If i wreck my car and your name is on the insurance whos money is it?

4 Comments

My parents gave me a car and i was involved in an accident where the other party was at fault. They pay the insurance on the car because I am a college student. It is my car, it has been my car for about two years. They claim the insurance money is their money, I say it's mine. The first portion of the check is to fix the car the second is for my medical bills, and they are claiming that the whole payout is theirs to decide what is done with it...

ITS ALL THEIR MONEY 16
HALF YOURS HALF THEIRS 4
ALL YOURS 2
GET THEIR NAME OFF YOUR SHIT 7
Help us keep this site organized and clean. Thanks!
[ Report Post ]
Comments ( 4 )
  • lc1988
    12 years ago

    If they paid for the car and the insurance...then they should get the money. Same thing happened to me with my first car. It never got fixed...they just kept the money. But I couldn't really do anything since they are the ones who paid for it. They bought me a newer a car...but I'm paying for that one. problem solved.

    Comment Hidden ( show )
    0
    0
  • joybird
    12 years ago

    The money is obviously your parents coz they didn't trust you to pay insurance or didn't want you to have that expense. They may pay to get the car fixed (or not) and I assume your medical bills will be paid. I can't imagine they will leave you to pay your medical bills!!

    If you are immature enough to even question this then no doubt your parents are right to make sure insurance is paid!! You probably wouldn't bother.

    Comment Hidden ( show )
    0
    0
  • Tisgranum
    12 years ago

    Well, it's not the insurance that your parents pay that is forking the money so, in a sense, they should have no hand in it whatsoever.

    On the other hand, it doesn't matter who's right sometimes, and you should play your cards for the better outcome. Your parents are nice enough to help you through college so why bark at the hands that feeds you.

    Comment Hidden ( show )
    0
    0
  • howaminotmyself
    12 years ago

    I hope it wasn't anything too serious and you are doing well. Insurance is a tricky business. But it doesn't sound like the car is yours outright. Part of car ownership and responsibility is insurance.

    If someone else pays, they are entitled to the part of the settlement. The other insurance company is going to pay out the claim to the named policy holder, which is not you, you are just a named driver. And if it's a "good" company, they will leave you (and your parents) out of the billing process for medical and repair bills. Now when it comes to settlement money for those obscure losses, time off work, hardship, etc...the insurance company can't force your parents to do anything with the money. And the name on the check will be theirs.

    Just try to be rational with them. Yes, they paid into the insurance, but the point is to cover losses...what exactly did they lose as a result of the accident. Good luck.

    Comment Hidden ( show )
    0
    0