Auto Insurance Claims: Wife backed into my truck, juris doctor, insurance adjuster

Question
My wife backed into my truck causing damage to both vehicles.  If I file an insurance claim, could both vehicles be repaired for only 1 deductible?  If I get an estimate and negotiate a price with the insurance adjuster, can I cash out and decide what to do later?  Thanks for any help you can give.

Answer
Hi Zach,

No, you may not use just one deductible for both vehicles.  Each is a separate claim.

Yes, you may take the cash and do what you wish with it -- even ignore repairing the vehicle, UNLESS A VEHICLE IS UNDER LIEN BY THE LENDING INSTITUTION.  In that case, the lender has the right to ensure that its collateral does not lose value because of accident damage.  Thus, they will usually insist that their collateral be repaired, although some arrangements can be made depending upon the balance owing on the loan.

Best Wishes,

Dr. Settlement, J.D. (Juris Doctor)
www.SettlementCentral.Com