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You live in PA do you have to use the money you received from an insurance company to repair your car?
Wiki User
∙ 18y ago
No. If you don't use the money to repair your car and get into another accident or damage occurs some other way, you may not get reimbursed the 2nd time because a mechanic would be unable to tell which damage was old and new.
Wiki User
∙ 18y ago
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How long can a insurance company request refunds?
If you received money that you were not entitled to and you deposited the insurance check into your bank account and the money was a payout from an insurance claim, the insurance company can swipe the money out of your account without your prior knowledge for up to 3 years. If you received money as a result of a criminal act, the statute of limitations for that crime would guide the insurance company's timeline.
In insurance settlement do you have to get the car repaired or can you keep the money?
The Insurance Company is required to indemnify you for your loss. It's your business if you decide to repair the vehicle or use the money in some other way. So, No, you don't have to repair the car and Yes, you can keep the money.
Can i choose the accident repair company if the accident is other driver's fault?
There are a couple considerations:Yes you can if:The shop you chose is not baned by the paying insurance companyThe insurance company approves the repairing shopThey repairing shop will do the work for the money provided by the insurance companyORYou are willing to pay the remaining amount the insurance company wont cover. I have done this to get a shop I trusted but wanted "To Much Money" for the repair.
Is insurance a waste of money?
this depends. if you say have an accident with your car and it is your fault you will have to repair your car and repair another car that you may of hit. however it you buy insurance from an insurance company then the company pays for it.but there are many different types of insurance so i would recommend a company like ISelect which asks you a phew question about the insurance you want and they choose the best insurance deal for you.
Do I have to repair my car with an insurance check?
No, you can spend that check anyway you like. It's your money. The insurance company doesn't care if you repair your car or not. You could decide you will take the train to work, it is your business.
If I am in an accident and the other driver has no insurance and my insurance provider has paid my claim do you need to have the auto repair done or can you keep the money?
The money is for an autorepair. I would recomend using it for that, or the insurance company can possibly charge you with intent to defraud.
Can you use the money from the insurance company to buy a new equipment instead of fixing it?
You are not obligated to spend your auto insurance settlement claim check on a particular kind of repair. In fact, after payout, the auto insurance company has no legal ability to control or restrict how you spend your settlement money.
What is the statute of limitations that an insurance company can ask for a re-imbursement for an overpayment of a claim on a HOA community?
The community received more money than the claim as the membership was able to repair some of the damages instead of using outside contractotrs. This took place 3 years ago. Does the insurance company have the right to request the overage be returned to them??
What is an adjuster?
An insurance claims adjuster is a person who decides how much money their company is going to give you for your loss.AnswerAn insurance claims adjuster is a person who coordinates damage reports, loss and damage repair estimates to assist the insurance company in determining the monetary value or repair cost of your loss.
What is Money Supermarket Insurance?
Money Supermarket is a name of a company that provides car insurance, health insurance, travel insurance, home insurance, business insurance and many more. Money Supermarket company was founded in 1993.
Do you have to have buldings insurance on a mortgaged property by law?
I doubt that the law requires it, but your mortgage company certainly does - if your house is damaged beyond repair and you depart, the company will want the means to get its money back.
What does an insurance company owe if you have a damaged car you can fix yourself?
An insurance company would owe you what it would cost to have a mechanic/body shop repair the car. You have the option to keep the money or pay to get it repaired. If you are talking about your own insurance company then your deductible would come out of any amount paid if you have full coverage.
