What happens if the police recover my stolen bikes now that I have already received my insurance payout. Would they keep the bikes or want the money back? (In other words – Do i need to spend it quick-sharp now they’ve nicked the scrote who dunnit – bikes as yet unfound??)

belong to the insurance company. they may want to sell them back to you…

Pretty sure legally they are allowed to keep the bike, but in most cases insurance companies won’t have much use for a used dandyhorse, and will just let you keep it.

Quite happy for them to keep the bikes or sell them to me for a knock-down price – seeing as they have now been handled by verminous oxygen thieves, (referring to the pilferers not the insurance company – M&S, who’ve been very good)!!
Can they ask for their money back as I’m currently eyeing up various options which would take care of the vast majority it?

No they can’t ask for teh money back. Teh recovered bike belongs to the insurance co and you have the money for a replacement bike

Thanks – I’d find it hard to part with the cash now, (unless it was for something new and shiny!)