Lost wedding ring 2 yrs ago, ins. pd me, bought new one, now I found old ring. Do I give ring or cash back ?

Question

Claim was with State Farm - do i give them back $4000 cash or the old ring. I don't really want it anymore since I bought a new one with the claim money. Anyone have experience with this before I call the agent? Thanks

Answer 1

You can ask them, but most likely they'd want the cash back.

Answer 2

You would have to pay the money back.

They have no use for the ring.

Answer 3

I think you should!

But it's better to call them and ask, just to get it off your conscience.

Edit: Oh you already are.. sorry misunderstood the question.

Again you should call them. Don't be shy!

Answer 4

i would give them the ring if i was you if you have no use for the ring but the cash will probally come in handy hope this helps

Answer 5

I actually thought it would be give the ring to them.  They paid you for the ring, which makes the ring their property.  You have already used the money to do what the policy states, which is replace the lost item.  I really can't see an insurance company asking for the money back.  They will take the ring and sell it to recoup their loss.  Call your agent of the claims office and find out.

Answer 6

the cash.  and so you  know, you cannot insure it again unless you do pay them back.

Answer 7

I am the LAST person in the world to say keep something that doesn't belong to you...But in this case I say forget it...keep the ring and don't say anything...they won't want the ring...you will have to pay them Back CASH.

Answer 8

You should sell the ring and give the cash back.