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Why did my car insurance send me a check?
If the car insurance claim payment came from your insurance company, you might receive a check written out to you and the approved body shop. Auto insurers tend to issue two-party checks to reduce the chances the funds are used for something other than the intended repair.
What do insurance companies check when you make a claim?
When claiming on your car insurance policy, you’ll need certain information to hand, including:
- Your policy number.
- Your personal details.
- The details of any other parties involved (and their vehicles)
- The date, time, and location of the incident.
- A crime reference number (if applicable)
Can I keep extra money from car insurance claim?
Do you need the money more than the repair? The auto insurer has fulfilled their obligation by making payment on a valid claim, so as long as your policy and state allow it, you can keep the money to use as you choose.
Can a car be repaired for less than the claim check?
If the car can be repaired, the money should be spent getting it fixed. If you manage to get it repaired for less than the claim check, whatever is left over is all yours. If you still have a loan or lease on the vehicle, you are legally required to get it repaired and you could be in serious trouble if you keep the money for yourself.
What happens if you have more than one car insurance claim?
The bad news is that more than one claim may cause your insurer to raise your rates or decide not to renew your policy at the end of your term. Before choosing to file that second or third claim, make sure you are clear on the difference between cancellation and non-renewal, and when your insurer will take each action.
When do I get my auto insurance claim check?
The auto insurance claim check will typically be made out to you if your vehicle is fully paid for. However, to prevent insurance fraud, providers often make the claim check out to you and their approved auto body shop.
Can a car insurance company delay a claim?
However, if an auto insurance company must determine fault, this can result in a delay in you getting your insurance claim check. Realize that this is usually a lengthy process if you wait for the other party to admit wrongdoing. And if you do, that you may be out of a car for a while.