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Question
Hello. I hit a deer and reported it to the insurance company. They wrote an estimate and cut a check for the damages minus the deductible. My car is currently financed so they included my name and the finance company's name on the check. After contacting the finance company I was told that I would have to sign the check and send it to them and they would pay ONLY what my deductible did not cover. I did some research of my own and found a shop that could repair my truck without having to pay out the whole deductible. My question is are the finance companies allowed to keep that money? Why shouldn't I be able to pay the deductible to the insurance company and they pay the shop or write a check to the shop?
If the insurance company has paid to have the work completed per their estimate, then any changes in that repair for the purpose of saving the customer from paying a deductible is considered insurance fraud. This is a felony in most states. If a body shop is in the habit of conducting business in this manner then do you really want them working on your car?
When you purchased insurance, you agreed to accept the deductible amount in exchange for a particular rate and coverage. You can have a lower or no deductible at all if you are willing to pay a higher premium. As it sounds like the insurance company has fulfilled their end of the contract, shouldn't you do the same?
The finance company has an insurable interest in the vehicle. The insurance company has paid to have it repaired properly and the finance company has every right to either the proper repair or the money for such a repair.
Good luck and I hope you make the right decision.
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 1 | Politeness = 4 |
| Comment | My question was not answered. I was lectured on something I know full well not to try. I never tried to scam my insurance company. As I noted in the email, I would like to pay the insurance company a deductible and have them pay the remainder versus paying me a check with the finance company's name on it. Thank you anyways for the response. | ||
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Answers by Expert:
webfoot
Expertise
Auto damage, liability, insurance fraud. I am a full time auto insurance adjuster with experience in collision, theft, liability and fraud investigation. I am also an ASE Master Auto Tech and I-Car Collision Platinum certified. My experience includes 15 years in the auto repair industry, a B.S. in Criminal Justice, Law enforcement and auto insurance. ****** NO "PRIVATE" QUESTIONS WILL BE ANSWERED. I HAVE FOUND THAT NEARLY ALL PRIVATE QUESTIONS COME FROM PEOPLE WHO ARE CONSIDERING OR ATTEMPTING TO COMMIT FELONY INSURANCE FRAUD AND I'M NOT HERE TO HELP YOU! ****** I AM HERE TO ANSWER AUTOMOTIVE REPAIR, CLAIMS PROCESS AND SOME SIMPLE LIABILITY QUESTIONS. I CANNOT ADDRESS COMPLEX LIABILITY SCENARIOS WITHOUT HAVING ALL OF THE INFO FROM BOTH SIDES IN FRONT OF ME. QUESTIONS ABOUT PREMIUMS OR HOW INSURANCE IS RATED SHOULD BE ADDRESSED TO YOUR PERSONAL INSURANCE AGENT WHO KNOWS A WHOLE LOT MORE ABOUT YOUR HISTORY THAN I DO. I'VE NEVER SOLD INSURANCE AND DO NOT KNOW IF YOUR INDIVIDUAL INSURANCE RATES WILL GO UP IF YOU MAKE A CLAIM. THOUGH I'VE HANDLED SOME VERY MINOR SOFT TISSUE INJURY SETTLEMENTS, I PREFER NOT TO ANSWER INJURY RELATED QUESTIONS. I'M NO INJURY EXPERT AND I'LL LIKELY SAY SOMETHING TO HURT SOMEONE'S FEELINGS AS I BELIEVE THAT MANY SOFT TISSUE PAIN AND SUFFERING CLAIMS ARE OVER DRAMATIZED. UNLIKE MANY OTHERS, I AM ON THIS FORUM AS A VOLUNTEER WITH NO PRODUCTS OR SERVICES TO SELL AND PROMISE AN UPFRONT ANSWER BASED ON MY EXPERIENCE IN BOTH SIDES OF THE INDUSTRY. IF YOU PROVIDE ME WITH A HONEST VERSION OF EVENTS, I PROMISE A CANDID AND HONEST ANSWER IN RETURN. I CANNOT ADDRESS ALL CLAIM SCENERIOS DUE TO DIFFERING STATE LAWS AND REGULATIONS, BUT WILL DO MY BEST. PLEASE REMEMBER THAT AN HONEST ANSWER MAY BE ONE THAT YOU DON'T LIKE SO IF THAT IS GOING TO BE A PROBLEM, PLEASE DON'T ASK THE QUESTION. LASTLY, I DO NOT ACCEPT RATINGS AS I DON'T DO THIS FOR RATINGS AND WISH TO SPEAK FREELY.
Experience
20 years in automotive industry, Currently in insurance claims, worked actively as technician and shop owner until about 10 years ago. Current ASE Master Auto Tech and I-Car Platinum Collision Certifications, B.S. Criminal Justice and 10 year auto insurance/extended warranty background
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