diff --git a/exposed-core/src/main/kotlin/org/jetbrains/exposed/sql/statements/InsertStatement.kt b/exposed-core/src/main/kotlin/org/jetbrains/exposed/sql/statements/InsertStatement.kt
index 51bfd17ff5..6cbeda99f6 100644
--- a/exposed-core/src/main/kotlin/org/jetbrains/exposed/sql/statements/InsertStatement.kt
+++ b/exposed-core/src/main/kotlin/org/jetbrains/exposed/sql/statements/InsertStatement.kt
@@ -70,7 +70,9 @@ open class InsertStatement<Key : Any>(
             if (firstAutoIncColumn != null || returnedColumns.isNotEmpty()) {
                 while (rs?.next() == true) {
                     try {
-                        val returnedValues = returnedColumns.associateTo(mutableMapOf()) { it.first to rs.getObject(it.second) }
+                        val returnedValues = returnedColumns.associateTo(mutableMapOf()) {
+                            it.first to it.first.columnType.readObject(rs, it.second)
+                        }
                         if (returnedValues.isEmpty() && firstAutoIncColumn != null) {
                             returnedValues[firstAutoIncColumn] = rs.getObject(1)
                         }
diff --git a/exposed-java-time/src/test/kotlin/org/jetbrains/exposed/DefaultsTest.kt b/exposed-java-time/src/test/kotlin/org/jetbrains/exposed/DefaultsTest.kt
index 0f65656c4d..94765248b6 100644
--- a/exposed-java-time/src/test/kotlin/org/jetbrains/exposed/DefaultsTest.kt
+++ b/exposed-java-time/src/test/kotlin/org/jetbrains/exposed/DefaultsTest.kt
@@ -1,5 +1,7 @@
 package org.jetbrains.exposed
 
+import org.jetbrains.exposed.dao.Entity
+import org.jetbrains.exposed.dao.EntityClass
 import org.jetbrains.exposed.dao.IntEntity
 import org.jetbrains.exposed.dao.IntEntityClass
 import org.jetbrains.exposed.dao.flushCache
@@ -32,6 +34,10 @@ import kotlin.test.assertEquals
 import kotlin.test.assertNotNull
 import kotlin.test.assertTrue
 
+
+private val dbTimestampNow: CustomFunction<OffsetDateTime>
+    get() = object : CustomFunction<OffsetDateTime>("now", JavaOffsetDateTimeColumnType()) {}
+
 class DefaultsTest : DatabaseTestsBase() {
     object TableWithDBDefault : IntIdTable() {
         var cIndex = 0
@@ -555,4 +561,38 @@ class DefaultsTest : DatabaseTestsBase() {
             assertEquals(0, statements.size)
         }
     }
+
+    object DefaultTimestampTable : IntIdTable("test_table") {
+        val timestamp: Column<OffsetDateTime> =
+            timestampWithTimeZone("timestamp").defaultExpression(dbTimestampNow)
+    }
+
+    class DefaultTimestampEntity(id: EntityID<Int>) : Entity<Int>(id) {
+        companion object : EntityClass<Int, DefaultTimestampEntity>(DefaultTimestampTable)
+
+        var timestamp: OffsetDateTime by DefaultTimestampTable.timestamp
+    }
+
+    @Test
+    fun testCustomDefaultTimestampFunctionWithEntity() {
+        withTables(excludeSettings = TestDB.ALL - TestDB.ALL_POSTGRES - TestDB.MYSQL_V8 - TestDB.ALL_H2, DefaultTimestampTable) {
+            val entity = DefaultTimestampEntity.new {}
+
+            val timestamp = DefaultTimestampTable.selectAll().first()[DefaultTimestampTable.timestamp]
+
+            assertEquals(timestamp, entity.timestamp)
+        }
+    }
+
+    @Test
+    fun testCustomDefaultTimestampFunctionWithInsertStatement() {
+        // Only Postgres allows to get timestamp values directly from the insert statement due to implicit 'returning *'
+        withTables(excludeSettings = TestDB.ALL - TestDB.ALL_POSTGRES, DefaultTimestampTable) {
+            val entity = DefaultTimestampTable.insert { }
+
+            val timestamp = DefaultTimestampTable.selectAll().first()[DefaultTimestampTable.timestamp]
+
+            assertEquals(timestamp, entity[DefaultTimestampTable.timestamp])
+        }
+    }
 }