What are my rights if my car was stolen from me the insurance company wants to do complete financial background on everyone in the household?

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What are my rights if my car was stolen from me the insurance company wants to do complete financial background on everyone in the household?

And wants the vehicle transferred title to them and we have not even discussed valuation of the vehicle.

Asked on April 25, 2014 under Insurance Law, Minnesota

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

The insurer has to pay you fair value in accordance with the policy (which is a contract), and if they don't, you could sue them for breach of contract and/or violation of the implied covenant of good faith and fair dealing (the obligation to deal in good faith with other parties to a contract). They are entitled to get the title to the car, since they are paying you for it (if it's ever found, they would then be able to recover at least some money from its salvage). And if they suspect that there may be collusion or fraud involved, they are allowed to investigate (e.g. financial backgrounds) to see if it looks like this was a "real" theft or was in some regard an inside job.


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