Theft and Replacement

[andrea31419]

We had a commercial lawn mower stolen and insurance had replaced it. Now the stolen mower has been found and is being returned to us. What do we do, return the replacement mower?

I appreciate your suggestions.

 

[djs]

Re: Theft

You call the carrier, let them know that the old mower was found. They will likely come by and pick up the old one. You own the new one, they own the old one now.

In essence, when you accepted the settlement, you 'sold' the old property to the carrier in exchange for the check.

I say they will likely come by and pick it up. They will if you push them to. Outside of that, they will if they see value in picking it up. I've seen them ignore property for a while as well. If it needs to be disposed of, it is up to the carrier to take care of that at this point.

Dan

 

[whatsa]

Re: Theft

Yes - you have a responsibility to advise the insurance company, and ask for their instructions on how to dispose of the (recovered) mower

 

[Accelerated]

Re: Theft

They will likely pick it up (the old mower) and auction it off, and then subrogate against whoever it was recovered from for the difference.

My company has been told on numerous occasions to either send an adjuster or hire a transport service to recover business or personal property that was recovered following a settlement, and to determine who it was recovered from for further action.

Best advice is to contact your carrier soonest and advise them of the situation. If they are nonchalant about it (and they probably will not be), to cover your rear, request something in writing that states that they do not wish to recover the property.