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As long as there is no lien against the old car, you can use the insurance settlement for anything you want. But you won't be able to get insurance on it until it is repaired.

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โˆ™ 2011-09-12 22:14:57
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Q: If your insurance company paid you for damages to your car can you use the money for a down payment on a new car instead of fixing the old one?
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Related questions

What is the payment of damages by the insurance company directly to the insured?

Payment of damages by the insurance company against your Householders' policy is paid directly to your account through NEFT,instead of cheque as was customary earlier.


How can license be taken for damages owed to an insurance company?

In most countries a driving licence could not be taken as payment or punishment for damages owed to an insurance company as that you be a civil matter.


What are types of insurance with an example of when your insurance company would make a payment?

Auto insurance: An accident that damages your vehicleDisability insurance: An injury that causes you to lose wagesHomeowners insurance: A fire in your house that damages your personal possessionsHealth insurance: An illness that involves a trip to the doctor.


Can you choose to take payment for damages to your car rather then having the insurance company fix it?

Not normally as that route is open to fraud.


Can I sue for damages if I just bought a car and somebody rearended me I haven't even made a payment yet?

If it was there fault their insurance company will be responsible for the damages. So yes you can sue, but most likely this won't be necessary as long as the insurance company gives you fair compensation.


Can the at-fault driver pay for damages even if they have insurance?

Yes, most insurance will allow you to make an, lump sum, out-of-pocket payment for the damages.


Can neighbor sue me for damages after insurance paid?

If you're talking about his or her insurance company, then probably not since it's customary for the insurance company to get subrogation rights in exchange for payment. The insurance company can certainly sue you but they don't always do so.OTOH, if your insurance made the payment then absolutely not unless your insurance company is incompetent. Insurers always make claimants waive all future legal remedies arising from that claim before paying. The claim is considered settled in full.


What do you call the payment of the insurance company?

premium


When can an insurance company void a policy?

Non payment


How many payment protection insurance companies have ministry of justice license?

HSBC is a reputed insurance company in India for payment protection insurance.


On what types of policie is it a certainty that the insurance company will have to make payment?

A. Life Insurance


How can one obtain payment protection insurance?

You can get payment protection insurance by speaking with your insurance agent and asking whether or not the company offers such an insurance. You can try insurance agencies like Progressive or Advantage.

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