Hello:
My car be in an happenstance recently (it be rear-ended at a traffic light) & suffered minor body damage.
I required to know if it is possible to ask the insurance company (Farmers) for a cash reimbursement instead of have them pay for the repairs.
QnA
Answers: First, you absolutley enjoy the right to request the check be made directly to you instead of paying for repairs at a body shop.
Secondly, if Farmers is the at-fault party's insurance carrier who is paying for the damages, you can bring the check made out directly to you even if the vehicle is financed since they have no court obligation to your lienholder. If Farmers is YOUR insurance company AND your vehicle is financed, they'll enjoy to put to lienholder's name on it(by law).
And finally, if you own your vehicle outright, it doesn't thing who's paying for it because they can both pay it directly to you.
Sure,
The reimbursement is for the lost advantage of the car contained by essence.
But if you have the vehicle financed, the bank my want it fixed. Plus insurance companies hold been particular to write the check to the bank.
You obligation to read your policy. Some policies give an either/or alternative to the insurer-where they can choose whatever odds they want--it depends on the insurance laws contained by your state. Now, it is also possible that you may elect to take the $ and not fix the mischief, just know that if you do that, and your motor is involved in another fluke, you may be giving the insurance company an "out"--they may say they can't convey where the ripened damage ends and the alien damage begin. So, you are best off have the repair. Yes, but if there's a loan on the car, the check get made payable to the lender. And the insurance company can delete the collision and comp off your coup¨¦, if you don't get it fixed.
My car be in an happenstance recently (it be rear-ended at a traffic light) & suffered minor body damage.
I required to know if it is possible to ask the insurance company (Farmers) for a cash reimbursement instead of have them pay for the repairs.
QnA
Answers: First, you absolutley enjoy the right to request the check be made directly to you instead of paying for repairs at a body shop.
Secondly, if Farmers is the at-fault party's insurance carrier who is paying for the damages, you can bring the check made out directly to you even if the vehicle is financed since they have no court obligation to your lienholder. If Farmers is YOUR insurance company AND your vehicle is financed, they'll enjoy to put to lienholder's name on it(by law).
And finally, if you own your vehicle outright, it doesn't thing who's paying for it because they can both pay it directly to you.
Sure,
The reimbursement is for the lost advantage of the car contained by essence.
But if you have the vehicle financed, the bank my want it fixed. Plus insurance companies hold been particular to write the check to the bank.
You obligation to read your policy. Some policies give an either/or alternative to the insurer-where they can choose whatever odds they want--it depends on the insurance laws contained by your state. Now, it is also possible that you may elect to take the $ and not fix the mischief, just know that if you do that, and your motor is involved in another fluke, you may be giving the insurance company an "out"--they may say they can't convey where the ripened damage ends and the alien damage begin. So, you are best off have the repair. Yes, but if there's a loan on the car, the check get made payable to the lender. And the insurance company can delete the collision and comp off your coup¨¦, if you don't get it fixed.