How do I endorse this insurance check?

[sc281]

So much bad info here, jeezus!

First off, the car will need to be fixed before they will endorse any kind of insurance check. Most of the time if they are not local they will have the shop send the check with a final invoice. They will endorse the check and send it back to them. They will not endorse a check before repairs are completed, though sometimes they will if they recieve a signed work order for the shop to help speed up the process.

I deal with this all the time (work for a bank), I know my info is good.

[Cooter]

I deal with this all the time. Hell, I had a customer cuss me out yesterday because of it. You need to have the finance company endorse the check for you. Call them and they will send you to the right person who can do it. The issue is a lot of finance companies are tired of customers pocketing the insurance money and not fixing their collateral. Then they end up not paying and it repos, or the vehicle gets totaled years down the road and the ins company shorts the vehicle the amount of the previous claim payout, and the finance company gets fucked. So like mentioned above, get it repaired and then send them proof of the repair, either pictures or WO, and they will endorse it.

did they cut the checks straight to me because of my credit score or something?

[Big A]

When I had my car fixed the Progressive rep took care of all of that, though I did use one of their preferred shops. She was great to work with though, and I am pretty certain it would have been a similar experience.

There was no room for pocketing anything though, nor was I trying to. I am assuming that due to it being an older car they just totalled it out?

[Big A]

did they cut the checks straight to me because of my credit score or something?

Since when have you ever had a lien on anything?

[sc281]

did they cut the checks straight to me because of my credit score or something?

Each company has slightly different policies. no telling why they did it. i've always recieved my check back, but it's a rare occurence from my experience.

EDIt: thought you were talking about the loan co in this post. you were talking about the ins co.

[CJ]

did they cut the checks straight to me because of my credit score or something?

Possibly due to the lienholder doing sloppy work and not setting themselves on your insurance policy as the lienholder. It happens all the time. It can also happen if you changed insurance companies recently and they didn't reset the lien.

[Cooter]

Since when have you ever had a lien on anything?

my wife finance her car, and I took a small loan on my truck to keep some cash free

[Silverback]

did they cut the checks straight to me because of my credit score or something?

Progressive did the same thing for me on my Titan and a hail damage claim earlier this year. They cut me the check at the body shop, in my name only. I traded the truck in with the damage, they paid off the loan, and I pocketed the repair check.

Big plus for trading in a vehicle at night.

[CJ]

I had a customer that was pissed I wouldn't cut the check to them, so they told me they wouldn't repair the vehicle. I advised them I would exercise my right as the lienholder and take possession of the claim myself and apply it to their loan. Then they got really pissed.

[Mark Preus]

I had a customer that was pissed I wouldn't cut the check to them, so they told me they wouldn't repair the vehicle. I advised them I would exercise my right as the lienholder and take possession of the claim myself and apply it to their loan. Then they got really pissed.

Lol damn. Was he trying to just pocket the money?

[CJ]

Lol damn. Was he trying to just pocket the money?

yes, exactly what he was trying to do, both he and his wife made up a series of fantastic stories about why they needed me to endorse the check without any questions. I also received an insurance cancellation notice the same day on them, which I found humorous.

[Cooter]

Progressive did the same thing for me on my Titan and a hail damage claim earlier this year. They cut me the check at the body shop, in my name only. I traded the truck in with the damage, they paid off the load, and I pocketed the repair check.

Big plus for trading in a vehicle at night.

LOL, my truck is white. Might have to try that one

[KBScobravert]

When my wife wrecked my truck last year in the ice, the insurance company sent my bank a check for the repair cost when I told them I wasn't going to fix it at their service center. The bank took the loan payoff out of the check and sent me the balance. Win, win. Truck took $167 to fix and they gave me (the bank) $6,700. After payoff we had a good chunk left over and the truck is none the wiser.

[CJ]

When my wife wrecked my truck last year in the ice, the insurance company sent my bank a check for the repair cost when I told them I wasn't going to fix it at their service center. The bank took the loan payoff out of the check and sent me the balance. Win, win. Truck took $167 to fix and they gave me (the bank) $6,700. After payoff we had a good chunk left over and the truck is none the wiser.

Legally a lender cannot profit from the sale of collateral or the repair of said collateral.

[KBScobravert]

Legally a lender cannot profit from the sale of collateral or the repair of said collateral.

Meh, profit was made only after lender became sole owner. And I would be hesitant to call it profit as the vehicle is worth less now as even if they performed repairs outlined in the estimate.