Stolen truck - when get paid?

Your truck has been stolen. You have reported it to the police and to the insurance. How long do you have to wait before the insurance company will give you a cheque?

Fourteen days from the day you report the claim is the standard answer. Now the insurance company considers the vehicle as a write off and will offer you a settlement. When you accept that money you are signing over all rights to that vehicle to the insurance company. If your vehicle turns up a month later then the insurance company owns it. The insurance company has the right to dispose of it as they see fit.

How much will you get for your truck?

Think about what is a fair amount. If the insurance company comes close to that amount and waives any deductible then you likely will accept that offer. If they are way out on the value then you have some homework to do. You need to prove tht your vehicle is worth more then what they think it is. If you have pictures, receipts, print outs from websites for similar vehicles with similar km then you might be able to make a case for a higher value. If this is an older vehicle you might have a vehicle inspection report on file with your agent or broker that can be used to appreciate the value.

Talk to your adjuster about what is the usual procedure for their company. Work with this person to try and achieve a claims fairness what you feel good about.

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