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Auto Insurance Claims/do i have to fix my car?

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Expert: - 8/4/2008


Question
I was involved in a minor accident and received a payment from the other person's insurance company.  I am currently making payments on my car, so my name and the bank's name are on the check.  Can I choose to not have my car fixed and just keep the money?

Answer
Probably no. The bank will want the money. They will apply it to your bank loan. Either you go this route, or you can have the bank  forward payment to a repair facility only.
The want will want to make sure their collateral is secured (the car is in good working condition).

The insurance company has a clause in all insurance policies that protect lien holders. Your policy has that clause in it ant this is the reason why the insurance company must protect the lien holder.

Good Luck,
Anne

http://www.SpokaneLegalHelp.com

Auto Insurance Claims

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Anne

Expertise

Auto insurance claims regarding vehicle accidents, insurance coverages, auto policies, bodily injury claims, pain and suffering, injury settlements and negotiations.

Experience

I am an adjuster for injury claims and property damage claims for over 5 years (still working there). I have worked for personal injury attorneys helping consumers get a fair treatment and I am passionate to help others with their vehicle accidents.

Education/Credentials
B.A. Economics/ Political Science

Awards and Honors
I was the top settling claims adjuster at the Insurance Company that I worked for.
I am the co writer of http://www.auto-insurance-claim-advice.com a website dedicated to help consumers document their auto claims and navigate the complex claim process.

Past/Present Clients
I work with injury lawyers working on high dollar settlements and jury awards for pain and suffering see: Spokane Law Office.

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