by akb5656 » Sat Mar 02, 2013 06:35 am
The car I am lien holder on has been wreaked and damaged several times, I have not received any payment either. If I repo the car is the buyers insurance responsible for fixing the car? And will I have to pay their deductable
Posted: Sat Mar 02, 2013 02:59 pm Post Subject:
If I repo the car is the buyers insurance responsible for fixing the car?
Only to the extent of what's covered under the policy. Is each small dent a separate occurrence (deductible applies per occurrence), were the damages intentional, will the policy holder cooperate with the insurance company, etc. All of these things come into play.And will I have to pay their deductable
A deductible is not "paid". The payment made by the insurance company is made less the deductible amount. Also, that check would have your name on it (if you are listed on the insurance policy as the lien holder) as well as the insured's name.
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