Question
Hey Sheldon,
I asked a question to one of the experts on here but he is no longer available for follow up. I was wondering maybe you can shed some light on it. I copy pasted my question to him and his answer back. He suggested the Insurance company issue be a check but how much money do i ask for? should i get an estimate from a repair shop and claim that much? How do i go through this process as this is my first time.
Subject motorcycle accident
Question Hey Richard,
I got into a motorcycle accident when a driver pulled in front of me while he was pulling out of a gas station. Anyhow, the claim has been settled now in my favor. The opposite party's insurance is going to pay for the bike's repair. During that month long period a person offered to buy my bike as is without me getting it fixed. I wanted to know will i still get the estimated repair cost money from the insurance even if i decide to sell the bike as it is and just pocket the repair money as my loss on selling the bike in a damaged condition? Or do i have to get my bike fixed with that money?
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Answer Hi Harjot,
You are under no obligation to have the bike repaired. Just tell the insurance company to issue you a check directly. Once you receive the check you are free to what you want.
I hope this helps
Richard Hixenbaugh
Answer Hi Harjot-
They should come and look at the damage and they will pay what they determine it could be fixed for. They may ask you to take it in somewhere for an estimate.
Sheldon Maughan
Maughan Insurance Agency
Helping you protect the things you care most about
916 698-2796
http://www.farmersagent.com/smaughan/
By the way - 97% of the people I talk to are grossly underinsured and lack an adequete insurance buying strategy.
If you know anyone who you suspect may be in this situation please forward their name and phone number to me so I can educate them before their financial future is devistated.
