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Is it illegal to keep insurance claim money?
Yes, it is illegal to keep insurance claim money that is not rightfully yours. It is important to use the money for its intended purpose, such as repairing damages or covering expenses related to the insurance claim.
Can you keep insurance claim money for roof repairs?
No, insurance claim money for roof repairs should be used to repair the roof as intended by the insurance policy. Keeping the money for other purposes may be considered insurance fraud.
What do you do with the leftover money from a home insurance claim?
keep it. You never know when you might need it.
If I were in an accident and the other driver is faulted there insurance provider has paid the claim do I need to have the auto repair done or can I keep the money?
You can keep the money. You don't have to repair the car.
If insurance declares a car totaled can you cancel the claim and keep the car?
You can accept the claim and then buy back the car. This way you get money for the claim and you get to keep your car. The price for the car will be way lower at the totaled price than what you will receive in the claim.
What do you do if there is money left over after you pay the body shop for repairing your car after an insurance claim?
You get to keep the money you have left over after paying the body shop. It is considered part of your insurance settlement.
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.
If you get your claim money for damages to your house from the insurance company and find a contractor to do the work for less can you keep the extra money from the claim?
Yes, you can keep the extra money you saved by finding a contractor to do the work cheaper than what the insurance company estimated. The insurance company prepared an estimate of the damage. If you could not find a contractor to do the work for what the insurance company estimated, you could ask them for more money. If they chose to pay you for the damage before it was fixed, they cannot ask for it back if you got the work done cheaper.
Can a mortgage company keep the unused portion of insurance claim money when the job is completed and inspected in tennesse?
No. It would have to be sent back to the insurance company if they paid too much.
If a claim is filed for hail damage and a check received do you have to repair the vehicle or cna you pocket the money?
It depends on the insurance companies' policies. If they declared the vehicle a total loss you can do what you wish with the money. If they simply gave you a check and told you to take it to a shop of your choosing you can also keep the money as well. If they make a two-party check requiring a body shop signature and yours, then you have to take it to a shop.
How many years do you keep insurance claim for medicare patient?
7
Can you keep your hail damage car if the value of the car is less then the hail damage?
yes, but insurance normally will just say it is totaled and write you a check for the value of a car. its cheaper
