Insurance claim procedure, requesting check for repair. need approval by lender?
Just had a quick question about insurance claims and self repair.
If the bike is currently financed through hsbc/yamaha. From what I understand, the check will need to be approved by the lender in order to be cashed and funds used on repairs by me.
Idk if this is some random bullshit the adjuster/shop owner told me to try and keep my bike for a month to repair, or if there is some legitimacy to their nonsense.
I had the bike shipped to a geico recommended shop so the adjuster could work together with the shop to come up with an estimate. They finalized the estimate and after reviewing the the check amount, I figured I can repair it the way I want it repaired, with the amount that was quoted. In less time then their estimated 30+ days might add.
Once i mentioned to the shop/adjuster that I may want to repair it myself, they told me that since there is a lien holder on the bike, there needs to be certain approval by the lender before I proceed to cash the check. Here in lies my question, what exactly does that mean for me? trying to repair my bike with the approved funds from my insurance company?
any body with any kinda experience that could point me in the right direction for my decision would be much appreciated.