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Any limitations regarding claim settlement of Total Loss on recovered stolen vehicle?

by Anika

My vehicle was stolen from the ER parking lot at a local Hospital. I parked it at approx. at 2 am when attempting to leave at 5 am truck was gone. I attempted to file police report at 5a but didn't know my tag number and police could not find registration based on VIN provided by Insurance Co proof of Financial Liability Card. I did find my tag number and was able to file report at 8a. I filed claim with Ins Co.

My vehicle was found either that day or the next. The vehicle didn't seem to be a total loss at first glance. I had it towed to one of the Ins Company's preferred repair sites and had them evaluate possible damage. It turns out internal damage totaled vehicle.

I am still in rental but it runs out soon. I've asked about settlement amount but was told it is still being investigated because vehicle was involved in a crime. Is there a statute of limitation, limiting the amount of time they can keep this claim open?

It was the only vehicle I had and it was paid in full, I have the title. Any info on this type of situation is appreciated.

Answer to Any limitations regarding claim settlement of Total Loss on recovered Stolen Vehicle?

Hello Anika

Well, there is a statute of limitation for you to file a lawsuit, but not for them to actually keep a claim open.

Insurance companies have a "reasonable time" to conduct an adequate investigation. Reasonable time varies, but it seems that the standard time is thirty days. This may not give you much comfort as you have to figure out what to have a drivable vehicle.

It is a good idea to talk to a local attorney about the total loss process and see if there is a way to commit the insurance company to payments during the time of the investigation. It is unlikely, but you lose nothing by asking.

Good Luck
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