Coverage & Claims

Can an insurance company recant liability and ask for a refund one month after paying me for damages to my vehicle?

I have not heard of a claim decision being reversed and asking for the claims payout money back. They should be providing you with evidence of why they are refusing to pay the claim — if you haven't asked for this already, you should demand it.

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Coverage & Claims

Can I dispute the payout amount my insurance company wants to give me?

Actual cash value (ACV) from your insurance is not the same as an adjusted amount — it's an estimate on their books. I would get another person to look at the vehicle and get another opinion on the adjustment to make sure it was accurate before trying to fight the claims department. If you have any questions, don't hesitate to ask.

Coverage & Claims

Are insurance proceeds taxable?

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

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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