Stolen Guns & Insurance Ethics

[UThomas]

Ok, so I posted on here a few weeks ago that my apartment got broken into and I had among other things 3 guns stolen (works eblade and 2 1997 splashed evolution autocockers). So insurance wound through and I had to quote replacement cost (no depreciation). That is something like $1k for the e-blade, $1350 x 2 for the two evolutions, $345 for the max flo, $100 for the freak kit.

Now the trick is, insurance OK'd everything on the quotes, but the govt mandates that for "sporting good" settlements, 50% of the replacement costs get withheld until the items are actually replaced and the receipt is sent in.

Now my thought is, I don't need 3 $1k+ guns (I didn't before, and was trying to sell 1). So my question is, would this scenario be ethical, and if not, why?

-Buy guns from smart parts, get insurance money reimbursed 100%, and then sell them (or return them for a full refund).

This is legal, but my friends are conflicted on whether it is ethical. My thought is I'll be loosing $2k in value on the settlement if I don't buy the guns, but I don't really want 3 uber guns. My friend says that it would be disenginuous with the insurance if I did that. But they are paying me 100% cash for all my software (> $2k) and not withholding cash unitl I replace it so I don't see what the deal is.

Thoughts?

[Thordic]

Buy the guns, then sell them if you want. Its pointless to pay insurance money if you aren't going to use the insurance when you need it.

If you don't do it, it is YOUR money you are giving up, not theirs.

[RRfireblade]

Simple. Replace all the guns that were stolen.

That's where you were before the break in and what the insurance is there to do.

[robdamanii]

Originally posted by Thordic
Buy the guns, then sell them if you want. Its pointless to pay insurance money if you aren't going to use the insurance when you need it.

If you don't do it, it is YOUR money you are giving up, not theirs.

This is my thought exactly. Wether or not you were trying to sell one of the markers, you still owned them, and they still had a cash value to them. You would be totally within reasonable ethical standards to purchase 3 comparable markers, and then sell one if you wanted. Why? Because it puts you right back in the situation you were origionally in; having 3 markers, trying to sell one.

If you don't purchase those 3 markers, and don't get the full 100% coverage, then it would be like giving away one of your Evo cockers.

Or you could think of it this way...if you got all your markers back from the theives, you'd still want to sell one. Same situation, just a different way of looking at it.

[UThomas]

What about specifically replacing them, getting 100% payment, and then returning them?

[robdamanii]

I'd say go for it. You were trying to sell one of them origionally. I assume you'd get the full value out of it, so it would be much the same as selling your beloved missing cocker.

At least in my eyes, that's how I take it.

[ShooterJM]

Originally posted by UThomas
What about specifically replacing them, getting 100% payment, and then returning them?

I see ZERO problem with that. That's what I'd do.

[Halliday]

Buy them, and do what you want with them. That is exactly where you were before the break in. They were your and you could do what you please with them.

You have paid for the insurance, and they will put you back to where you were financially before the break in.

I doubt you'll be able to return them brand new for a full refund. You'll probally have to send in the original recipt to the insurance and I be the store/shop won't accept a photocopied reciept for returns.....

[TheTramp]

I agree with everyone else.

How could it be unethical for the insurance company to replace the items that were stolen from you? If I had a helicopter (which I can neither use or fly) and it was stolen do you think I wouldn't have the insurance company relace it just becase I'm not a pilot? Of course not.

I've got three tournament level markers right now and really only ever need/use my E-Mag. I absolutly would have them all repaced if stolen. Think of it as simply three pials of cash. Why else would you pay for homeowners insurance?

[hitech]

[FallNAngel]

I agree with what everyone said. You're not trying to make more money off the deal, just get back where you were... which is what insurance is for.

[cledford]

You need to keep in mind that the insurance company isn't insuring the "value" of the items, but the items themselves. Say you bought "X" marker at MSRP for $1000 and they could get it for you for $700 - they would typically obtain the marker for you and not provide the extra $300 for "profit." The policies usually only read "replace with like value item." That's why inflated appraisals are such a rip-off - for you. You get an inflated appraisal for something, the insurance company charges you a premium based on that. It goes missing (say a diamond ring) they have to replace it with a diamond with the exact same qualities, but they probably will pay 1/2 of what you would on the open market. *If* they let you cash out, you'll only get what it would cost them, not you to replace the item. This a common misunderstanding by consumers who, upon realizing the scam, get quite upset. On the other hand, it keeps a handle (to a certain extent) on fraud, keeping our premiums down.

-Calvin

[cphilip]

Buy em... sell em. Once you bought them they are yours anyway. And you could have sold them at any time had they not been stolen. Why should your loss now limit your choices and property rights? There is not a thing unethical about this. Don't give it another thought.

Are you sure its "The Government" that says this? I never heard such a thing...

[skife]

my advice... take 'em for all your worth

You pay for insurance right?
You'll probably never have to use it again.. so you should just aswell get your money's worth now


just my opinoin

[Cryer]

Ethically speaking, your money, do with it what you will. Just make sure you get it back. If buying the 3 markers is the only way, then buy them. If they let you return the markers after the receipts have been handed in, do it, and spend your money on what you want (or need...?)

Given the opportunity to take reimbursment over resale, thats what I'd do. And I'm one the more ethical people here. (Or atleast I'd like to think I am ) I dont see anything wrong with that, personally.

EDIT- If nothing else, buy them, dont touch them (dont even take the shrink wrap off the boxes or whatever), and sell them for as much as you can.

But I'd return them and get a full refund