To make Insurance Claim or not - cost $2000.00

[JCWP]

 

[Rruuff Day]

Yes, I asked the member that because supposedly they were denied insurance after having 1 broken window claim. It would be beneficial to find out what insurance companies denied insurance and/or a copy of the letter denying insurance.

In Ontario "The insurance company must inform you in writing of which rule or rules it has applied to deny coverage." (FSCO)
and even an at-fault accident that is less than $2000 (minor accident at-fault) cannot be used to increase premium. so it seems unlikely the insurance company could raise the premiums let alone deny insurance.

Yes. And I noticed he either missed or dodged the question as well. Over 40 years with the same insurer, I have had no at fault accidents. I have been rear ended twice and have had two major hail damage claims to the tune of just under $8,000 each time. My wife did back into my buddies parked truck which we put through insurance but it was a free accident due to my long term with the company. My insurance had a couple small spikes after the last monster hail storm and then my premium has been reduced slightly the last couple years. I just received my statement a few weeks ago for 2022 and my premium went down nearly 15%. That is the reason I asked which company he was with that treated him that way.

 

[Murray20c8]

The only issue could be if he was put on the nuisance list. My neighbour back in Markham tripped on my property over his two large feet and wanted me to make a claim against my insurance. I was really pissed off, but my insurer said it was a lot better to simply pay him a settlement, BUT he was put on a nuisance list because of the amount of claims he'd made over the years. (And it was a ton) his rates soared and he had no choice but to pay it.
Hopefully an honest insurer wouldn't do that out without good reason, but it could be done. A call to the Insurance Bureau of Canada can help.
I was lied to by CIBC insurance they said it was a law and I needed a certification on my car. IBC provided me with the correct answer with which I then confronted CIBC. When they stood by their answer I provided the response from IBC and they said, oh, well, yes that is correct. I then canceled my insurance with them and went with Statefarm and never looked back. Banks are money grubbing scum bags,. but I digress. lol

 

[QT_C8]

So WHO your insurance company?. They are not all like that.

For the record, that was a long time ago and the insurance company was Allstate.

 

[Murray20c8]

For the record, that was a long time ago and the insurance company was Allstate.

Allstate are scumbags.

 

[Cariboocreek]

Allstate are scumbags.

All insurance companies are scumbags. They all take your money promising rainbows and unicorns when the inevitable happens. When the inevitable actually happens you realize that you have been forced to become a mythical warrior fighting the Medusa.

Without the allegory, they rate your risk based on closed and non-transparent internal rules. If you wear plaid on a Friday evening between 6pm and 9 pm while ordering take-out pizza and drinking rosee, you are now rated as a risk and can only overcome the risk by paying an additional $49 insurance rider. Who would have known?

The intricate web of legislative government mandates, insurance company ownership (like big banks who force you to insure your mortgage and your house), and insurance company profits, makes one wonder about the relationship between the private and public sector.

 

[Murray20c8]

When I rolled my Camaro on black ice, Statefarm stepped up. There were 3 2000's on Autotrader and they gave me the middle price. No arguments. I then bought the cheaper of the three and used the rest for heads and cam. Bought back the junker from Statefarm and parted it out for a lot more than I paid for it

 

[68Rodzilla]

I worked nearly 50 years as a property and casualty insurance broker, representing literally hundreds of insurance companies. Given the size of the claim and type vehicle, I personally would bite the bullet and pay for the damage myself. Not knowing your age, but assuming that you are on the more mature side of life to be able to afford a C8, insurance companies typically underwrite more cautiously as drivers age. After age 70, it becomes increasingly difficult to find a new insurer and/or affordable rates. I carry minimum $1000 deductible on all my vehicles and home, and would not even consider turning in an at-fault physical damage claim less than $5K. In the long run, it's better to pay for the smaller claims yourself and save the insurance claims for the "big one", typically a large physical damage claim (total loss), or worse, a major liability claim that could wipe you out financially. I also recommend that you carry an umbrella policy of no less than $1 million over your basic liability coverage for your cars and home. They are not expensive and can save you from a lifetime of financial ruin. Over the years, I told many clients that there are two things that you need to know about insurance, and I wasn't being facetious: #1: You never have as much insurance as you think you have, and #2: All insurance companies are chickenshit when it comes time to pay up. Good luck!