If I repaired my own car after an accident, am I entitled to all of the settlement proceeds?

I hit a raccoon in my car and it did considerable damage. I wanted to do the work to fix it myself. The insurance company and bank said that would be fine. Insurance issued a check to me and the bank. The bank said to fix it and then send them the receipts, estimate, check. I fixed it out of pocket and was able to save some money on parts. I faxed everything to the bank as requested and now they want to keep part of my money. Insurance said I was entitled to labor but the bank wants to keep that. Can they do that? Are they allowed to keep any of the check?

Asked on May 23, 2012 under Insurance Law, Colorado


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Contact your insurance company and file complaints with the state department of insurance and the state banking department as well as the attorney generl's office.  I hope that you have a good record of who told you what here. ANd read your insurance policy.  If all is on the up and up  then I think that once the dust settles you will come out on top.  Good luck.

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