Return of Stolen Items

ThePour

Hello.

We were burgled over the summer and eventually our insurers agreed a settlement with us. For one particular item we have spent some of the insurance money but only a small bit.

Subsequently the item in question was found at an auction house and is now in the posession of the police waiting for a case to be put together to prosecute the burglar (and possibly another for handling stolen goods).

As we received the insurance money for this item, are we under obligation to tell the insurers that it has been found? We can't find anything in our policy that specifies this. Insurers must have some kind of cut off date. Say if it was found in 5 years or more, would there still be an expectation to find and contact the original insurers in order to tell them?

Thoughts?

Thnx for your help.

Stevie_Palimo

If you are hoping to cash out in full from the insurance pay out and then have the stolen goods returned on top without any recourse against the original payment received then I believe you are sorely mistaken.

There is a saying :- You cannot have your cake and eat it.

Quentin

ThePour wrote: »

We can't find anything in our policy that specifies this....

Any arrangements over the title to the goods will be amongst the docs you got over the claim (not in your policy).


The receipt/claim form etc will have set out that title passes to the insurer once you have accepted the payout.


Your insurer will probably be happy to let you buy the item back off them, but you must have known the answer to your question before you asked here about it!

stator

The insurers now own the item, so you should tell them. They will probably sell it off cheap, so if you want to buy it back they will probably allow it.