Originally posted by Nates95Accord
Well, a lot of insurance companies are avoiding that. DO it right. Dont steal from the insurance company ( even though they make so much money off you) Thats insurance fraud, and believe it or not, if they want to. They can catch you. Most insurance companys are making the checks out directly to the body shops so you cant cash it. If you get a high estimate somewhere, get the money from the insurance company, they will go back to the shop where you got the estimate and find out if the vehicle was repaired there. If not, they will find out where you took it, if you lie, and say you took it somewhere, and they know you did, you will be forced to pay out of your pocket the difference in estimates. A lot of times they dont catch you, but just recently people 4 people have got busted at my work for taking the checks and running.
Close.
Depends on if you own the car yourself, or if there is a lien on the car (bank owns).
Bank owns: They cut you a check minus the deductible. The check is made out in your name and the name of an agreed upon shop (your choice) for the price of the estimate minus the deduct. The reasoning behind this is, in the case that the bank has to repo your car, they don't have to fix it, then sell it. Costing the bank and insurance co more money in the long run.
You own: Typically, you goto an approved shop that does estimates for your insurance co, or an estimator/adjuster that works for the insurance co. They estimate the damage and cut you a check directly, no shop, no muss, and no fuss.