Can I deposit my insurance check?
Can I deposit my insurance check?
Yes, you can safely deposit a check from your renters insurance in the bank and then use that money to replace the things that you made a claim for. You have documentation of the check being deposited into the bank, and of the check being from the insurance company.
What happens if my car is a total loss and I still owe?
If your car is totaled and you still owe money on the loan, the insurance company will pay your lender for the car’s value, and you will be responsible for any remaining balance if the check is less than the loan amount.
What happens if my insurance estimate is too low?
What should I do if my insurance claim adjustment is too low?
- You do not have to accept the valuation assigned to your claim by your insurance company.
- If the insurance company and its insurance claims adjuster have under valued your claim, you should immediately contact a lawyer to review your case.
Can you negotiate the total loss value?
Whether they pay fair market value or replacement value, their estimate could be biased. There’s every chance that your car is worth more than they offer you. Luckily, you can negotiate for a higher amount. While it won’t be easy to convince the insurance company to pay more, it’s possible.
What is the difference between salvage title and total loss?
Another situation is a car that has been damaged beyond repair. In this case, the car is considered a total loss. A salvage car, on the other hand, is a car that has been damaged but can be repaired. Total loss cars are sold as scrap.
How hard is it to repair a flood damaged car?
A flooded vehicle can be repaired by an experienced mechanic, not you! The bulk of these vehicles will be repaired, regrettably, and the way to do it is not exactly rocket science. This is basically what you should do with the engine. Check the oil dipstick to see if there is any water contamination.