now i have gotten the car fixed and paid out of pocket and i have this check that can't be cashed because it is written out to me and my lein holder,so i'm very upset because i have paid out way to much money
2007-09-23 05:57:58 · 6 answers · asked by Anonymous in Business & Finance ➔ Insurance
When you have a lien on the vehicle, your insurance company will normally issue the check in this way. The reason that they do this is that both you and the bank own the vehicle. Since you have already paid for the vehicle repairs, you will need to take the receipt that the shop provided to you and visit the bank or lien holder so that they can endorse the check and then you can deposit it.
If you ever have this problem in the future you can ask the insurance company to make the check payable to you and the shop that will repair the vehicle. The one caveat is never to endorse the check to the shop until your vehicle has been totally repaired to your satisfaction.
Good Luck
2007-09-23 09:31:52 · answer #1 · answered by Margarita D 6 · 0⤊ 0⤋
The reason the lien is on the check - Your policy has a clause in it that says the insurance company will protect the lien holder's interest in the car. That means, they have to make sure that the car is repaired. The lien holder does not endorse the check until they get proof that the car is repaired. Therefore, the insurance company protects the lien by putting them on the check.
Call your lien holder and let them know you have an insurance check. They will tell you what to do to get them to endorse the check.
Or
Call the insurance adjuster. Let them know the car is repaired. If you bring the repaired car to the adjuster- so they can photo it and confirm that it has been repaired - then the adjuster may be able to re-issue the check w/o the lien holder on it. Since the car has been repaired - the lien holder's interest has been protected.
2007-09-23 11:52:48 · answer #2 · answered by Boots 7 · 0⤊ 0⤋
Yes you can. But if you don't fix the car and get the new body job inspected (by geico), the next time you get any damage, they will NOT cover that much (assuming the damage was from the first time and not fixed). Good Luck...
2016-05-17 04:35:14 · answer #3 · answered by ? 3 · 0⤊ 0⤋
You need to have the leinholder sign off on the check, before you can cash it. THEN, you cash it.
2007-09-23 11:22:01 · answer #4 · answered by Anonymous 7 · 0⤊ 0⤋
you have to have the leinholder endorse it. many leins have local banks that they have you take it to who they authorize to endorse it to you or cash it for you. call your leinholder to find out their procedure
2007-09-23 06:35:19 · answer #5 · answered by Queen B 6 · 0⤊ 0⤋
Get the leinholder to endorse it then take it to your bank. Or you endorse it and submit it to lienholder as payment(s).
2007-09-23 06:03:59 · answer #6 · answered by shrdlu 4 · 2⤊ 0⤋