quote:

Originally posted by Aquabird:
How does that work with your insurance company?
I always wondered that. If you get something stolen, turn it in to insurance, they payoff and then you get it back?

quote:

Originally posted by az4783054:
Once an insurance company pays off a claim they typically will send a form letter to the law enforcement agency that has the original report. That form will state that the company has paid off the claim by the original owner and should the item ever be recovered the agency should contact them for disposition of the item. That form notice of intent stays in the hard copy or digitized copy of the original report. At that point the company may contact their client and offer to sell it to the client.

I know that many insurance companies will offer the recovered item back to the original owner for a much reduced price below what they paid out in the claim. If the original owner doesn't want the item, other arrangements are made to dispose of the item. Insurance companies don't want to be stock piling recovered stolen property.

The item is legally the insurance companies and for an original owner to take custody of the item after having been paid by the insurance company, is technically insurance fraud. I worked burglary detail for a few years and worked with major insurance company fraud investigators. I know of companies which subsequently found out that their property had been released to someone else (when the form was in file). They wanted the property returned, or reimbursement or would prosecute. Trust me when I say that insurance company lawyers get paid big bucks to make certain the company isn't losing money.

quote:

Originally posted by cobrajet:
Every time I hear a story like this I'm hopeful my old W.German P220 will be returned some day. As many years ago as that was its highly unlikely though. It's why I still don't keep a "truck gun"