HomeIs it legal to not get your car fixed and pay off the car with the insurance money and get a new one with the balance of the payout?
Wiki User
2005-11-05 18:13:45
2005-11-05 18:13:45
If the car is entirely in YOUR name, the money from the insurance payout is entirely yours. The insurance payout is reimbursment for damages. You are at liberty to sell the damaged vehicle and purchase another with the money, spend the money on something else or whatever you want to do. Recognize, however, that if the bank holds title to the vehicle because of a loan, the money from the insurance company must be used to either repair the vehicle and bring it back to a value that satisfies the bank's need for collateral or you must use the money to pay down the loan.
Related Questions
Since you were not driving legally and had no legal right to be where the accident took place, the insurance company may deny the claim. You would likely win in court, but that doesn't get your car fixed now..
You are not obligated to spend your auto insurance settlement claim check on a particular kind of repair. In fact, after payout, the auto insurance company has no legal ability to control or restrict how you spend your settlement money.
Legal Malpractice Insurance is coverage specifically for professionals practicing in the legal field
Attorneys typically buy a form of Professional liability insurance. Sometimes referred to as Legal Liability Insurance or Legal Malpractice Insurance.
Legal insurance is not the same as auto insurance; legal insurance is simply a retainer that is paid to an attorney or lawyer so that they can be help in counsel if they are needed. Auto insurance, depending on the level and premium paid, provides coverage in case of an accident.
form_title=Legal Insurance form_header=Legal insurance provides attorneys, lawyers and other legal professionals with the professional liability insurance they need to be successful. Main area(s) of practice:=_ Full or part time?= () Full () Part Number of Attorneys in your firm:=_ Do you currently have professional liability insurance?= () Yes () No
Yes, Legal & General is an insurance company. They offer life, home, landlord, lifestyle cover, and pet insurance.
Apparently, it is. I lived in Southern CA. in an apartment complex that kept flooding. So when the owner got everything fixed, he required renters insurance so that he couldn't be sued if it flooded again.
The purpose of legal malpractice insurance is to cover all or some of the legal costs of an attorney, who is being sued by a former client for malpractice.
Sorry, the driver with no insurance can claim of your insurance. He/she has no legal right to lodge such unauthorised claim.
understanding insurance of issue
The debtor is liable for the payout balance of the vehicle less resale amount. Additionally, he must pay any repossession fees, storage fees, transportations fees, interest from the lender, and penalties. In the evnet these are not paid, the lender will have no other recourse but to sue for the balance along with court costs, and legal and collection costs and fees.
It is legal for a provider to have a cash price and a a different price for different insurance companies. So yes.
An insurance company's legal department is there to handle situations that require court appearances or may involve lawsuits. The legal department will represent the company.
Yes, it is legal. You need to make sure that your minimums are within the legal range for your current state and you need to update your insurance records as well.
You are still responsible for the balance of the contract, in addition to repossession, collection, and legal fees. Added to this can be transportation costs, storage costs, auction fees. The car should be sold and the sale amount deducted from your contract balance. What ever is left is called a deficiency balance and your are still liable for it. Keep in mind that most repossessed vehicles are sold at a substantial loss (much less than for what is owed) and the additional fees can result in a higher balance than the original payout on the vehicle.
Yes, as it is originally configured with a fixed 10 round magazine and a fixed stock.
the legal owner of the car needs to purchase the insurance....
why are you asking a legal question anomously on the internet. ask a licensed oregon insurance agent. that is the only reputable answer you can get
Legal and General offer financial services. These include investments, pensions and annuities, life cover, and other types of insurance, including home insurance and pet insurance.
There are no real legal requirements for one resident to get travel insurance. As long as the insurance plan covers basics such as medical, lost items, personal accident, and legal expenses, then the individual or family should be fine.
There are no mandatory legal requirements for insurance for rented property. However it is advisable to review your homeowners insurance if renting out the property or part of it is covered. If it isn't covered you should get a landlord insurance policy in order to be safe.
Did you sign the total over to the insurance company and have proof of the total payout/paperwork? If so, contact the insurance company and demand they switch the title over immediately and then report them to your state insurance commission and the DMV! The person driving your old car is in trouble too for not registering the car within 30 days of purchase.
No. Only legal dependents can be added to your health insurance policy.
Fixed expenses include rent or mortgage payments,depreciation on fixed assets (such as cars and office equipment),salaries and associated payroll costs, liability and other insurance, utilities, membership dues and subscriptions(which can sometimes be affected by sales volume),and legal and accounting costs.These expenses don't change, regardless of whether a company's revenue goes up or down.
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