I posted this in the JTT thread but I was wondering if anyone can answer this question for me. Long story short, my car was backed into, Filed a claim, they ruled in my favor. Today I got my estimate and it was $3,500. Honestly my car runs perfect, there is just outterior damage. Car is worth $3,400 ish kelley blue book value. I own the car and do not make payments, but I was wondering, does the insurance company send me the check to get my car fix, or do they give it to the play I got my estimate. And 2nd, if they do send me the check, do I have to get my car fixed? I rather use the money to pay bills
To quote JG wentworth "It's your money" [video=youtube;q2uWLitZ8Rs]http://www.youtube.com/watch?v=q2uWLitZ8Rs[/video]
different insurance companies different answers. Though once you get the money (and they will never give you more than the blue book value total) you do NOT have to get it fixed. The theory is you lost X in value, we will reimburse you X, thus you are "even".
Yeah seriously. I was pissed when it happen but if I can get the money for y car without actually losing a car I'll take it. I can careless about te side of my car, and it's not actually that bad. I may still get t fixed for cheap but I much rather get the $3000 for it. Help me get out of some debt
Same thing happend to me, I ended up using the cash else where because the damage wasnt too bad at all. Funny thing is it really worked out for me because long after I spent the insurance money another person hit me in the same area. His insurance paid for the whole thing to be fixed. So I got the initial damage fixed as well, ended up being a win win.
Got a call today, they wanted to give me $4000 for my car, or $3500 if I kept the car, since it was only EXTERIOR damaged, I obviously took the $3500 deal. I have to get it salvaged and get it inspected and do some paper work with the DMV to get it back on the road legally if I accept the deal, I am going to call tomorrow and try to get them to pay for a rental since I need to get to work still
Just keep in mind, they will have now paid for a "totaled" car. Make sure what your insurance covers on you from this point forward.
