3 years ago I lost my engagement ring. We looked for months for it before even reporting the loss, and it took months (while continuing to look) for the insurance company to do the investigation. The insurance company eventually paid for the replacement and all was fine. Recently, I found the ring. I have moved twice (been divorced even) and found it in some random bag about to go to Good Will- I was looking for loose change, imagine my surprise. Anyway, now what?! Could I be in trouble for insurance fraud? I legitimately lost the ring and my heart sunk when I saw it. I'm afraid to put it up on ebay, or try to sell it for fear it could come back to bite me in the a$$. Is there a Statue of Limitations on a situation like this? I'm no longer with the same insurance company. What do I do? I would rather sell it and get the money, but am scared to.
Please respond only if you have experience/knowledge of this situation. PS- the replacement diamond has already been sold for cash
2007-07-02 10:14:00 · 1 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
The insurance company now legally owns the ring. Contact them and tell them that you found the ring. A lot of detail is not needed. If it has any value (which I suspect is the case since you bothered with insurance) they are going to want it so they can recover their loss. If you keep it or try to sell it then yes, you could be tried for fraud.
In many cases, the statute of limitations would start when you found it, or when you sold it if you did sell it since that is when the fraud began.
2007-07-02 10:23:29 · answer #1 · answered by davidmi711 7 · 0⤊ 0⤋