How Long Before I Get an Insurance Check for My Damaged Car?

Everyone knows the old saying, "the check is in the mail." If you are dealing with a crashed car, you may feel like that is what you will end up being told by your insurance company. There is no easy way to determine how long it will take before you are issued an insurance check for your damaged vehicle because there are so many determining factors.

Different Insurance Agencies

Every insurance agency has different ways that they handle payouts. It is really important to know your insurance agent well and to know how their office handles claims. Do they have an in-house adjuster? An auto claims adjuster will have to see the car damage and take photos.

If the adjuster must come from a different area, he will most likely call to set up an appointment to see the vehicle. His or her schedule may be extremely busy and it could take more time than you feel is necessary. However, the adjuster is the first step in getting your car fixed, so be patient.

Different Auto Body Shops

When the adjuster has seen the damaged vehicle you will need to get damage estimates from body shops. Some insurance companies require three separate damage reports while some only require one. When my truck was severely damaged, I was relieved to find out that our insurance company worked with a particular body shop that I knew to have a good reputation. I only had to submit their estimate so it saved extra time.

If you choose a popular body shop for the repair work, they may also be very booked up. The insurance company will not issue a check until the car has been repaired and the body shop has submitted the final bill to them. If the body shop finds additional repairs while working on the car, they will have to submit an additional bid for approval.

Depending on the insurance company's policy, the repair check may not even be sent to you. When our damaged truck was ready to pick up we picked the check up from the insurance company. It was made out in our name and the body shop name. We had to sign the back of it and give it to the body shop. Insurance checks can be made out to you, the body shop, or both of you, depending on your insurance company's policy.

Different Types of Damage

The kind of damage to the car and how you are handling it will also affect the time it will take to get an insurance check. If the adjuster decides the car is totaled you have a couple of options to choose from. Totaled means it would cost more to repair the car then its fair market value is. The insurance company will offer you a settlement according to the average price of the car. If you accept it they will give you a check and keep the car. If you feel the car is repairable, you can ask for a "buy back" settlement. They will give you less money and you can keep the car and repair it yourself.

Just remember that all of the different steps you and the insurance company have to go through before the check is issued takes time. The best way to speed up receiving your insurance check after a crash is to stay in touch with your agent.

Make follow up calls to see where the claim stands. Ask how soon an adjuster will get to you. Know your agent and know your policy and rights when filing a claim. The smoother the process goes, the faster you will get paid.

More by this contributor:

Car Insurance Dos and Donts Following an Accident

How Insurance Companies Know What to Pay for Damaged Vehicles

Comp Collision Liability: Understanding Insurance terms

Sources:

KZimmerlaw.com

What Happens Now.com