SmokeyJoe
Sorry it took a while to respond. Work got in the way.
I confirmed with my wife, who works in the insurance industry, that most policies state that if you are paid for any item that is lost or stolen, and that item is later recovered, at that point it belongs to the insurance company.
Here's the tricky part, that burns my butt. Some companies are willing to negotiate with a property owner to allow recovery of the item (firearm) for cost, meaning you return what they paid, you get your gun. However, and this will come as no surprise to all of you, many companies are not so inclined. My buddy who runs the lab and firearms lab/property room for a local police department told me that most insurance companies do not wish to recover the firearm, and if contacted about a recovered gun for which payment has been made, they will direct the recovering law enforcement agency to destroy the gun, regardless fo what it is. With real sadness in his voice, he told me of the many valuable firearms he's seen cut in half, then melted down, for this reason, including a genuine WWII Luger in excellent condition.
Lessons to be learned: 1. Ask your insurance agent about your company's policy and procedure on this point before you are in the situation, and make an informed decision on whether you want that company collecting your premiums. 2. SECURE YOUR GUNS!
