My car was stolen last November. It was recently recovered 2 days ago. My claim was just about through and the vehicle was declared a total loss and I have signed the POA. The only thing missing was the letter of guarantee from the finance company to give to the insurance company, which they are in the process of doing.
The decision remains with the insurer. If it's repairable (cost to repair is 80% of less then it's value) then the insurance company will return it and pay for the repairs. If you have no lien on the vehicle, you can take the money and junk the vehicle.
Not really sure but it sounds like you may owe money on this vehicle and the final outcome (for you) may have to be decided after everything is declared/finished processing. The insurance company will decide which is the best option for them (money wise) and you will have to decide if you wish to accept it or fight it.
The decision probably does lie with the insurer, though it seems to me that the matter is already resolved and it's all over but the shouting. I could imagine under the situation where you recovered it in intact form (doubt it) that they would call it all off, but then you'd have your vehicle back and all is well> But most likely it won't be in great condition and it will be just totaled/impounded.
If the vehicle is, in your opinion, driveable, you would be committing fraud by taking the money. Do the right thing, have the insurance company examiners take a look and re-assess any damage. You might also want to have it thoroughly checked out by a reputable mechanic: if it's not safe to drive, do you really want to drive it?
By defrauding the insurance company you increase the rates we all pay.
Then it's not driveable , so I think maybe you should call around to this's places that will take your vehical and pay you to take your vehical.
if they said it was a total loss. then that is the end of it.
It was declared a total loss before it was found.
