0
If you collect insurance money for cosmetic damage to your car are you lawfully required to fix the car or can you pocket the money?
No There is no law requiring that you repair cosmetic damage to a vehicle. In most states, if not all, you are legally required to use the money issued by an insurance to fix the vehicle. It usually states such somewhere in the insurance paperwork. That said, no one's going to follow up with you to check where the money went. If there is a loan against the car, the lender will insist that the repairs be made OR the loan reduced by paying them the FULL amount of the reduced value. Also, if repairs are not made your insurance will not pay to repair the same parts again, and may be reluctant to pay for any additional damage. Say you just have minor dents in the bumper and one fender but the car is still driveable so you pocket the cash and don't have it repaired. Then you smash the same bumper and fender next week (or next year) but this time it's pushed back and rubbing on the tire so you can't drive it, the insurance company is going to tell you that they've already paid you for those parts.
Add your answer:
Earn +20 pts
If a husband took out an insurance policy on his wife without her knowledge can he still collect on it after they're divorced?
Life insurance, I assume? If you're in the US, and if the premiums have been kept up-to-date, yes, he can collect. He's not required to have her permission to take out the policy nor is he required to be married to her in order to collect on it.
Can you use a certificate of marriage to collect on life insurance?
A certificate of marriage is not required to collect on life insurance. Life insurance proceeds will be paid only to the named beneficiary/beneficiaries on the policy. If all beneficiaries are deceased, then the benefit will be paid to the deceased insured's estate.
How do surviving beneficiaries collect life insurance upon death?
Surviving beneficiaries can collect life insurance by submitting a claim to the insurance company along with the required documentation, such as the death certificate of the policyholder. Once the claim is approved, the beneficiaries will receive the death benefit either as a lump sum or in installments, depending on the policy terms.
Who is eligible to collect life insurance?
The person who is eligible to collect life insurance is the beneficiary. Anybody can be named the beneficiary. There are steps that need to be taken before a person can collect.
If you own a business and are an employee of that business can you collect unemployment when the business goes under?
troughIf you were paying your full National Insurance stamp for the required amount of time then you should be able to.
Can you collect life insurance on someone declared incompetenet?
Probably not unless the insurance company decides to allow it or it was a provision in the life insurance policy. Normally, people are not able to collect on their life insurance policy until the insured dies.
Can I collect maturity amount from insurance company?
Yes you can collect your maturity amount from insurance company. Infact insurance company send you an information in advance to policy holder regarding the maturity of the policy. The policy holder required to fill the form along with documents attached as per requirements. If the paper work is done properly and verified then the payment is either sent by post or directly credited in your bank account.
For cost and insurance incoterm will it be freight prepaid or freight collect?
In cost and insurance it will be ''Freight Collect'' but if party require as '' Freight Prepaid'' then use CIF incoterms.
How do you collect matured child life insurance?
You Don't.
Can you collect claims from your insurance and the other person?
if your accident is severe enough and the other person is underinsured - then you could collect from their insurance (must be their policy limits) and your insurance under the "underinsured coverage" or UIM - Underinsured motorist
Can your brother collect your mothers life insurance with out you?
All life insurance policies specify who the beneficiaries are and what percentage each one gets, so your brother can only collect his portion.
Can the beneficiary collect insurance proceeds if the insured collect illegal rebating from agent?
Though paying rebate to insured by agents is prohibited, that does not hinder in the way of getting insurance proceeds.
