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Auto Insurance Claims/cashing out insurance claim

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Expert: - 2/23/2009


Question
My car was recently damaged by hail.  I've filed a claim and received a written estimate of the damages.  Is their any reason why i can't just receive a check for the damages minus the deductible.
   Thanks


Answer
Hi Eugene,

If you own the vehicle outright, then you can receive the check in just your name. If you have a loan on the vehicle, your insurance comppany is required to protect the interests of your finance company by issuing the check to you and the finance company or to you and the repair facility. This is so that you can not cash the check and not get the vehicle repaired.

I hope this helps
Richard Hixenbaugh

Auto Insurance Claims

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Richard Hixenbaugh

Expertise

Auto insurance claims procedure, auto coverage, liability issues, auto damage questions, how to deal with the insurance company, loss of use and diminished value.

Experience

I have been involved in the insurance industry for over 25 years. I have experience in underwriting, sales, claims adjusting, auto damage estimating, auto value appraising and diminished value appraising. I have testified as an expert witness over 35 times.

Organizations
Society of Certified Auto Appraisers

Education/Credentials
Completed all required courses for the Florida Property-Casualty agents license and the Florida claims adjusters license. I have attended various courses on auto damage estmating, vehicle appraising and am ASE certified in collision damage analysis.

Past/Present Clients
My company has done work for consumers nationwide.

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