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Discussion Starter · #1 ·
So, I'm having my car worked on by specialty car craft. Of course, the estimate is probably rounded up slightly higher than what may be needed so I was wondering what happens to the remaining funds, if there are any?

Does the unused money go back to the insurance company? Does the shop keep it?

Do I get a check for the remaining amount?

anyone have any experience with this?

-Ken
 

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So, I'm having my car worked on by specialty car craft. Of course, the estimate is probably rounded up slightly higher than what may be needed so I was wondering what happens to the remaining funds, if there are any?

Does the unused money go back to the insurance company? Does the shop keep it?

Do I get a check for the remaining amount?

anyone have any experience with this?

-Ken
Depends on the details of your policy and your state regulations.

Generally, estimate is given by body shop. Insurance company approves or doesn't. In Maryland they either approve or total. You only have to get one estimate at the shop of your choice in MD.

The insurance company does not cut a check in advance, so there is no money to 'give back.' Usually, the shop sends the bill directly to insurance company, you don't see the bill or the check at all. If the insurance company sees something on the bill that isn't right, like too many hours or high cost of parts, they will take it up with the shop.

Why would you think you would get the remaining amount? The insurance company is not going to pay out one more dime than what it determines to be valid, documented expenses to fix your car.

And IF you were to get a check, and you won't, but if you were to...your rates would just go up. The insurance company will want that money back. Have accident forgiveness so your rates won't go up? They already HAVE gone up. You will pay higher rates initially to get accident forgiveness. Insurance companies don't forgive, ever.
 

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Kinda what he said ^

Insurance companies always win or they'd close their doors. Let's say you pocket $1,000; your premiums will get that back in just a couple years' time.

It is possible to legally get the money though. With my claim, I told insurance I wanted to handle my wheel replacement myself, so I kept the money they valued the wheels at and that is going towards a new set. They were fully aware of that plan and okay with it. Also, I paid the shop extra to do some work on the rest of the car while they were at it. Probably came out cheaper than if the same work had been quoted as two separate jobs due to having everything started already. Lastly, you do have the option for insurance to cut you a check (unless there's a lien in which case your lien holder will have to sign off on the check) and then you do what you want. However, this will likely screw you over in the event of more damage being found, and you may have a hard time getting a supplement for the additional work.


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Discussion Starter · #5 · (Edited)
I was just wondering, I don't know what I am responsible for, if anything. I know they tried to send me a little check and I guess I have to destroy it or something.

I guess I just need to sit back and let the repairs happen. If it's really this easy that's great lol

4380r referenced me getting a check. In my original "crash" thread I had said they sent me a check for $500 and some odd dollars. Is there a way to return this, or am I okay since I didn't cash it? I don't want my premium to go up....but it wasn't my insurance who is taking care of this.

This is where my inexperience with collision repair starts showing. So on the repair side, I don't do anything at all right?
 

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I was just wondering, I don't know what I am responsible for, if anything. I know they tried to send me a little check and I guess I have to destroy it or something.

I guess I just need to sit back and let the repairs happen. If it's really this easy that's great lol

4380r referenced me getting a check. In my original "crash" thread I had said they sent me a check for $500 and some odd dollars. Is there a way to return this, or am I okay since I didn't cash it? I don't want my premium to go up....but it wasn't my insurance who is taking care of this.

This is where my inexperience with collision repair starts showing. So on the repair side, I don't do anything at all right?
If they actually sent you a check, there must be documentation relative to how they got that amount. Also check any documentation that came with the check for direction. For that small amount I'm guess they took whatever estimate you gave them, it looked reasonable to them, and left you to get the work done yourself. In that event, you likely can keep anything left over. By the same token though, by cashing it you've probably agreed to that amount as the settlement, so if your repair expenses go over they probably won't send you any more money.

Is this insurance check from another driver's insurance company, or yours? If it's from another driver's, cashing that check almost certainly will be seen as you accepting that payment as settlement in full and you can't go back for more.

If it's from YOUR insurance company, unless you have a zero deductible (and are paying much higher rates for that) you've probably already spent anything over that amount to pay your deductible.

My experience for bigger repairs has been all money changes hands between the shop and the insurance company.
 

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Discussion Starter · #7 ·
If they actually sent you a check, there must be documentation relative to how they got that amount. Also check any documentation that came with the check for direction. For that small amount I'm guess they took whatever estimate you gave them, it looked reasonable to them, and left you to get the work done yourself. In that event, you likely can keep anything left over. By the same token though, by cashing it you've probably agreed to that amount as the settlement, so if your repair expenses go over they probably won't send you any more money.

Is this insurance check from another driver's insurance company, or yours? If it's from another driver's, cashing that check almost certainly will be seen as you accepting that payment as settlement in full and you can't go back for more.

If it's from YOUR insurance company, unless you have a zero deductible (and are paying much higher rates for that) you've probably already spent anything over that amount to pay your deductible.

My experience for bigger repairs has been all money changes hands between the shop and the insurance company.
I have NOT cashed it. I laughed at the amount as it was the amount given by their "repair shop". I haven't looked over any return instructions, I just figured I'd destroy the check. But I should really start looking into it to see if I should send it back.

It is from the woman's insurance, the one who hit me. thank God she admitted to it. I am grateful for that. There was another on site estimate done at SCC and it was a true acceptable amount vs the lowball amount.

It sounds like I don't really need to do anything which eases my mind.
 

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6 post and no comments on SCC.... forum is losing its edge :)
 

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This is the way that I see it. The insurance on your car is there to “make you whole” incase of any damage. Now you can get a quote from various shops to assess how much your loss is. If your car sustained 20k worth of damage, that means that you had a loss of 20k. If the insurance company agree with the quotes from the shops, it matters not if they pay the shop or they cut you a check for 20k. A loss is a loss and they have to pay up. If you bring your car to a professional shop and have them repair it for 20k, then you have no thinking work to do. But say you got the 20k check yourself and decided that “Hey, I think I can fix it myself for less.” because you’re not paying for professional labor. Well then the extra is yours to keep. Technically, you have not GAINED anything. You just covered your loss. That is why you don’t have to report insurance repairs as income on your tax return. That is because there is no gain. Now, if the insurance company does not trust the quality of your repair, then they may no longer insure you after your policy expire. It matters not if you have a shop do the repair or if you do the repair yourself. You took a loss and that loss has to be fulfilled. Either way, the insurance company is paying out 20k.
 

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Mulholland>SCC
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haha I would only expect good comments about Specialty! :up:
Not exactly but it's not what this thread is about.

The shop will handle all paperwork with the appraiser and insurance company regarding the repairs to your vehicle. There is no left over money. Appraiser acknowledges the damages, shop sends quote, insurance company hopefully approves, work is done, shop bills insurance company who pays the shop directly. If a check was sent to you for body damage, DO NOT SIGN IT, CASH IT, ETC. Have you signed any paperwork? It sounds like a sneaky move by the insurance company but I'm not sure we have the full story (and I'm not asking). I would imagine a letter accompanied the check.

I had a moto accident some years back with a self insured company and we settled the property damage and bodily damage separately. I received a check for my property damage while the bodily injuries were still present and ongoing. I knew exactly what the check was for but the back had a disclaimer releasing the company of all further liability. I had the company write a letter on company letterhead detailing what the check was for (property damage) and that despite the release on the check that there was still an active claim for bodily damage to be settled at a later date and that this check did not affect it. About a year later, my bodily injury claim was settled without incident.
 

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Is there a way to return this, or am I okay since I didn't cash it? I don't want my premium to go up....but it wasn't my insurance who is taking care of this.

You should call the company that gave you the check and ask the insurance adjuster handling your claim what they want you to do with the initial check now that they are working off an updated repair estimate.
 

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Gamera The Atomic Turtle
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^ that.
 

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You still can simply go to your own insurance company and let them deal with it. You have the adjuster work with the shop doing the work. You get your car back fixed....the end. They go after the other person's insurance company to get the money. The good thing with this is that you get no checks and if there's more problems if added repairs are needed that were not anticipated.
 
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