Coverage & Claims

Are insurance proceeds taxable?

Thanks for your question. In general, insurance proceeds are not taxed.

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Coverage & Claims

My car was stolen and taken to Mexico. Can I just get a payout instead of getting the car back?

Hello, Sorry to hear about your situation. Unfortunately, I don't know if I can give much advice, as this is a claims-related question.

Coverage & Claims

How long can an insurance company wait to pay out your claim?

Virginia law does not specify an actual time frame for a claim payout but simply requires that insurance companies pay claims in a reasonable time. Most insurance companies want to close claims as quickly as possible, however, so you may want to contact that company directly to ask if they have an estimated date of the payout.

General Insurance

If my husband totaled our car, will I get 50% of the payout from the insurance company?

You would have to take up with your husband or an attorney since this is probably a legal issue. The payout from the insurance company goes to the primary named insured on the policy.
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