Is it right for an insurance company to ask for your financial details when making a claim?

I had a boat stolen recently and am in the middle of making an insurance claim. They have assigned a private investigator to the case and he has asked to see all my banking details. Are they allowed to do this? It's confidential information that i would rather not disclose. Thanks in advance.Is it right for an insurance company to ask for your financial details when making a claim?
Yes, they have the right to do this. It is part of their investigation. They will first determine if you had anything to do with the ';theft'; of the boat. If you are not involved, then they will advance the investigation. The reason they are doing this is because it wouldn't be the first time someone made their boat disappear to get out from under it. Not saying you are guilty, just pointing out that these are often insurance fraud cases.Is it right for an insurance company to ask for your financial details when making a claim?
Yes they are allowed to do this. If you read your policy it tells you that you must cooperate in the investigation and provide any documentation they ask for.





With the economy tanking, the rate of fake theft claims has risen sharply so companies look at all sorts of things to make sure the claim is legit. They want to look at the banking records for two things. 1) your general financial condition and 2) any deposits for amounts near the amount of the value of the boat.





If the claim is legit you have nothing to worry about. If the claim is not they will deny the claim and possibly, but not likely, prosecute.
Damn right it is. Either cooperate or have your claim DENIED and your policy canceled. It's right there in black and white in the policy.
Yes, they can do this. They are investigating to make sure no fraud occurred. If you do not co-operate, they will not settle