0
If an insurance company pays a claim and the work or the parts used end up being less expensive than the paid claim who gets the excess money?
Wiki User
∙ 14y ago
- You get the amount of money that the job was estimated at. If there is excess money left over, that's yours.
- In cases where the shop bills the insurance company directly, though, there is no excess; insurance pays what the shop bills.
- In the UK you are compensated following an accident - compensation means putting you back into the position that you were prior to the accident happening. If your vehicle was damaged in a RTA and you are claiming from the guilty driver's insurer you are paid the estimated cost of repair or the book value for the vehicle if it is written off. If you choose not to spend this money on repairing your vehicle or use a cheaper source to repair your vehicle - this is a matter for you. But you must remember that inferior repairs will likely mean your vehicle is valued far less so you are not really making excess money. If this question relates to other items claimed from the driver's At Fault insurer - use the link below to see what you are entitled to claim to compensate you.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Where can someone find cheap taxi insurance?
Disclosing if one has had a company car before to the tax insurance company can help with the premium, working for executives or being a chauffeur is generally a lot less expensive for taxi insurance, some give a discount when owning a home as well as being married.
Is there a good insurance company that has the best options for motor car insurance without being really expensive and has multiple car discount?
There are many insurance companies that offer a variety of options for car insurance. Prices vary depending upon location, type of cars and drivers.
How much more expensive is commercial auto insurance than personal auto insurance?
It varies widely but generally it is less expensive to go with personal. Not many insurance company's will let you register your personal car under commercial auto unless it iv being used in a business. Progressive is the only one i can think of off the top of my head that would allow it.
Can you switch your deductible to 100 before repairs then back to 1000 after the work is done?
Is this what we would call in the UK 'voluntary excess' on an insurance policy? Your insurance company may allow you to change your excess mid-term but you will probably have to pay an 'additional premium' as you will most likely have received a discount when you took the insurance policy out for choosing a higher excess in the first place. Your insurer may get suspicious if you do this then immediately make a claim or they discover that an accident for which you are making a claim took place before you requested a change in your excess. This may result in your claim being rejected. Carefully consider the excess or deductible when you choose your insurance policy. If you choose a higher excess at the start to obtain a discount on your policy then you should be prepared to pay out in the event of a claim. CQ
What kinds of circumstances are covered by excess liability insurance?
Excess liability insurance gives you extra asset protection beyond your basic policy. It can help in the event of being sued by someone due to injury or negligence in your home or anywhere else.
What benefits would one derive from being the owner of car insurance?
The benefits about being the owner of car insurance is a lot of people buy car insurance that they get paid for. Cost of Insurance for a luxury car would be expensive and they get a lot of money.
Who is responsible for damage to car when being towed by company car?
towing company should have insurance
Why do I need my own coverage if I also have company vehicle insurance?
The companies insurance will protect them from being sued but not you.
Where is the company Swiftcover car insurance headquartered?
Swiftcover car insurance company is headquartered in Surrey, England. Swiftcover's claim to fame is being the only 100% online car insurance company, although they do have three call centers.
Is car insurance more expensive if the car does not have airbags?
If your car does not have air bags, yes - your insurance will be more expensive, all other things being equal. To put it simply: If you have air bags, that's a discount.
Can a health insurances deny you if you are gay?
No health insurance company denies anyone health insurance for being gay.
How does an insurance company define vacancy?
Most often by being unoccupied for 30 days. But you should refer to your Homeowners Insurance policy as this may very by company and or by state.
