Depends on the details of your policy and your state regulations.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
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.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?
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.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.
haha I would only expect good comments about Specialty! :up:6 post and no comments on SCC.... forum is losing its edge![]()
Not exactly but it's not what this thread is about.haha I would only expect good comments about Specialty! :up:
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.