# Does Insurance check go to company that financed vehicle or me?



## Nonya busy (May 18, 2017)

I got a loan for my vehicle. I was rear ended by someone insured through State Farm Insurance.

Will the insurance check for an accident for repairs go to me or the company that did the loan for my vehicle?

*The check I'm guessing is from the insurance company of the person who hit me which is State Farm*. I'm not insured by State Farm.

I'm afraid because I was hit and don't want to have my rates increased. The person who hit me is insured by State Farm. I'm not insured by state farm.


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## Rakos (Sep 2, 2014)

Depends on your state....

And if it's for starting the work....

It always seems to be a crapshhot tho...8>)

Rakos


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## UberBastid (Oct 1, 2016)

In Cali the answer is "both".
You only own the equity.

In case of a total ... they look at the cost to replace.
They send the payoff on the loan to the bank.
They send what's left to you.

If its not a total ... they issue the repair check to either you, or the repair facility or both.
I always tell them that I'm doing the work myself so they issue to me only.
Sometimes they insist on an inspection after the work is done. 

If you decide to keep the money and not do the work, often they won't insure it after that (at least not for collision) Makes sense.


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## Nonya busy (May 18, 2017)

UberBastid said:


> In Cali the answer is "both".
> You only own the equity.
> 
> In case of a total ... they look at the cost to replace.
> ...


But the check I'm guesssing is from the insurance company of the person who hit me. I'm afraid because I was hit and don't want to have my rates increased. The person who hit me is insured by State Farm. I'm not insured by state farm.


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## CarpeNoctem (Sep 12, 2018)

Typically the insurance companies fight it out regardless of your coverage and who is at fault. Like their insurance company contacts your insurance company, they work out a deal and then you get a check from one or the other. If you have a co-insured stipulation (typically your car finance company) they will also be named on the check and they have to sign the check as well before the body shop gets paid. At least in Texas this is usually how it works.

If the accident wasn't your fault then your insurance *shouldn't* go up. But, your insurance company will know. The insurance companies have a database they share (like the credit reporting agencies) not to mention things like Carfax.


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## steveK2016 (Jul 31, 2016)

You'll get the check unless you opted to have them pay the repair shop direct. I was rear ended a few years back, other drivers fault. Their insurance sent me to a repair shop. Was given a rental car, repairs done the next day and the bill was paid. Was surprisngly fast. My insurance company never said a word to me.


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## kc ub'ing! (May 27, 2016)

Are you insured by StateFarm?


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## Daisey77 (Jan 13, 2016)

Nonya busy said:


> I got a loan for my vehicle. I was rear ended by someone insured through State Farm Insurance.
> 
> Will the insurance check for an accident for repairs go to me or the company that did the loan for my vehicle?
> 
> ...


I'm not sure how it works where you are at, but here in Colorado, generally the check for repairs goes directly to the shop.

If the person who hit you and his insurance company assume full responsibility, then yes they pay for the repairs and your insurance rates won't be affected. They are only affected if you are at fault


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## UberBastid (Oct 1, 2016)

... and along those lines. Be careful that they don't determine that is is 50/50 for fault. Ins companies like to do this because then they BOTH get to ding their drivers for an 'at fault' accident.


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## Rakos (Sep 2, 2014)

UberBastid said:


> ... and along those lines. Be careful that they don't determine that is is 50/50 for fault. Ins companies like to do this because then they BOTH get to ding their drivers for an 'at fault' accident.


Waited two years and they tried that....

Having to send it back to arbitration....

State Farm is trying to duck out....

My proof should TRUMP theirs...8>)

Rakos


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## wontgetfooledagain (Jul 3, 2018)

Umm, did you think to call State Farm?


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## Nonya busy (May 18, 2017)

wontgetfooledagain said:


> Umm, did you think to call State Farm?


Yes want to get my stuff straight first.


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## Daisey77 (Jan 13, 2016)

He doesn't want to call them not knowing how anything works because they will use that to their advantage.


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## UberBeemer (Oct 23, 2015)

Nonya busy said:


> I got a loan for my vehicle. I was rear ended by someone insured through State Farm Insurance.
> 
> Will the insurance check for an accident for repairs go to me or the company that did the loan for my vehicle?
> 
> ...


It would go to the finance company if yhe car were totalled. Otherwise some companies will either cut you a check or pay their approved shop directly.


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## Bluto1899 (Aug 24, 2018)

I work at a bank, and deal with this a lot. Person comes in, insurance check is made out to them and the bank because they have a car loan. Here’s what we do.

Under $500, endorse it payable to them and say “Have a nice day!”
Over $500, verify they are up to date on their payments. If they are, ask if they have already made and paid for the repairs. If they have, obtain proof and sign over check. If not, check goes to our central processing area. They keep it, and work with the body shop directly. Once work is complete, the bank pays the body shop and the car is released.


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## Nonya busy (May 18, 2017)

Bluto1899 said:


> I work at a bank, and deal with this a lot. Person comes in, insurance check is made out to them and the bank because they have a car loan. Here's what we do.
> 
> Under $500, endorse it payable to them and say "Have a nice day!"
> Over $500, verify they are up to date on their payments. If they are, ask if they have already made and paid for the repairs. If they have, obtain proof and sign over check. If not, check goes to our central processing area. They keep it, and work with the body shop directly. Once work is complete, the bank pays the body shop and the car is released.


What bank? Are all banks the same?


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## Bluto1899 (Aug 24, 2018)

Nonya busy said:


> What bank? Are all banks the same?


Pretty much when it comes to that stuff


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## Daisey77 (Jan 13, 2016)

Following an accident, I got a $5000 check for depreciation. The depreciation check came to me in both my name and my lender's name. I had to mail the check in to Toyota for them to sign and then they mailed it back to me for me to sign but they let me keep it . I figured they would take it and apply it towards my loan but they didn't


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## RynoHawk (Mar 15, 2017)

If it's determined that the other driver is at fault, then their insurance company will likely deal with and pay directly to the body shop. Your insurance will likely not be involved once it's determined that the other company has accepted responsibility. It *should* not affect your premiums.


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## wontgetfooledagain (Jul 3, 2018)

Nonya busy said:


> Yes want to get my stuff straight first.


You won't have reliable answers to your questions unless you call them. The person on the phone is not writing your check, just ask how the process works.


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## Daisey77 (Jan 13, 2016)

wontgetfooledagain said:


> You won't have reliable answers to your questions unless you call them. The person on the phone is not writing your check, just ask how the process works.


But the claims adjustor does and since the claim is already filed, that's who he'll be talking to.


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## Nonya busy (May 18, 2017)

Daisey77 said:


> But the claims adjustor does and since the claim is already filed, that's who he'll be talking to.


Sorry, but I don't think I ever said i filed the claim


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## Daisey77 (Jan 13, 2016)

Nonya busy said:


> Sorry, but I don't think I ever said i filed the claim


Well then what "check" are you speaking of? You said multiple times. . . 


Nonya busy said:


> The check I'm guessing is from the insurance company of the person who hit me which is State Farm


If there isnt a claim, there isn't a check.

In addition, you might not have had to file the claim. If the guy who hit you has damage to his car, there's a good chance he already filed the claim. If that's the case and if the police were not called out to the scene of an accident, good luck. He can say whatever he wants and without you giving your statement as to what happened, they have no choice but to believe him. Your lack of cooperation equals admission of guilt in the eyes of insurance companies. Especially if there's no police report or citation issued.


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## Nonya busy (May 18, 2017)

Daisey77 said:


> Well then what "check" are you speaking of? You said multiple times. . .
> 
> If there isnt a claim, there isn't a check.
> 
> In addition, you might not have had to file the claim. If the guy who hit you has damage to his car, there's a good chance he already filed the claim. If that's the case and if the police were not called out to the scene of an accident, good luck. He can say whatever he wants and without you giving your statement as to what happened, they have no choice but to believe him. Your lack of cooperation equals admission of guilt in the eyes of insurance companies. Especially if there's no police report or citation issued.


The cops filed a report but i still have to contact the insurance company. I was rear ended at a stop light.


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## Daisey77 (Jan 13, 2016)

Nonya busy said:


> The cops filed a report but i still have to contact the insurance company. I was rear ended at a stop light.


Technically the other person should be filing the report with their insurance company and they should be reaching out to you. However, I have in the past contacted the person's insurance company myself after a few days have passed and I've not heard anything .


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