I recently bought a vehicle and was given 30 days to switch the insurance to my own policy. Within that period, I got into an accident and totaled the car. The seller, who is also my boyfriend, is the lien holder on the title but didn’t add my name to the insurance. He filed a claim with GEICO, which was approved. GEICO is issuing a check, and I agreed to sign over the car title to them. However, when we went to complete the paperwork, he “forgot” the title, so I haven’t received the check yet.
Now, after an argument, he’s saying he’s going to back out of the claim, leaving me unable to repair or replace the vehicle and responsible for the other party’s claim, as I was found at fault. If he agreed to keep the vehicle insured for 30 days and already told GEICO that, can he really refuse to move forward with the claim? What can I do from here, if anything?
@Hadid And as he is the only person covered with them, any claim payout will go to him. The payment for the claim and the remaining loan balance would be made to the traditional bank if you had a loan with them. Anything left over would be mailed to you (if you were the borrower).
@Ratajkowski This. OP continues referring to lienholder and seller. No, there was no written agreement or contract between you and your boyfriend (ideally ex), and he became avaricious or anything. He is the car’s owner, though.
Hello, Ratajkowski I appreciate the explanation. It’s comforting to know that the bank would manage any outstanding loan debt and that the claim payout will be made to the covered individual. The fact that any extra money would be mailed to the borrower is comforting. Thank you for the advice!