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What happens if the insurance company issues a check to you the owner of the vehicle rather than to the body shop or the lienholder and you spend the money thinking it was a refund of the diminished value?
Wiki User
∙ 19y ago
Then you have to pay for the repair.
Wiki User
∙ 19y ago
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Will your insurance company pay you a diminished value if accident is your fault?
No, if it is your fault you are not eligible to received diminished value from your insurance company. It has to be a third party claim, ie the party at fault's insurance company pays the damages if you can recover them.
Who does insurance company write check to from stolen car?
Either to the owner or lienholder depending on if there is a loan on the vehicle and if there is a loan, how much is owned. The lienholder gets paid first.
Do you have to take the insurance company to court to collect the diminished value?
Most diminished value claims are settled out of court, in fact insurance companies have shown that they do not want to take these to court as it could set additional precedence.
What lien information should be sent to the insurance company for a car that was in an accident?
If you have a lienholder on your automobile, the insurance company should already have their name and address listed on the policy. If you never gave them this information, make sure the adjuster knows this when you speak to him/her.
Are sight drafts which require presentation of the vehicle title by the lienholder to the liable insurance company before payment is made to lienholder for a total loss commonly used in the industry?
Yes, they are the only manner of payment allowed in many states for claims payments.
What are diminished value laws in California?
Scott v. Lee, Superior Court, County of San Bernardio, Case Number: CIVBS800544, is that Mercury Insurance Company my not legitimately claim that there is no "diminished value" for a vehicle which has been damaged and repaired. The Superior Court of the State of California has ruled that James and Patricia Scott are entitled to diminished value from Mercury Insurance Company, notwithstanding that their vehicle had been repaired. "Thus, for future claims against Mercury Insurance Company, the doctrine of 'collateral estoppel' should bar Mercury from alleging that a claimant is not entitled to consideration for diminished value in California," says Day. "Furthermore, the denial of such claims on the basis that Californians are not entitled to claim diminished value against Mercury would be subject to a violation of the California Insurance Code and should be reported to the state's insurance commissioner."
How do you get an insurance company to issue check for repairs to just the lien holder if the vehicle has been repossessed?
Talk with the adjuster and explain the situation and I'm sure they will work something out. They may still have to issue the check to you and the lienholder because you are the person who has the contract with the insurance company.
If your vehicle get stolen and the auto insurance pays the blue book value would the gap insurance cover the rest of the payment on your car loan and what is the limit?
When a car is under lien and stolen/wrecked, the first payee is ALWAYS the lienholder. You will receive nothing, and the lienholder gets reimbursed for the value of the car. Any outstanding would be your debt. Most insurers make deals with Lienholders to indemnify and settle up the loan. Not always though. MAKE sure to ask the Insurance company how much was paid to lienholder, and ask for proof too!
Is it legal for an auto insurance company to not allow you to take a car off your policy?
I know that in Canada, the insurance company cannot say you have to keep a car on the policy, it is your choice, however they may notify any lienholder or financial institution that you may owe money for on the car that you have deleted it.
What does Gecio mean?
The word "Gecio" is not a real word. One may be thinking of the auto insurance company Geico, which stands for Government Employees Insurance Company.
Lien holders filed a claim on my insurance after they repossessed my car- They told the insurance company that I was in an accident- The truth is I never was. Is this legal?
What they (probably) told your insurance company is that there was damage to the vehicle when they repossessed it. You should get in touch with the company or your agent and find out how extensive and what kind of damage the lienholder reported. You see, the lienholder might have reported damage you decided you could live with, something you were not aware of, or even something which happened subsequent to them repossessing the vehicle. Find out what the damage is, first...then work on putting together a defense. If it is nothing more than a cracked windshield, it should not effect your future premiums.
Can a vehicle that is without a lienholder be repossessed by a company before a lien is filed?
No
