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Can I continue with an insurance claim after an accident if I sell my car?
I was in an accident and the car suffered some damage. I immediately filed a claim to get money for the repairs. However, my friend needs a car and is fairly handy with DIY mechanical repairs. Can I continue with the claim even after I sell my car to my friend?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“For the sake of recouping the most money for your vehicle, you probably should not sell your car until after the insurer’s investigation is over and you have a check in your hand.
If you sell your car beforehand, your insurer can’t get an estimate for the repairs on the vehicle, or determine whether or not the vehicle is considered totaled, or handle other vital aspects of the investigation.
So could you sell your car during the insurance claim process? Absolutely. But understand that if you do so, you’re probably going to take a substantial hit on the amount that you would’ve received for the car after repairs or the investigation’s conclusion.
Furthermore, if you’re financing the car, will you still owe money on it even if the insurance company cuts you a check? If so, you might want to consider getting
gap insurance
in the future to cover the difference between the fair value of the car and how much you owe on the loan. Hope this helps!”View full answer
- Gregory R.
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