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| *Ostroff, Fair and Company>>>Insurance |
Can you collect insurance money if another vehicle hits your car and you still owe money on your vehicle? |
a nieghbor hit my parked car, I am getting an estimate for the damage, will the other insurance cut me a check even if there is a lein on my car Yes, you can collect money, but the check will not be made out to just you. If there is a lien, then usually the check is jointly made out to BOTH you and the lienholder. However, you have the right to return that check and ask the insurer to make it out only to you directly. Even though they send you a two party check, you still have the right to demand a check made out solely to you (this is because the obligation to pay the loan back is between you and the lender...not you and the insurer....so the insurer has no legal right to attempt to force you to ensure paying back the loan.....that's for the lender to do). yes they will If your car isn't totaled and its just damage that was done then yes you should get the check. The car is yours to fix. Yes Love always, Kortnei If the other party had libality Ins.and it was his fault you can . Some companies want or require a police report to be filed . While others will take both your word for it. Most companies dont pay you cash directly , they pay the shop that fixes your auto.some do pay directly , depending upon their companys policy [ This is true unless things have changed since my retirement from the Ins industry} If they are doing their job correctly they should write the check to you and your lienholder or directly to the bodyshop. You have to get your car fixed since you do not own it outright |
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