Auto insurance claim check?

[Jake5282]

My vehicle had just been damaged by hail a week ago. I have about $1500 worth of damages. It is very minor and only noticeable if you really look closely. I got a check from my insurance made out to me and ME ONLY. There is no leinholder or bank name on it beside my name. Anyways....do I have to use the check for repairs or can I use it for whatever? When I trade in the vehicle, I will take some loss for it anyways towards the value...so either way, I can get it fixed with the money now or just take a loss later for it right? Can I just deposit the check in my bank and use it toward bills? Can I get in trouble for it? I still owe money on the car too by the way. What can I do?

[mccoyblues]

It's your money and your car. It's up to you whether you fix it or not.

[Magpie]

if you have a leinholder, they are going to want you to fix it.  since the check was made out to you only, either there is no lein, its a small enough amount you owe that they no longer require payment to be made to both of you, or the company made a mistake on not listing them.  if there IS a lein, you should contact them before you just keep the money.  if no lein, then its your choice if you want to repair.  if you do not repair, please note that if you get hail damage again, the company is NOT going to pay for it again.

[QueenB]

If you get the car fixed - you will not take a loss for it when you trade it - especially if you have the repairs done by paint-less dent repair  (a company such as Dent Wizard).



Is the car financed? If yes, then get the car fixed.



If no - then you can do what ever you want with the money and live with the damage. But you will need to drop the comp and collision on the vehicle. If it gets damaged again - the insurance company will not pay for that damage twice.