Insurance checks?

Question

i own a business that was robbed recently. i have already gotten my insurance check to replace my stolen items. they only gave me wholesale cost, so i wasnt able to replace everything....

just today, they found most, but not all of my stuff.

do i have to give back my insurance money?

Answer 1

yep, less any damage, unless you have replaced the stuff, then give the old stuff to the insurance company.  Also.. you need to li

list your equipment at value.. I don't know what equipment your talking about , but you can cover equipment on an inland marine policy, or by just listing it at the actual value.

Answer 2

Yes you will or you will need to give the property back, you would be double indemnified and that would be insurance fraud.  You will still be able to keep enough money to pay for your missing items  work with your agent or adjuster to find out specific details.  Good Luck.

Answer 3

The stolen/recovered items no longer belong to you. The insurance company got ownership of them when they paid you.

So - you either keep the money and not the stolen items.

or

Keep the stolen items and give the money back.

You don't get both.

To keep both - is insurance fraud.