My friend's car was stolen about a month and a half ago. To my knowledge, if the car isn't recovered withing 30 days, the insurance company issues the payment. In this case the payment should have been made about a week or 2 ago. However, he's telling me that now they've found his car. My question is, what is he entitled to now? I'm assuming he should be given the money for it, but can he also buy back the car from the company? How exactly does this whole process work? Obviously the car has most likely been beaten by the scumbags who stole it so will he be able to buy it back for less? Is this similar to when a car is totaled? Sorry for the OT but I wasn't sure who else to ask and I don't want to see him get screwed over by his insurance company. Thanks.

 

I had a motorcycle (SV650) that was stolen in '99 and was recovered after the 30 day period. The insurance co did not issue a payment for the bike but rather gave the bike back to me along with a check to cover the damaged/missing parts.

I'm not sure if there's a set policy regarding this or whether it differs between insurance co's/states but if your friend's car's condition isn't "up to par" the insurance co might just declare it a loss and give your friend a check. He could buy it back at the salvage auction but he should talk to the insurance co before doing that.