Insurance question

bambihunter

January 25, 2003 23:13

I have a gun that I recently picked up at the police station that was stolen years ago. The insurance company paid me for it (less the deductable), I have contacted them several times as to inquire what I need to do. I assume I'll have to pay them back at least some for it. When it was stolen it was in new unfired condition, now it has been shot (apparently a lot). Anyway, several months has gone by with me actively trying to contact them, with no responses.

Should I:

A: Just shut up and keep it
B: Sell it and hope they never come asking for it
C: Keep buggin' them about it

Thanks for your input

It doesn't matter what you shoot, just shoot it well...

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  Ronald J. Snow

  January 26, 2003 03:09

  If you contacted them, in writing and kept a copies of your letters, just drop the matter. Most firearms values are not high enough for them to worry about salvage rights. This would not be handled the same as an automobile claim where a title of ownership was transferred to the insurance company upon payment of the claim. Further, consider the volume of claims files the company has accumulated since your claim was processed several years ago and their ability or desire to look for your particular file; it simply is not worth the trouble. My opinion only; after having worked as an insurance agency underwriter for 19 years.

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  papaw al

  January 26, 2003 03:16

  I would send them one more letter.Send it certified mail so you have a valid receipt that they received the mail.If they don't respond within a reasonable amount of time , I would say you are in the clear.

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  nmyers

  January 26, 2003 03:54

  I think that I would also ask my police dept for documentation showing that it was removed from the DOJ data base of stolen guns; you might have a lot of explaining to do some day when you try to transfer it and comes back listed as stolen.
  
  Neal

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  k.stanonik

  January 26, 2003 04:34

  If it was me, you attempted to contact them on the matter , they did not respond, so drop it. I tend to agree about documentaion that it has been entered into the system as recovered and returned to owner.

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  seancody

  January 26, 2003 06:15

  1. You have contacted them. That fulfils any duties you have under your insurance contract.
  
  2. Are you still with this insurance company? If you are not, then if they contact you and tell you you have to pay an exorbitnat salvage value (i.e. over $25.00), you can tell them to go pound sand. Contact me by email if you wnt to know how they determine salvage value.
  
  3. Make sure the police have removed the firearm from any stolen firearms lists & put the paperwork from the police departmenet retrungint he firearm to you in a safe place.
  
  4. Understand that you have made the insurance company's adjuster do a ton of extra paperwork by informing them of the guns recovery. This is hte last thing that they want. Unless tht adjuster want to purchase the firearm itself from his company. The insurance company sells recovered/damamged property in an auction to its employees 1st & then to outside 3rd parties. If this adjuster decides that he wants the gun, he may decide to tell you that the salvage value is real high and that you have to reimburse the company that "salvage value". Of course, that adjuster will be the one who determines what the salvage value is.
  
  Since it is your gun and you have possession of it, you are in a real good position to negotiate. I would not pay them more than $50.00 (and that is only if they were very, very nice to me).
  
  That's my .02. BTW: I have a lot of experience in this area. I used to be a claims handler (adjuster) with two of the big insurance compnaies. Both in Auto and Property.

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  bambihunter

  January 26, 2003 15:33

  Thanks guys, I think I'll do the certified letter as a last ditch effort, then shut up about it. I have the court-release papers from when they released it to me, and when I had to go pick it up at the armory. I'd think that'd suffice for proof wouldn' it? Or would you still double-check with the police on that?
  Thanks for your advice
  
  
  It doesn't matter what you shoot, just shoot it well...

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