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Insurance paid estimate, what if it costs less to fix?
My friend got into an accident and was paid an estimated value to fix by the other guy's insurance.
He was able to find some local shop where the cost to repair may be less than the check he already cashed it. He did get a car rental as a loaner. His concern was, does the insurance companies get the body shop info from the car rental company and then call the body shops to make sure the car was fixed at the location and do they check how much did it take? And what if they figure out they paid more than the car got fixed for?
Your friend is free to do as he pleases with the money. The money is in settlement for his damages, and if the damages are not as much as the insurance company paid, then they over paid for the claim.
Your friend was also inconvenienced by the accident and the insurance company paid as they believe the damages are. If he is able to get a discount then he gets the windfall.
There is nothing wrong with this, so even if they found out, there is nothing to hide. He got a good deal on the repairs and the insurance company paid per their estimate.
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