So your car or truck has been damaged by hail. Should you get it fixed?
This is a common question we hear in our Oklahoma City PDR shop. Pocketing the money might sound like a good idea now but could cost you much more in the future.
FYI: With any vehicle that is still under lien, the insurance company with distribute a check one of 3 ways.
- To you AND the lien holder (whomever you are making your monthly payments too.)
- To you AND the repair shop.
- To you.
Most insurance companies will make you pay a deductible on an Auto Hail Repair claim. IntelliDent takes care of up to $500 of the deductible for a complete repair job!
You run the risk of loosing your “Full Coverage” status.
Automobile Hail damage is covered under the Comprehension Insurance coverage that is included with full coverage. If you don’t fix the hail damage and pocket the cash, the insurance company won’t allow you to continue comprehension insurance on your vehicle. They do this In order to protect themselves from paying-out for existing damage on a NEW claim.
For example, if another hail storm hits (as it happened recently in Oklahoma City) how would the Insurance Company know if the new storm damaged the vehicle vs the prior storm unless you use the initial insurance payment to fix the existing damage.
This is really the only way an Insurance Company can verify that the initial damage had been fixed.
The Re-Sale or Trade-In Value goes down significantly.
This auto hail damage account comes from an actual Oklahoma City IntelliDent Paintless Dent Repair customer.
“Our initial insurance estimate and check was for around $5500 . . . the damage was pretty severe. My wife and I had intended to keep this particular car for a long time so I had planned on getting it fixed. Because I was curious, I took the car to a local dealership to get the trade-in value. They offered me $18.5k. I was quite surprised as the Kelley Blue Book Value posted the trade-in value closer to $25k. Despite the hail damage, the car was in PERFECT condition and had low mileage. We changed the oil regularly and brought it in for every manufacturer suggested maintenance. I even walked around to see how they had my exact make / model priced on the lot. The sticker price was anywhere between $23K – $26k.
IntelliDent repaired my car and when I got it back, it looked like it did when I drove it off the lot. We are very pleased with the work done and would do it again.”
The value of any automobile is determined by taking the market value minus the cost of un-repaired damage.
Insurance Claim Check for Auto Hail Damage. Get Repairs or Keep Money?
Although it might seem very tempting to pocket the money instead of getting the hail damage on your vehicle repaired, we highly suggest that you DO NOT do this. If you have any questions or additional concerns, give us a call.