Question

Anshuman had taken a car insurance policy of rupee 300000 from Tata AIG insurance. his car was stolen after completing all the legal formalities, Tata AIG paid the full policy amount to him. however after one year, the police recovered the stolen car. now anshuman wants to sell the car to realise money from it. while Tata AIG claims to have a right over it. state the principle of insurance which is applicable in the given case. also state who has the right over car. ​

Answer 1

Answer:

Usually, once you accept a check from the insurance company for the stolen vehicle, it becomes their property, should it ever be recovered. Depending on the condition, they will usually put it up for sale, in order to recoup what they paid you for insurance.

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