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? again on check from Ins Co. for hail damage.

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    #1

    ? again on check from Ins Co. for hail damage.

    Just received a check from my insurance co. for the damage they estimated for hail damage on my wife's suv. $3800+. Problem is, the ck is made out to me and the hail/dent shop that sent in the original estimate for over $5200 and the ins co. did not like that price so they sent me to an adjuster to get the lower estimate.

    Thing is, I do not want to get the damage fixed, small dents, but a lot of them. I want to deposit the ck and donate this vehicle to my nephew who is in need of a vehicle for a daily driver and due to his disability, he cannot have a vehicle newer than 10 years old. Ours is a 2003 so it would satisfy his disability rules. Am I going to have to get the hail/dent co. to sign the ck so I can deposit it or can I just deposit it myself without the hail/dent co. signature?
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    #2
    Banks not gonna deposit it with their name on it also. Did you have a signed contract from the bodyshop?

    Comment

      #3
      Originally posted by Slew View Post
      Banks not gonna deposit it with their name on it also. Did you have a signed contract from the bodyshop?
      I bet they do.
      When I get official checks from our credit union it includes the payee and my first last name all on the payee line

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        #4
        If you own the vehicle outright (you have the title), you can request the check be reissued with your name as the sole payee. I doubt the shop would be willing to endorse the check for you to cash, they are then on record to the IRS for that amount of income that they would owe tax on.............

        Stu

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          #5
          Just get back with the insurance co. and ask for a cash settlement. If you have a lienholder, they may make it copayble with them; if clear title, not problem. Keep in mind it will be considered prior damage if another loss occurs, but if you give/sell it to your nephew, you'll drop it from your policy anyway.

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            #6
            did that settlement include dimenished value compensation. I believe you are entitled to it.

            Check with Howard or Trrailboss. If you have the title... check should be written to you alone.

            Comment

              #7
              Originally posted by DawgOnIt View Post
              Just get back with the insurance co. and ask for a cash settlement. If you have a lienholder, they may make it copayble with them; if clear title, not problem. Keep in mind it will be considered prior damage if another loss occurs, but if you give/sell it to your nephew, you'll drop it from your policy anyway.


              If there is a lienholder the bank wont release the funds without proof the work has been completed. I just went through this with a roof replacement on my home.

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                #8
                Vehicle is paid for and I have the title.

                Comment

                  #9
                  Seems to me the check should have been made out to you.You have the right to get your vehicle fixed wherever you want.

                  DJ

                  Comment

                    #10
                    Originally posted by DJM View Post
                    Seems to me the check should have been made out to you.You have the right to get your vehicle fixed wherever you want.

                    DJ
                    Correct

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                      #11
                      Have you contacted the insurance company to ask about this?

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