Legal Question in Insurance Law in Nevada

Several High denomination poker chips were stolen and homeowners insurance will

My brother recently had several high denomination poker chips stolen during a home break-in. His homeowners insurance refuses to reimburse him for the loss ($25,000.00). Their position is that the chips were ''cash'' and the policy only covers cash losses to a maximum of $500.00. He feels that the chips were not ''cash'' as they could not be spent anywhere, and could only be redeemed for cash at the casino where they were purchased. My brother does not think he will be successful in appealing the insurers decision on his own.

Would legal representation help him collect on this loss?


Asked on 11/28/04, 8:21 pm

2 Answers from Attorneys

James Smith James E. Smith Ltd.

Re: Several High denomination poker chips were stolen and homeowners insurance w

He should probably consult with an insurance attorney. If not specifically included as cash the insurance company cannot arbitrarily declare chips cash. However, proof of loss is difficult with chips.

Read more
Answered on 11/29/04, 1:33 am
Joel Selik www.SelikLaw.com

Re: Several High denomination poker chips were stolen and homeowners insurance w

Should hire an attorney to determine if chips can be considered non-cash.

JOEL SELIK

Attorney at Law

800-894-2889

760-479-1515

702-243-1930

Licensed to Practice Law in California and Nevada Only

CA Licensed Real Estate Broker

CONCENTRATING IN REAL ESTATE, ELDER ABUSE, LITIGATION AND COLLECTIONS

Personal Injury, Contracts, Tax Matters, Business,

Malpractice, Appeals, Elder Neglect/Abuse/Nursing Home Malpractice

Real Estate, and Other Legal Matters

This is just general information. No representations are made and no attorney client relationship is established by this communication. In most matters there are strict time limitations within which actions may be taken or your rights will be compromised. We are not taking any action on your matter and will not be considered your attorney or tax representative until both you and we have signed a fee agreement.

We, therefore will take no action on your behalf unless a written retainer agreement is signed. There are strict deadlines, called statutes of limitation, within which claims or lawsuits must be filed. Therefore, if you do not retain SELIKLAW, you should immediately seek the services of another attorney or other advisor.

If you send a lawyer or law firm email, your email will not create an attorney-client relationship and will not necessarily be treated as privileged or confidential. You should not send sensitive or confidential information via email. The lawyer or law firm to whom you are writing may not choose to accept you as a client. Moreover, as the Internet is not necessarily a secure environment it is possible that your email sent via the Internet might be intercepted and read by third parties.

Read more
Answered on 11/29/04, 9:17 am


Related Questions & Answers

More Insurance Law questions and answers in Nevada