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Insurance money
http://forum.homeschoolchristian.com/viewtopic.php?f=15&t=9111		 Page 1 of 1
Author:  Sis [ Thu Aug 02, 2018 10:03 am ]
Post subject:  Insurance money
If you are in a car accident and you get insurance money to fix your car, is it illegal to use that money for something else?
Author:  Anna1111 [ Sat Aug 04, 2018 9:54 am ]
Post subject:  Re: Insurance money
I don't think so - but state laws, as well as the provisions of the contract - may vary.

If they give you 5k to fix a car, and you find a good mechanic who will do it for 2k, what else would you do with the rest?
Author:  Briva [ Sat Aug 04, 2018 2:07 pm ]
Post subject:  Re: Insurance money
Exactly. We got money to have our van's tailgate 'repaired'. It should have been replaced but the value of the van was less than replacement cost. We got $2500. Dh was able to find a tailgate the same color at a junkyard and installed it himself. We pocketed the rest. Dh considered it his finders fee and labor :)
Author:  Sis [ Sat Aug 04, 2018 10:11 pm ]
Post subject:  Re: Insurance money
Briva wrote:
Exactly. We got money to have our van's tailgate 'repaired'. It should have been replaced but the value of the van was less than replacement cost. We got $2500. Dh was able to find a tailgate the same color at a junkyard and installed it himself. We pocketed the rest. Dh considered it his finders fee and labor :)


Did he have a loan on it? I don't think there would be anything wrong at all with pocketing ALL the money if you own the vehicle outright.
Author:  Briva [ Sun Aug 05, 2018 12:16 am ]
Post subject:  Re: Insurance money
No, it was over 10 years old by then.
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