stolen recovered question

[Porter]

stolen recovered question

just wondering about this

say you got your car stole and the police never found it,

and the insurance company pays out .

few weeks later cops find ur car and return it to you,

fw questions?

1: how long does it have to be missing before insurance company patys out?

2: if when they return it obviously the insurance company wont know unless you tell them, can you sell the car on - or is it written off? ( which is illegal to sell it on then)

3: if they dont know about you getting it back , can you then strip it and sell it for parts?

4: if they do know about it will they come out and remove it, or take their payout back?

only answer if you know, i wondered this for ages

 

[Daz500]

once the insurance company pays up it becomes their property.

if it turns up then they still own it and will seek to take it back. if you have sold bits etc then you have stolen from them and you will be prosecuted.

 

[Boydie]

but how are they to know u have the car back?

 

[Marc]

its not your car once the insurance company pays out... it belongs to them, and i'd say teh police would contact them letting them know that the car has been recovered

 

[Porter]

agh, not that im up to anythuing, lol

i always wondered,

 

[Daz500]

sounds like there are a few shysters on this forum :lol: :lol:

 

[BigJoe]

This happened to my Mum, her car was stolen with the keys and never found. After 8 weeks, the insurance company paid out (with a courtsey car inbetween) then the car was found...in perfect condition, wit the keys.
The car belongs to the insurance company!
They then sell it on again as an insurance write off (class D i think). she bought the car back from the broker selling them for £1500 less..... tidy profit made

The only bother we had was trying to re-insure the car with the same firm....after it was stolen and then bought by us again!

Bottom lline mate, the car doesnt belong to you!
And PC Plod shouldnt have returned it to you!

 

[Boydie]

seems a bit scammy and unfair!

 

[pablo]

AFAIK the car would be a cat C - was nicked then recovered but the insurance company had paid out in between.

the insurance company will then flog the car to a salvage yard who will break it/ crush it/ sell it depending on what condition its in when recovered.

makes no odds to buy one if wasnt damaged and is perfectly legal to own and drive.

some people when they write a car off can buy it off the insurance company and put it back on the road.

 

[BigJoe]

Thats kinda what we did in a round-about way, but what Porter is saying, sounds really dodgey to me ?

 

[Porter]

i must say, im in no way in thinking of doing this,

just wondered, when i seen a program on bravo.