Handling Insurance claim check

Hell yeah !

Active Member
Guys, i need help. Can you give me some ideas on how to cash insurance claim check when the check is written to the lien holder and myself. I am thinking of going through multiple shops to get estimates and send them to my lienholder to sign the check. Any better ideas?

Thanks!
 

Older Chauffeur

Well-Known Member
I haven't heard of this before, as usually if it's your name plus another party the insurance company adds the body shop to make sure the car gets fixed. Maybe you could start by contacting your lender and asking what they need to sign off on the check. I'm going to guess that they will want to inspect the car to confirm that is fixed properly, thereby protecting their interests.
 

Hell yeah !

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  • #3
I haven't heard of this before, as usually if it's your name plus another party the insurance company adds the body shop to make sure the car gets fixed. Maybe you could start by contacting your lender and asking what they need to sign off on the check. I'm going to guess that they will want to inspect the car to confirm that is fixed properly, thereby protecting their interests.
Theres no insurance preferred body shop. They let me choose my choice of body shop. I am wondering what happens if i fix my car and theres still money left off the check
 

Kmiles

Well-Known Member
You would keep it whatever is left. Or deposit it and not fix the damage.

If the damage isn't too bad, I would put it in savings.
 

Weatherdawg

Well-Known Member
That happens with homeowner insurance checks all the time now. You need to contact the bank that the loan is through and talk to them about who you need to contact to get the check endorsed. Once it's endorsed, you're free to do whatever.
 

Muber1

Active Member
There are some cases where you mail your check to the lienholder, they'll sign their piece and send it bac to you. Only then you can deposit at your bank. Thanks granted they'll accep that.
 

Hell yeah !

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Update on my insurance check:

Checks below $7500 will be signed by lienholder and they are gonna send it right back to me in 2 business days, no hassle. They even said i am not obligated to spend that money on repairs, i can do whatever i want. But, checks above 7500 will be monitored carefully and additional documents showing the proof of the repair and cost needs to be sent to the lienholder
 

Trebor

Well-Known Member
You would keep it whatever is left. Or deposit it and not fix the damage.

If the damage isn't too bad, I would put it in savings.
I second this. If the damage isn't too bad, (you still need to fix it or risk getting ticketed by ARA. But there are other means of making damage go away, unless it is really not noticeable to the naked eye. Most scratches they can buff out at a car detailer, rather than repaint it. The smaller ones, you can get touch up paint from autozone, etc.

For bigger damages, look at what needs to be done. A bumper is just a few screws (given the rest of your car isn't bent) you can do this yourself. Grabbing a bumper from the junk yard is a whole lot cheaper.

I have a car that someone t-boned me and ruined my door. I took it to a body shop, they said $900 for a new door, and a bunch of other crap, like painting the car etc. Insurance determined total loss from one door. I bought the car back, replaced the door for $100 (junk yard) , and pocketed about $6,000. Sure its a slightly different shade of black, but who cares. It was a fun weekend project. I had no idea what I was doing, but it worked. (till this day)

Anyways, any extra money, make sure you save it for a rainy day (best case, set it aside for car maintenance)
 

uberist

Well-Known Member
Guys, i need help. Can you give me some ideas on how to cash insurance claim check when the check is written to the lien holder and myself. I am thinking of going through multiple shops to get estimates and send them to my lienholder to sign the check. Any better ideas?

Thanks!
Does the check say your name AND lein holder OR and OR Is key

Your name OR lein holder

AND = both must endorse the check
OR= Either one of you can endorse and cash it.
 

Hell yeah !

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Does the check say your name AND lein holder OR and OR Is key

Your name OR lein holder

AND = both must endorse the check
OR= Either one of you can endorse and cash it.
Already cashed it. It was on my name And lienholder. I had to send them the check and have them signed and returned
 
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