Stolen / Recovered car
Free Insurance Quote Comparison
Secured with SHA-256 Encryption
UPDATED: May 23, 2013
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
Insurance Question from Needham, MA
Asked on 05/23/2013
Stolen / Recovered car Car stolen 43 days ago. After 30 days I signed title over to ins. Co. & sent in along w keys and bill of sale. They had not cut a settlement check for me yet. Car was found yesterday in another state in bad shape. I say car is theirs since they have my title. They say car is mine. Whose is it?
Answer given on May 27, 2013
When a are is stolen, and you have comprehensive coverage on the car, the insurance company usually waits for 30 days before offering a settlement. Since you had signed the title over to the insurance company it would seem that the company had accepted the total value of the car. However, if they are balking, then you may need to proceed with the claim as a recovered vehicle.You indicate the car is in bad shape. It is possible it will be considered a total loss and you would still get the actual cash value of the car, which would be the same amount offered by the insurance company.Have the insurance company inspect the car where it was found and see if they agree that it is a total. If they do not agree it is a total, then you need to have them repair the car and have it returned to you. That is a part of their expenses. They may then agree to a total loss and will let the issue resolve itself.
IMPORTANT NOTICE: These answers are for general information purposes only and are provided by the person answering and FreeAdvice.com AS IS. It has not necessarily been reviewed by the management staff of FreeAdvice.com nor is it binding any insurance agent, broker, or other insurance professional or any attorney or insurance company. Insurance laws, regulations and practices vary from state to state and insurance policies and practices differ from company to company, by type of policy, by state and locality and by type of insurance. Tiny variations in the facts, policy language or a detail not set forth in a question often can change the outcome or a professional's conclusion. Although FreeAdvice.com has confirmed that the answer(s) was/were provided for the account of an experienced insurance professional, that professional may not be licensed in the state referred to in the question, and may not be experienced or up to date in the subject area. Unlike the answers provided here, upon which you should NOT rely, for personal advice you can rely upon we suggest you consult a licensed insurance professional in your area or retain a licensed attorney listed on AttorneyPages.com to represent you.