What happen if a stolen vehicle is found after you collect from insurance?

What happens in a situation if you hold a stolen vehicle and time goes by and it hasn't been recovered. You collect money from your insurance company for you loss and spend that money on another vehicle or doesn`t matter what. What happens if your stolen vehicle is found AFTER you collect that insurance money. Is is still considered your vehicle and returned to you? Does it belong to the insurance company? Would you have to pay cheque the insurance company the money back in decree to get your stolen vehicle that was found? Could the owner of that vehicle ever own the option of having that vehicle hindmost if recovered after collecting from the insurance? Or is it considered no one's vehicle anymore after a certain amount of time?
Answers:
The sports car belongs to the insurance company. You would not be able to register it and if you try the DMV will call the police because it will show up as a stolen vehicle.

You want to call the insurance company and tell them you found the saloon so they can make arrangements to pick it up.
As previous answers have stated the vehicle is immediately ‘salvage’ and the property of the insurance company.

Obviously they don’t want it, but it’s also unlikely they will handle the disposal themselves (though I’d certainly ‘phone and ask). They will probably own an arrangement with a salvage yard to dispose of adjectives their salvage vehicles (wrecks and uneconomic repairs as well as recovered stolen). So they might a short time ago give you the details of the salvage yard and speak about you to call them. From then within you’re in competition with ‘trade’ to buy the vehicle, although if you exercise a bit of charm they might bestow you a bit of preferential treatment as the ‘rightful heir’ as it were.

Always worth a go… you might pick up a bargain given that you hold the advantage of knowing the vehicles history.

You may find that out of that utter 1,000 pay out that you could pick up the vehicle as salvage for 700, spend 100 on repairs and end up next to your car back and 200 within your pocket. This would be perfectly legal and above board, you wouldn’t be expected to take-home pay that 200 back nor would the insurer ask you to. Source(s): I’ve done myself it on an ‘uneconomic’ repair. After a truck reversed into it; I bought the car spinal column, fixed it up myself with 2nd hand body parts and have lb300 left over. (I was greatly younger and poorer then!).
The vehicle legally belongs to the insurance company. If the vehicle is wrecked they will supply it for salvage. If it's still in one piece they will sell it. You may be capable of keep the vehicle, however you will have to salary back the money the insurer gave you if the vehicle is still surrounded by the same condition, or you will have to pay cheque the insurer the salvage value.
One thing the other people did not point out is that if you try to keep hold of the car and money without contacting your insurance company it is insurance fraud. Depending on the amount, it could be a severely bad thing to hold them file a case against you. They will potential find out sooner or later, as they have probably file the VIN as a stolen vehicle and when you try to sell/trade in later it will come up on a report. Source(s): 14 years contained by insurance - all on the company side. We have 6 relations working for us that do nothing but look at cases that may be fraudulent and they litigate them all.
In such a situation, the stolen vehicle will be owned by the insurer who paid you for it. Generally such vehicle are sent to dealer auction lots for disposal. The only style you could get it back is, if you discover that it have been recovered, you immediately contact the insurer to see if you can repurchase the coupé from the insurer.

The insurer may or may not be willing to sell it posterior to you.
good quiz, but i have no idea


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