Question:
About 5 months ago, my vehicle was hit in a parking lot leaving a big dent on the driver's side. The person who hit the car was kind enough to stay and contact his insurance company to file a claim. His insurance company appraised the damage, sent me a check, and told me it's mine to do with as I wish (I could keep it or use it for repairs). I decided to keep it and not repair my vehicle. Now, I am looking at selling my car but I would like to repair it first to increase its value. Could I file a claim with my own insurance company since it was not my fault? Would I have to pay the deductible? The deductible is about $500 and the estimated damages from the previous appraisal was at $2500.
Answer:
You would be committing fraud if you file a claim after settling with the other driver's insurance company.
By accepting the money from the other ins co. you waived all rights to further claims for that incident. If you filed with your company, they, in turn, would go after the other insurance company to collect their expense (subrogation), and your double-dipping would be discovered..
DON'T DO IT
.
Uhhhh, HELLO!
Can you say Insurance Fraud?
You were already paid for this damage.
No, that would be fraud. You have been paid for the damage, and chose to not fix it. Now you will have to sell it for a lower price, or keep it.
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