claimed on insurance, now police found bike!

[thomas]

I'd be tempted to keep quiet...but I'd probably have a proper think about it if it happened.

 

[Black Sheep]

I bought a bike back off the insurance company a few years ago for the grand total of £50,

i probably sold the parts on for about that much but there were one or two bits on it that I wanted, turned out the whole thing but the frame, fork and wheels was scrap so not actually worth all the hastle but NM

so, in answer of your question you can buy the 'salvage' back off them as it isn't worth their while, if asked why you want it then you think having a bike that is not worth as much and not as attractive to theft might be good for cycling into town / work than your shiny new one (you don't have to stick to that!)

you could probably haggle them to quite a low price for it too.

 

[rich p]

There's always the possibility that it's been damaged by the gits who nicked it so it may be valueless in the eyes of an insurance company.

 

[merlinmagic]

We made an insurance claim on furniture damaged in transit from the US. They paid out and left us with the furniture. We stated to them it was their property and to collect in 30 days otherwise we would dispose of it.

They never did a thing. In the end we sold the lot as it could be fixed with the right skills.

My advice tell the insurance company and give them 30 days notice (by telephone and writing) to collect. If they make arrangements to collect then offer to buy out. If they don't you get it without shelling out a penny.

All perfectly legal and legit and the insurance company can't come back to you. If you hold onto it and don't tell them they could technically have you charged with fraud. They wouldn't but it is a possibility. At best it could affect your insurance premium. I have a friend who is a loss adjuster for vehicles and there's one thing I learnt from her always play it down the line with them.

 

[buggi]

We made an insurance claim on furniture damaged in transit from the US. They paid out and left us with the furniture. We stated to them it was their property and to collect in 30 days otherwise we would dispose of it.

They never did a thing. In the end we sold the lot as it could be fixed with the right skills.

My advice tell the insurance company and give them 30 days notice (by telephone and writing) to collect. If they make arrangements to collect then offer to buy out. If they don't you get it without shelling out a penny.

All perfectly legal and legit and the insurance company can't come back to you. If you hold onto it and don't tell them they could technically have you charged with fraud. They wouldn't but it is a possibility. At best it could affect your insurance premium. I have a friend who is a loss adjuster for vehicles and there's one thing I learnt from her always play it down the line with them.

this sounds like the most legit way to deal with it. i know you can do this with companies who send you dodgy goods.

 

[Keith Oates]

It's an old saying but true 'Honesty is the best policy'!!!!!!!!!!!!!!!!!!!!!!!!!!!!!