Should You Keep Your Car Insurance Claim Money in Everett?

car insurance claim moneyConsider this scenario: you were in an car accident. You went through the process with your insurance company, put in a claim, and received a check in the mail. Can you keep the car insurance claim money, or do you have to spend it on car repairs?

You May Keep the Car Insurance Claim Money (Usually)

In most cases, the insurance policy doesn’t require you to spend the claim money repairing your vehicle. The insurance company has no stake in whether you repair your car or spend the money elsewhere. That is, unless you have a loan on your car. In this case, the lender may include provisions in your borrowing agreement requiring you to spend the settlement check on repairs. This helps guarantee the car will be in normal condition in the event you default on the loan and the lender repossesses it.

Know the Nature of the Damage

Bring your vehicle to Absolute Auto Body so we can assess the damage. You definitely need to repair the vehicle if damages affect the car’s operation. This includes damages to vital parts, such as the tires, wheel bearings, suspension, cooling system, or seat belts. If damages are limited to auto paint or other cosmetic blemishes, then you may choose to hold onto the car insurance claim money.

We’ll Assess Your Vehicle in Everett

Always know the extent of damage before deciding what to do with the claim money. Should you decide to proceed with repairs, our service comes with a VisionPLUS Lifetime Warranty. When you want a professional opinion regarding whether to keep the car insurance claim money or have your vehicle repaired, contact our collision repair pros.

Car Insurance Claim Money: Assessment and Collision Repairs in Everett

Two locations to serve you: Everett and Lynnwood

Posted on December 7, 2020 | Published by Ignite Local | Related Local Business