Talk about stolen gear   Insurance paid claim.

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Jorge Torralba 2009-11-02 Views: 282

Does anyone know what happens if an insurance company pays a claim for a stolen camera and then later on the police recover the camera and return it?

dbcruz

Insurance paid claim. I may be wrong. But, I have heard or read in the past that if the camera is returned to you, it may be kept. You will need to verify with your own company but from what I understand, it is not like a recovered automobile that can be resold and retitled.

ramon torralba

Insurance paid claim. The purpose of insurance is to indemnify you, or to place you in the same financial position that you were before the loss. If the gear is recovered prior to settlement, it should be returned to you as its rightful owner, but if you were paid by the insurer for the gear, the gear should belong to the insurer if a settlement has already been made, much the same as with a car or truck. Keeping both the gear and the insurance claim settlement is placing you in a much better position than you were before the loss, and is wrong. Also, I believe most carriers would allow you to keep the gear at a reduced cost, in addition to the claim settlement.

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