Progressive Ins. wants to buy my boat???
 

Just got a call from a theft investigator at progressive wanting to buy my boat, says his client had the same boat that was stolen, and he is looking to replace it with mine. Is this guy serious, or is he fishing around??

Man, that sounds wierd to me. Who could he call to see if this is legit?

tell him to bank wire ya the $$$ by 5.00 2day and pick her up 2morrow :drink: you'll know just how SERIOUS he is wont you ????

That sounds pretty messed up.

I would call progressive and ask them. I doubt they do that but are most likely looking to hose the guy that had his boat stolen. Maybe he had the replacement value higher than you would sell yours for and are looking to justify not paying up.

That is what I was thinking, either that, or they are looking to see if mine is legit. I have to admit, there is a funny paperwork trail on my boat, and there is no HIN on the transom due to replacement transom/glasswork, but due to my frequent posting on the forums, and the 2 previous owners posting along with me, I can prove it has been in my posession for approx 7 years.

If this is a for real deal and you have ever given any thought towards selling your boat I'd say "jump on it right now"
I, for my business, bill for insurance claims at a much higher price than what I can ask and get in the open market when a customer is paying his own bill for equal service.

You'd probably get noticeably more for the unit from them than you could trying to move it in the open market, and the check will come instantly.

See ya,
Kelly

My friggin phone battery is just about dead(too much beer on Sunday and forgot to charge it), so I let it go to voicemail, I MAY call him back tomorrow.

I agree, if it is the real deal it would be a no hassle exchange, however in his message, he is already trying to get the price down. I have a # in mind that would make it worthwhile, I need to have some $$ to pay some bills, and get another smaller boat, otherwise this one is paid for, it can sit next to the house for when I can afford to fill the gas tank:drink:

Do you know who ownes Pregressive, be careful dealing with left wing loons.

Just did a reverse lookup on his #, unpublished from Las Vegas............

http://www.whitepages.com/search/Rev...one=7022157816

Rick, I was gonna say, find out what branch he is with, and call it, to see if the guy works there.

+1

what happened

Sounds like a scam to me.. I would think an insurance company would have too much liability in finding a replacement boat.

SCAM........

I agree Tom, but gonna call back tomorrow, and drill the guy with questions, if he is legit, he will have no problem answering them:evilb: I would like to sell it and move on into something a little different, but at the same time I like the boat, its just that it is a gas hog for a 60MPH tank:lolhit:

Exactly, I want full name, and his supervisors title and #, if all checks out and he is willing to pay the asking price, he can have it, I'll get a new little rocket, something easier to tow, better on gas, and faster:evilb:.

If I am the guy that lost the boat I don't want the insurance company finding me another boat, I want the cash in hand so I can go find one myself.

The more I think about this, I'm curious:

How did he find you and get your number?
Is your boat listed for sale anywhere?

Most scammers these days avoid the phone by and large, as they prefer email for its better anonymity, so this kind of has me baffled.

And on the flipside, if my boat/car/whatever was stolen, I sure as heck would not under any circumstance accept another "replacement" boat/car/whatever in exchange. No way I'd let that fly. Give me the $ and I'll go find another one that's exactly to my liking.

Insurance Company are in the business of selling policy and settling claims.

As for as I know they only buy boats after they are totaled and had them insured.

This being said tell him to wire the funds.

Claims (Policyholder Line): 1-800-274-4499

Hopefully you got the name of the guy from Progressive that called you. DO NOT waiver on the price of your boat, OR tell him that you want an independent third party to survey your boat. Use only NAMS or SAMS surveyor. Then use the established value as the sale price. Make sure that Progressive endures the cost of the survey....

When you call in, ask to speak to a supervisor and tell them that you need to confirm a random call that you got.

Then, go from there. :)

Progressive doesn't want to PAY ANY claims, let alone PAY for another boat in order to PAY a claim.
Progressive BLOWS!

Since you're here Stacy, would a situation like this be common practice? Have you ever heard of this before?

It is listed on Screamandfly, the outboard site. Someone mentioned that it IS kinda rare, and MAY be hard to replace with a used one, an older 24 Pantera single outboard, for what thats worth??

Thanks Stacy,

I am gonna print this out and have it with me when I call. I have his first name, and phone #, but he didnt leave a last name, on a good note, he did sound very professional, it could be real, who knows.

This is perfectly normal and shouldnt cause alarms.

He is looking to replace a silmilar boat that they/Progressive insured and that boat was totaled out or was stolen. You evidently have your boat listed for sale and he simply saw the ad. Yours not having a HIN though will most likely kill this deal.

I'm a Lexus dealer and we get calls from insurance companies like this frequently on our pre-owned cars that are similar to what their policy holder lost.

Not that it doesnt have one, the fiberglass was repaired in the area, so it just needs to be replaced, Not sure what is the right way to do it, but have seen many boats with the #'s just scribed in using one of those electric engraver things. I have all of the paperwork for the boat, including photo's of the transom replacement, and know the 2 previous owners personally, in fact the guy I bought it from is a member here(and so is the guy he bought it from), and also is an insurance claims guy, I just spoke to him, and he will make some calls if necessary. I wouldnt think that the claims guy would go thru the trouble of finding his client a boat, but then again, if it were an older boat, and mine is the only outboard to be had, it may be cheaper to buy my boat rather than stroke a check, or buy him a newer one.

Baesd on the boat that Progressive is looking to buy... no. Progressive has a replacement cost policy only on boats that are 2 years old and newer. They do not offer replacement cost policies on boats of this age.

So, that said, there was a post that was made by a Lexus dealer that mentioned that this is normal practice. In the car industry, yes, this would be 100% normal especially on higher end vehicles such as a Lexus. The auto insurance industry has started writing "new car replacement" policies/endorsements over the past couple years, so on a vechile, this would be a common thing that a auto dealer would run into.

But again, this is not normal on an older boat based on what I have seen.

I am not saying that this isn't legit and that it can't happen, I'm just saying that I rarely see something like this happen unless it is for a replacement cost policy which is only available on NEW boats.... But insurance companies often times need to think and work outside the box and normal operating procedures to close out claims. So, I would say, entertain the idea if the offer is fair. :)

Hope that helps shed some light...

I've had a call like that before on cars. Progressive offers a service where they find a vehicle just like the one you had. It all went smooth for me check cleared fine!

Thanks a bunch for that explanation.
:)

If it is legit is the person making the claim have an "agreed value" policy much higher than what you are asking.Is he using you to try to get out of paying.Look you want x$ your boat was not worth x$ he is one just like it for x$.

Insurance companies do find like kind vehicles for their insured. I believe it is called "substitution of collateral" and we have used it at work when we do not agree with the amount being offered in a total loss claim. The insurance company finds a vehicle with the same options, same engine, similar miles and provides it the us. But we are talking work trucks and vans, not boats. Isn't there a HIN inside on some boats?

I think that what they are going to do is find the insured a few boats like what he had. It is then up to the insured to either take the check and run or buy one of the other boats that they find.

Dont do the wire thing have them bring CASH and then we will see how serious they are. I one had check wired from a bank and I was there when they did it and there was a problem a few days later and they ripped the money out of my account. Was selling a car for my bro in law.....Took 1 week I had to go to his house with the flatbed and threaten him Bingo cash in hand.:drink:

I was thinking the "agreed value" thing to. Use to know a guy that collected "collector cars". The kind you see in magazines. They were not insured for blue book value that was for sure. It is a little weird for an agent to call though. Those kind of agents usually have a broker find stuff like that.

One, he would need to acquire a survey on your boat first and foremost.

2nd, I just don't see it, if anything he might be trying something he saw on vehicle end and applying it to the boat side. Age of boat is along with HIN# sounds like it will not work even if they sign off at the 1st line, the 2nd line will probably kill it.

3rd and most important, I don't see them buying the boat, I see Progressive cutting him a check, then he can pay you.

Call the National Crime Insurance Bureau @ 847-544-7040 and give them the details and ask if they can give you an inside # to Progressive. Approach the NCIB that you believe it's a scam, they will definitely check it out.

good luck

Said the same thing on your other thread.

Progressive will do some of the legwork to find a policy owner a 'like' boat when one is totalled.

Audio fin summed it up pretty well.... they will either offer the customer a choice of the boats they found and the price they can be bought for or a check for an equal amount.... it sounds as if the policy was an actual cash value policy and not an agreed value policy so they are most likely trying to establish the acv so they can settle the claim...

i had a broker call my shop to replace motorcycle that was 2 years old for a insurance company to replace a loss they had...its been a few years but i think if my memory is correct it was progressive also. the deal went smoothly for me

Reguardless ...the bottom line is..do your homework because people are coming up with new ways to scam every day! Their even making exact replica ebay pages on ebay that are fake! Technology is great in the right hands