canadian insurance question

Spoken

Spoken

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Girlfriends car got wrecked. If fixing the car is more money than the cost of thr car, what will they do?
 
Canadian insurance salesman.

tumblr_kpfq2cezHp1qa2pqoo1_500.jpg
 
In the US they pay you the blue book value of the car.
 
I'm not a groundhog expert, but dealing with insurance this past summer when an idiot totalled my motorcycle...

they'll give you what they think the car is worth (what they would get from a salvage yard, not the wholesale value) + HST.
alternatively, you can also choose to buy it back and fix it yourself, at that point you'll get just the value of the car itself. the car will get a 'totalled' title. if you can fix it yourself, get it safetied and road-worthy, you can get it plated and back on the road (the totalled title will follow it forever though, so carfax/carproof will display that), and pocket the rest of the money.

unless you're driving around in a rare car... just take the insurance money.

*edit* - sometimes they'll low ball you on an offer.. if you can prove your car is worth more than they think (going rates in your local market [autotrader/kijiji]).. you can usually squeeze a few more $$$ out of them.
 
Spoken said:
Girlfriends car got wrecked. If fixing the car is more money than the cost of thr car, what will they do?
Click to expand...

They write off the car and write you a cheque for the book/market value of the car. You can negotiate this amount btw if they lowball you, you are entitled for the replacement amount that people are currently selling the same model/year/mileage car for locally.
 
After the accident, an insurance claims adjuster will inspect your vehicle and determine whether it can be repaired or whether it is labelled a "total loss". A vehicle is considered to be a total loss (or a write-off) when the cost of repairs is greater than the current value of the vehicle. It may also be considered a total loss if the necessary repairs can’t be carried out safely or economically.
If you’re in an at fault accident, and you have purchased Collision coverage, and your policy is in good order, your insurance company will pay for the cost of replacing the vehicle based on its current value, minus your deductible. If you’re not at fault you are covered under the Direct Compensation coverage of your policy.
Click to expand...

http://www.insurancehotline.com/my-vehicle-is-a-writeoff-now-what/

Appears to be a Canadian site since it keeps mentioning Canada.
 
Depends on your insurance man, and who was at fault. Give me the details, I'll give you the answer.
 
philth said:
I'm not a groundhog expert, but dealing with insurance this past summer when an idiot totalled my motorcycle...

they'll give you what they think the car is worth (what they would get from a salvage yard, not the wholesale value) + HST.
alternatively, you can also choose to buy it back and fix it yourself, at that point you'll get just the value of the car itself. the car will get a 'totalled' title. if you can fix it yourself, get it safetied and road-worthy, you can get it plated and back on the road (the totalled title will follow it forever though, so carfax/carproof will display that), and pocket the rest of the money.

unless you're driving around in a rare car... just take the insurance money.
Click to expand...

The car is a piece of shit... like, a HUGE piece of shit. The car drives still, but there is a new funny noise a broken windshield (and whatever part of the body is broken).

Her and the roommate that share the car kind of need it, however. So if they took the salvage price, they'd be in trouble.
 
Spoken said:
The car is a piece of shit... like, a HUGE piece of shit. The car drives still, but there is a new funny noise a broken windshield (and whatever part of the body is broken).

Her and the roommate that share the car kind of need it, however. So if they took the salvage price, they'd be in trouble.
Click to expand...

So did she drive the car away from the accident? Was she at fault? Does she have collision or just basic insurance?
 
Tomax said:
Depends on your insurance man, and who was at fault. Give me the details, I'll give you the answer.
Click to expand...

early 90s POS honda, not sure which part of the body is busted (quarter pannel is my assumption). Broken windshield, and it makes a funny noise. Roommate drove it away from the accident (GF wasn't in the car)
Wasn't her fault.

as for her kind of insurance, I don't know.
 
Spoken said:
The car is a piece of shit... like, a HUGE piece of shit. The car drives still, but there is a new funny noise a broken windshield (and whatever part of the body is broken).

Her and the roommate that share the car kind of need it, however. So if they took the salvage price, they'd be in trouble.
Click to expand...

they'll more than likely total it then and offer you a low-ball... when the adjuster see's the cracked windhsield and that it's a POS, he may not be too kind with his 'adjustment'.

they totalled my bike with just a few scratches and a dent in the tank.

I was lucky though, I acutally made a little over $1000 (paid $4000 for the bike and got a $5200 offer).. I was shocked to say the least.
 
Spoken said:
early 90s POS honda, not sure which part of the body is busted (quarter pannel is my assumption). Broken windshield, and it makes a funny noise. Roommate drove it away from the accident (GF wasn't in the car)
Wasn't her fault.

as for her kind of insurance, I don't know.
Click to expand...

If she only has basic insurance, her plan will NOT cover her car. If she has 'collision' she will be covered.

http://www.icbc.com/autoplan/optional/optional-vehicle/collision

If she was not at fault and only has basic insurance, the party at-fault's insurance will cover the damage.

If damage estimates exceed ICBC's valuation of the car, they will pay her what the car is worth, but she will have to give up the car.
 
Tomax said:
If she only has basic insurance, her plan will NOT cover her car. If she has 'collision' she will be covered.

http://www.icbc.com/autoplan/optional/optional-vehicle/collision

If she was not at fault and only has basic insurance, the party at-fault's insurance will cover the damage.

If damage estimates exceed ICBC's valuation of the car, they will pay her what the car is worth, but she will have to give up the car.
Click to expand...

So no matter what, she's going to fine.
Tomax, I would cuddle you naked right now. Or buy you a beer next time I'm in BC... but that would be creepy.
 
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