Can I cash an auto insurance check written out to my leinholder and myself?

Question

I got in a small accident and was issued a check from my insurance co. My family is really short on cash right now and we were thinking the best thing to do is leave the damage on the vehicle and spend the money on food. Is this possible? Can I cash a check with my Lienholder (who is my bank) on the check aswell?

Answer 1

If someone else is on the check, you should not be able to cash it. You could certainly ask your insurance company to issue the payment to you directly. However, chances are that they included the leinholder intentionally to "force" you to fix your car.  Many states don't require you to make repairs, but since you have a loan on the car, that damage reduces the value of it, and if you stopped making payments, then the bank would be owed the repair costs too. The insurance company could be forced to pay twice if they didn't put the bank's name on the check.

It can't hurt to ask them to reissue the check, OR, call the bank and ask them if they'll sign the check without repairs being made.

Answer 2

Get an estimate for the damages.... take that WITH YOU when you go to your leinholders office.

They should "trustingly" sign off on the check and assume you will get the damages fixed - because you have an estimate!!

Then you're free to spend it on what-so-ever you want to!

Answer 3

I've never seen an insurance check issued to anyone other than the car owner.  I've never seen the bank listed on it.  I would ask the insurance company to reissue the check.

Answer 4

Yes that is posible. To cash the check into your account. But when it comes to fixing the car or what ever you will have to do that out of your own pocket.

Answer 5

No, the lienholder has to sign off on it before you can cash it.

Answer 6

not possible