If you receive an insurance payment for stolen merchandise (i.e., guns) and the merchandise is later recovered, what happens to it? FIL lost some guns in a break-in a couple of days ago, need to know. Thanks in advance!

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otis

You could get the guns back depending on the LE agency's policy, then you could tell your insurance company that you want to return the money as you have your items back. Never heard of anyone doing that, but you could be the first.
Chances are, if they are recovered, it will be years later and the guns will look like a doper carried them.

Any property recovered after the insurance has paid the claim is property of the insurance company if recovered. Makes no difference if it is cars, guns, TVs, etc. You usually would be given the option to repay the insurance company for the item and then take possession of it. In most cases you probably wouldn't want to as the property is usually in far worse condition then it was when taken!

If you take Moose Dog's advice, or what he seems to suggest, and claim the items from the Police and do not reimburse the insurance company what they paid on the original claim, you can be charged with insurance fraud if this is discovered. In most circumstances insurance fraud is a felony.

This is what happened to me. Several guns were stolen, along with every thing of value from my house. Insurance paid roughly $100.00 per gun. A gun was recovered, after the trial I was told I could pick it up at the insurance office. I brought my $100.00 to give them back for my gun. If you are paid for your loss, anything recovered belongs to the insurance co. When I told them I had the $100.00 to give them back for my gun I was told that to get it I had to pay them $ 550.00. That was the replacement value someone had put on it for the trial. They were real smart-mouthy and told me that's the way it was and if I didn't like it I could just pay them the full amount the had given me for all of them and they would gladly give me any or all the other guns back if they were ever recovered.The gun was missing for over a year and they wouldn't even let me see it to check on condition until after I'd paid for it. I quickly realized that if I didn't leave right then I was fixing to go to JAIL. So, instead I told them where they could "holster" the gun and left. As far as I'm concerned, I got robbed twice.

Anytime an insurance company has paid a claim on one of our cases we receive a copy of the payment from the insurance company to put with the case file. That way we know not to return any stolen property to the victim. The recovered property then belongs to the insurance company and they sometimes work out a deal with the original victim.

You can bet the ins co has already notified the PD that they paid the claim and are now the owners of the stolen items in the police report. the PD will notify them if anything is recovered and you will never even know of it as you are no longer the rightfull owner. The ins co may let you know that the items have been recovered and do you have any interest in buying them back?

Sister had her home broken into. They took a Chief Special dated 1952 and a 5906. The 5906 has been recovered and they are still waiting on the trial. She has been told by the OPD that she will be given the 5906 back after the trial. She checks in about every three months. Her late husband was an Ector County Reserve Deputy. Another Deputy has made sure she is still armed.

I would have reported this to the state regulators for insurance companies. Advise all LGS about the matter. Pass word to friends and foes. Turn on the lights and watch the cock roaches run.

Bekeart