Home insurance : a question about home insurance

Fatawa Question

Question One] : Aslamu Alykum, I live in USA, where it's usual to have home insurance. I did not know that insurance is Haram until recently. So, I cancelled it. My home insurance covered stollen items like including my wife gold. A year ago my wife wedding ring was stollen. The ring is worth about $2600. The insurance company paid me $ 1500. I paid the insurance company about $ 700 over the period I had the insurance. Is it Halal to keep the $ 1500 I got from the insurance company ? Or should I keep $ 700 (what I paid the company) and return $ 800 to the insurance company ? If the company does not accept the money back then what should I do with the money ? [Question Two] : In my case, I am not sure if the insurance company (saefco) deals with Reba. I would think they do. Do you still think I can keep the $ 1500 if they do. What is the proof (daleel) from quran or suna that support the second view you mentioned below ?

Fatwa

Click hereto view more

Publication Date

2006-04-18

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-788431

• APA
• MLA
• AMA