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| *Vultures Knob>>>Bike Insurance |
I had my motorcycle stolen its now been recovered but......? |
my motorcycle got stolen off me so i reported it to my insurance company who then paid out my claims cheque. i received my cheque from them within the next couple of days and put it in my bank well about 2days after cashing in my cheque i received a letter explaining that my bike had been recovered im worried the bikes gonna be badly damaged and im goin to have alot to pay for it to b repaired and also im not sure wat the insurance company will say do you know if they will want the money back which they paid me or will they let me keep it to repair my bike??? I think the bike is now legally owned by the insurance company. I would get the damage valued, if it is a write off you don't have to worry, but I would contact them and discuss this or even better phone another insurance company for advice and ask the same question. Ask them what if the bike you are going to insure is stolen and then recovered etc. Good luck. My bike never turned up again. So I guess I was lucky. ;-) That's something you're going to have to work out with your insurance company. If the insurer has issued the check, they have in effect bought the bike off you. So no need to worry if it is damaged or not. It will be up to the insurrer whether they wish to scrap or repair The bike now belongs to your insurance company, let them know it has been recovered, their problem not yours. they will take your bike to a garage have it assessed (insurance company) and give you a price to buy it back but you do not have to buy it back if you dont want depending on damage so give them a ring tell them the bike has been found and they will sort the rest out Once your Insurance Company has paid out, the motorcycle belongs to them. Send ALL the paperwork to them. My brother had his bike stolen last year. The Insurance Company paid out. Then a few months later the bike was recovered, so the Insurance Company took ownership of the remains. If they've paid out, then - strictly speaking - the bike is theirs. |
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