I was recently involved in an accident with an uninsured driver, and my insurance covered the claim under comprehensive damage. They quoted the repair cost at $1600 and deposited $1100 into my bank account after I informed them of the repair shop I chose.
I just picked up my car and was only charged $500 for my deductible. The receipt states that I owed $500, while my insurance covered $2800.
Did I receive too much in my insurance payout? Has my insurance already settled the payment with the repair shop, or should I expect to be contacted regarding the amount I received?
It sounds like your insurance process has gone a bit differently than expected, so let’s break it down.
Understanding the Payments: Your insurance deposited $1100 into your account, which might have been your initial claim amount or an advance on the total. The car repair shop charged you $500 as your deductible, which means your insurance is covering the rest of the repairs.
Insurance Payment to Repair Shop: If the receipt shows that insurance paid the repair shop $2800, it’s likely that this is the total amount covered by your insurance after applying your deductible. Since you only owed $500, it seems that your insurance actually covered the full cost of the repairs minus the deductible, which is standard practice.
Overpayment: You aren’t necessarily overpaid since the amount you received initially (the $1100) likely does not need to be ‘paid back’ if the insurance has settled the full amount directly with the repair shop. However, you should confirm with your insurance provider as they may have intended for you to receive only what you needed to cover your deductible.
Next Steps: It’s advisable to contact your insurance company for clarity. Ask if they have already paid the repair shop and confirm what the $1100 deposit represents. They should ensure that all amounts are accurate and that you are not penalized for charges that may not be accurate.
Overall, a quick call or email to your insurance company should help clear up any confusion!