YACT - Insurance Question

[MixMasterTang]

My insurance company cut me a check for $2500.00 to repair some minor damage to my car (they estimated $3000.00 in damage, but I have a $500.00 deductible). I had taken my car to a body shop a few months ago to get an estimate so I could decide whether it would be worth filing a claim with my insurance, and they estimated the repair would be around $2200. If I get my car fixed for less than the insurance companies estimated 3grand, am I required to reimburse the insurance company any money?

 

[BrunoPuntzJones]

No

 

[BrunoPuntzJones]

In fact you could go blow it on hookers. Or hookers who blow. Or whatever.

 

[slsmnaz]

Originally posted by: BrunoPuntzJones
In fact you could go blow it on hookers. Or hookers who blow. Or whatever.

or blow and hookers

 

[Lola]

no. you do not have to

 

[chambersc]

Actually, you don't have to get the repairs done at the body shop. You can do the work yourself and keep the profits. If it happens that the work to your car keeps getting put off due to scheduling conflicts then.....

 

[MixMasterTang]

Booze and hookers here I come!

 

[jemcam]

No, you don't have to refund anything, but if the shop repairs it differently (for instance repairing a panel vs. replacing it) than what the insurance company allowed for, don't go back to the insurance company to complain about the repairs. They'll tell you to take it up with the shop since they didn't repair it per their estimate.

 

[Schadenfreude]

Originally posted by: jemcam
No, you don't have to refund anything, but if the shop repairs it differently (for instance repairing a panel vs. replacing it) than what the insurance company allowed for, don't go back to the insurance company to complain about the repairs. They'll tell you to take it up with the shop since they didn't repair it per their estimate.

Bingo.