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Question
On a comprehensive claim check made out to me and the lien holder for hail damage to a camper, can that money be put towards the principal note?
They should not do that unless you tell them to. However they could refuse to sign the check if you don't do the repairs. Most people just want the cash without doing the repairs or adding to the principal. Then again, they could waive the repair requirement if the repairs are for cosmetic damage or under a certain dollar amount.
Now if you just want to pay the principal down and not do the repairs, then just ask them in a phone call if you can do that. If they say yes, ask them to put that in writing to you.
You could also just write on the back of the check "apply to principal" and sign below, mail it to them and see what happens.
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| Comment | Thanks for the info...........very helpful. | ||
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Answers by Expert:
Ron Cercone
Expertise
How to handle automobile total loss claims. I am the president of UClaim.com, which sells 29 different eBooks I have written on how to maximize various types of auto, home and business claims and how to get coverage on denied claims. You may view their tables of contents online. Also available are very specialized eBooks such as on EUO (Examination Under Oath) for example. Also available is an assortment of policy forms used by the most popular insurers. The eBooks have a money back guarantee and currently include personal consultation with Ron Cercone.
Experience
I have been adjusting insurance claims since 1980. 1980 to 1995 adjusting for many insurers (6 years as an independent adjuster with my own company). Currently working as a public adjuster in California, since 1995. I'm one of the few public adjusters who has handled automobile damage and total loss claims.
Organizations
CAPIA (California Association of Public Adjusters).
Education/Credentials
BA 1975 in History and Industrial Arts. Full CV at UClaim.com .
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