Insurance Claims on a Stolen Vehicle?

February 9, 2017

My car was stolen last November. It was recently recovered 2 days ago. My claim was just about through and the vehicle was declared a total loss and I have signed the POA. The only thing missing was the letter of guarantee from the finance company to give to the insurance company, which they are in the process of doing.


Do I have to take this vehicle back if it is said to be drivable? Am I in for a fight?


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February 9, 20170 found this helpful
Best Answer

The decision remains with the insurer. If it's repairable (cost to repair is 80% of less then it's value) then the insurance company will return it and pay for the repairs. If you have no lien on the vehicle, you can take the money and junk the vehicle.


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February 10, 20170 found this helpful
Best Answer

Not really sure but it sounds like you may owe money on this vehicle and the final outcome (for you) may have to be decided after everything is declared/finished processing. The insurance company will decide which is the best option for them (money wise) and you will have to decide if you wish to accept it or fight it.


If you owe money on the vehicle then any cash/check money received will go to the loan/finance company first and any money still owed on the loan will still be your responsibility - whether you have a vehicle or not. If the car is repaired, then you will still owe the remaining balance on the loan but you will have a vehicle.

February 10, 20170 found this helpful

The decision probably does lie with the insurer, though it seems to me that the matter is already resolved and it's all over but the shouting. I could imagine under the situation where you recovered it in intact form (doubt it) that they would call it all off, but then you'd have your vehicle back and all is well> But most likely it won't be in great condition and it will be just totaled/impounded.


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February 10, 20170 found this helpful

If the vehicle is, in your opinion, driveable, you would be committing fraud by taking the money. Do the right thing, have the insurance company examiners take a look and re-assess any damage. You might also want to have it thoroughly checked out by a reputable mechanic: if it's not safe to drive, do you really want to drive it?


By defrauding the insurance company you increase the rates we all pay.

February 10, 20170 found this helpful

Then it's not driveable , so I think maybe you should call around to this's places that will take your vehical and pay you to take your vehical.

February 11, 20170 found this helpful

if they said it was a total loss. then that is the end of it.

February 20, 20170 found this helpful

It was declared a total loss before it was found.

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