Andybarbet
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 posted on 30/4/10 at 03:08 PM |
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Car Insurance payout - TWICE ???? Help !
Ok guys, strange question this.
This morning I received my £2000 cheque from MY insurance company for the settlement value of our Landrover which was written off 2 weeks ago when I
was hit from behind at a roundabout. They have also told me to send back to them the V5 so that they can scrap the landrover due to the fact that I
have had a full payout, the landrover is now their’s.
Chuffed that I received the cheque because I have put a deposit down on a replacement car which I’m picking up on Friday 7th May. We are also happy
with the £2000 price for our landrover.
I have banked the cheque this morning so should be cleared in time for the new car arrival.
My dilemma is :
I just popped home for lunch & another cheque has come from the insurance company of the woman who hit us ! This one though is valued at £1540
with me keeping the Landrover as salvage.
I was told initially not to talk to her company and for my insurance to deal with it fully. My problem now is that I don’t want anything to hold up my
£2000 payout due to needing the replacement a bit sharpish,
Do I just send the £1500 cheque back to her insurance company to let them know ive been payed by mine or do I send it to my insurance company and let
them deal with it ??
Another option is to cash both and jump country  but on a serious note, im not doing that !
Any ideas would be welcome,
Cheers Andy
Give a man a fish & it will feed him for a day, give him a fishing rod & you've saved a fish.
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doddy
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| posted on 30/4/10 at 03:16 PM |
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i would wait for your 2k to clear in you bank so you have it then ring your broker and ask them
[Edited on 30/4/10 by doddy]
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eznfrank
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| posted on 30/4/10 at 03:19 PM |
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Your insurer will at some poitn be writing to the other parties insurer for reimbursement of their outlay, once they find out you've been paid
twice they'll be wanting their ££ back.
My advice would be send back whichever one is less favourable to you
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MakeEverything
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| posted on 30/4/10 at 03:21 PM |
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Hand the £1500 cheque to YOUR insurance company bud. Sounds like they are trying it on, and if you give it to your insurance company, then you have
been honest with yours which is all that counts.
Kindest Regards,
Richard.
...You can make it foolProof, but youll never make it Idiot Proof!...
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55ant
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| posted on 30/4/10 at 03:22 PM |
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i wouldnt send anything back, if they cant organise between them what they are sending out they may not be able to figure out whats coming in. keep
the cheque, dont cash it, but let both insurers know now, then its up to them.
away from cars, now cycling and building TT bikes
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ashg
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| posted on 30/4/10 at 03:29 PM |
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cash it you know you want to 
Anything With Tits or Wheels Will cost you MONEY!!
Haynes Roadster (Finished)
Exocet (Finished & Sold)
New Project (Started)
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fesycresy
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| posted on 30/4/10 at 03:42 PM |
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You cash the £2k, wait for it to clear.
Wife pays in the £1.5k.
-----------------------------------------------------------------------------------------------------
The sooner you fall behind, the more time you'll have to catch up.
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Confused but excited.
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| posted on 30/4/10 at 03:50 PM |
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I personally would assume that they had done a deal between them and agreed to each make a part payment. So therefore I would cash both and act daft.
Tell them about the bent treacle edges!
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steve m
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| posted on 30/4/10 at 03:53 PM |
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cash both cheques, it there mistakes, and will take months if not years for then to find out, but when one of them comes asking fo their money give it
straight back, with no arguments
effectivly they have loaned you money
steve
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steve m
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| posted on 30/4/10 at 03:54 PM |
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"I personally would assume that they had done a deal between them and agreed to each make a part payment. So therefore I would cash both and act
daft.
"
as i hit send, i was thinking on similar lines, so yes cash them in, or send one to me and i will
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Simon
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| posted on 30/4/10 at 03:57 PM |
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quote:
Originally posted by eznfrank
Your insurer will at some poitn be writing to the other parties insurer for reimbursement of their outlay, once they find out you've been paid
twice they'll be wanting their ££ back.
My advice would be send back whichever one is less favourable to you
I agree entirely. Sorry to be a bore
ATB
Simon
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Irony
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| posted on 30/4/10 at 04:26 PM |
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I would put both in the bank. They will of course perhaps want the money back but it will take months. Whilst you are collecting interest on it.
Wahey!
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Hellfire
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| posted on 30/4/10 at 04:42 PM |
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Stick the £1,500 in the bank but don't spend it...... and wait for the insurers to realise their error (if they ever do)
Phil
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r1_pete
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| posted on 30/4/10 at 04:45 PM |
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Ring or write to your insurance company before you do anything, that £1540, probably should have gone to your insurer not you.
Dont give them any reason to doubt you, if on renewal they decline your business, you have to answer "yes" to future questions 'Have
you ever been refused insurance" and £1500 just isn't worth it.
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morcus
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| posted on 30/4/10 at 04:54 PM |
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As above, call your insurance company and ask them what you should do with the £1500, remember to tell them you don't know why you got it.
Be careful, Insurance companies usually have very good lawers.
In a White Room, With Black Curtains, By the Station.
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AndyW
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| posted on 30/4/10 at 06:10 PM |
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Do not do anything with it, speak to your insurance company. Banking the cheque may been seen as accepting there offer for you to retain the car as
salvage and then for you to accept a cheque from your company to write off the vehicle is actually fraud. So be very careful what you do. If in any
doubt ask the poeple who know, thats the insurance company and no one else.
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scootz
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| posted on 30/4/10 at 06:15 PM |
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quote:
Originally posted by r1_pete
Ring or write to your insurance company before you do anything, that £1540, probably should have gone to your insurer not you.
Dont give them any reason to doubt you, if on renewal they decline your business, you have to answer "yes" to future questions 'Have
you ever been refused insurance" and £1500 just isn't worth it.
+1
Don't try to be clever about this... flag it up to both insurers. They will cotton on at some point and the potential fall-out from it is not
worth it!
It's Evolution Baby!
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BenB
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| posted on 30/4/10 at 06:53 PM |
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That's a tricky one..... I'd probably send it back. As said your company will ask their company for the money and the whole shebang will
be revealed. It's not like you'ld receive a cheque for that much and not bother to find out who sent it to you and why (ie playing dumb
won't help).
If you cash it you could end up with your insurance company asking for their £2000 back....
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Ninehigh
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| posted on 30/4/10 at 07:03 PM |
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quote:
Originally posted by morcus
As above, call your insurance company and ask them what you should do with the £1500
I can tell you right now what your insurance company will say "send it to us we'll pocket, I mean sort it out"
Cash both but stick her one into an isa, so if they do find out at least you've pocketed some interest.
Oh yeah and play proper dumb, if someone sent me a cheque for a grand and a half I'm not asking questions...
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mad4x4
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| posted on 30/4/10 at 07:31 PM |
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Stick the Cheque to the FRIDGE Then call your insurance and tell them.
DO NOT CASH IT. You may be accepting it unknowingly.
Scot's do it better in Kilts.
MK INDY's Don't Self Centre Regardless of MK Setting !
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Danozeman
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| posted on 30/4/10 at 09:14 PM |
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I wouldnt cash it. Insurance companies are crafty bastards. Send it back and ring your insurance and tell them whats happened. You shouldnt see any
of the dealings with there insurance only yours.
Dan
Built the purple peril!! Let the modifications begin!!
http://www.eastangliankitcars.co.uk
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rusty nuts
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| posted on 1/5/10 at 06:51 AM |
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Let your insurance company know , you don't want problems later .
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