We had a pretty intense hail storm a few months back, and we have finally gotten around to submitting it to our insurance to get it fixed. The vehicle is a 2020 Expedition that we plan to keep for a while, it also has a loan on it. After getting estimates and submitting it to our insurance, the cost was much higher than we expected, at around $8,000. The damage is mostly small dents, with a few larger dents in the hood. Can we decide to not have the vehicle repaired and just keep the money instead? I understand that the value of the vehicle will be less when we decide to sell it, and also that we probably won't be able to make another hail claim without proof that this one was repaired. Are the any other potential issues?
What happens to my insurance policy if a make a hail damage claim, but don't repair the vehicle?
byu/PrimaryThis9900 inInsurance
Posted by PrimaryThis9900
2 Comments
Your insurer will either refuse to allow your to keep comp/collision on your policy or make note that you have unrepaired damage and any future claim will be reduced accordingly.
If you have a loan on it, gonna have to repair it. Check will be in your name and lien holder’s name. Or direct to shop unless your state is a lot different