Ernie's Tire Sales & Service v. Riggs

WYNN, Judge.

On 6 January 1987, Richard Joe Riggs’ 1985 BMW was stolen; he reported the theft to the Raleigh Police Department. The residential address of Riggs listed with the Division of Motor Vehicles (DMV) was in Clayton, but Riggs’ address at the time of the theft was actually in Raleigh.

Also at the time of the theft, Lloyds of London, by and through Strickland Insurance Brokers, had $30,000 of insurance coverage on said theft, even though the BMW was valued in excess of $30,000. On 19 March 1987, Riggs submitted a Sworn Statement In Proof of Loss concerning the theft of the BMW, and was…