services LLC View Post
Please explain to me why you think what is in bold and underlined, can be construed as "fraud"

This is no different than you filing a claim on your HOI and using cheaper materials...Are you going to return the funds not spent on the repair?

No, this is not "fraud", it is called doing business.
Just so we are clear I have never filed an insurance claim and outside of major major damage wouldn't. If I did what you suggest by using cheaper materials and profiting from the insurance company would the law look at that as fraud?

I believe it does constitute fraud. It just happens so often people have come to accept it as a normal practice. Either way I would never do it.
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post #10 of 33 (permalink) Old 11-06-2013, 11:37 AM Thread Starter
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Originally Posted by Craigslist Hack View Post
So you don't consider it fraud when you work for Corelogic on a 25% discount but they take more than half? Your company must be doing better than ours if you can afford to lose money like that. How about the properties where the mortgager has taken the sinks and water heater etc and I have to meet the police and file an insurance claim. We all know including the police that no actual theft took place.

Is that just doing business to?

Come spend a day in the St. Louis area and you will see this in property after property. We waste our time meeting third parties filling out reports and bidding item after item only to be told we can't charge that of the bank is not going to do that. About the 4th time you measure out baseboards, missing wiring, switch covers, and missing vents only to either not get the work or get it for peanuts and not perform it you will understand.
this is exactly the scenario that I was talking about
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