Does GEICO cut you a check?

Frequently asked questionsWhen a car is totaled, who gets the check?If your car is totaled (and your policy includes comprehensive and collision coverage) youll pay your deductible

Does GEICO cut you a check?

Frequently asked questions

When a car is totaled, who gets the check?

If your car is totaled (and your policy includes comprehensive and collision coverage) youll pay your deductible and then your insurer will pay you the value of your totaled car. Youll probably get whats called the actual cash value, meaning depreciation is factored into your reimbursement. If you still owe money on your car or its a lease, the check may go directly to your lender or lessor, and if the value of your car is less than what you still owe, gap insurance can make up the difference and pay off your loan or lease.

Is it fraud if I dont use the claim money to repair my car?

Laws and regulations regarding car insurance claim checks may vary from state to state. If you lease or finance your car, pocketing the claim money may be considered fraud. However, if you own the car outright and the insurer sends your claims check directly to you (not an auto body shop), then the check is yours and you can use it how you want. Keep in mind that not making necessary repairs to your vehicle may be unsafe (and even illegal depending on the severity of the damage), and claiming the same damage again on a future claim would be considered fraud.

What if the insurance check is less than repairs?

If you dont believe you received the payout that you deserved, contact your insurance claims department. Try to provide as much documentation of the before and after from the damage. You may also want to consider hiring an independent appraiser to get an additional quote for the repairs, which you can then bring to your insurer to help make your case.

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