REVscene - Vancouver Automotive Forum

doritos · 01-09-2017, 10:24 PM

Just wondering what is the better option? my friend is paying two way insurance which is more expensive but when she got into an accident with someone, icbc had put her at fault and wants her to pay 1000 or 2000$ to keep her rates the same and she has to cover her own damages? what is the point then?

Razor Ramon HG · 01-09-2017, 10:28 PM

If you are found at fault, you have to pay..?

fliptuner · 01-09-2017, 10:34 PM

She has the option of letting her premiums go up or paying out the claim.

doritos · 01-10-2017, 12:06 AM

Quote:

Originally Posted by fliptuner

She has the option of letting her premiums go up or paying out the claim.

yeah what is the point of paying insurance for two way party when she gets in an accident, found at fault and has to pay for her own damages and not covered. what is the difference between those two options. One way party insure and two way party insure?

fliptuner · 01-10-2017, 12:14 AM

One way, two way.... are you asking about collision coverage?

If she has collision and gets into an accident, that's her fault, insurance will fix both cars and her premiums will go up. If the accident is small, sometimes it's cheaper to just pay out the claim.

If she doesn't have collision, they'll only pay to fix the other car and her premiums will go up.

Lomac · 01-10-2017, 12:17 AM

Quote:

Originally Posted by doritos

yeah what is the point of paying insurance for two way party when she gets in an accident, found at fault and has to pay for her own damages and not covered. what is the difference between those two options. One way party insure and two way party insure?

One way covers only the person you hit. Two way covers your car as well.

Basically, anyway.

Think of it this way: If you're in an at-fault accident under two way insurance, both cars will get repaired. However, because you're now considered a possible insurance risk, your premiums will go up. You can stop those premiums from rising by paying, what is essentially, a fine. That fine is usually the cost of the car repairs.

Remember, insurance isn't necessarily there to cover the costs of repairing cars. It's mainly for liability should you cause a million dollar lawsuit stemming from an accident (I've witnessed this first hand through a good friend's parents.)

fliptuner · 01-10-2017, 12:23 AM

That's why lomac pays so much for comprehensive

corollagtSr5 · 01-10-2017, 12:49 AM

Quote:

Originally Posted by doritos

yeah what is the point of paying insurance for two way party when she gets in an accident, found at fault and has to pay for her own damages and not covered. what is the difference between those two options. One way party insure and two way party insure?

She doesn't have to pay for the accident with two way insurance. For causing an accident you get the choice to pay out the damages or get increased insurance rate. Do you want to get raped once and keep your discount or get raped every three months to a year for the next few years. That's the choice you get with two way insurance. He thinks if you pay for two way insurance you can play unlimited bumper cars without paying out for the damages.

doritos · 01-10-2017, 02:50 AM

Quote:

Originally Posted by corollagtSr5

She doesn't have to pay for the accident with two way insurance. For causing an accident you get the choice to pay out the damages or get increased insurance rate. Do you want to get raped once and keep your discount or get raped every three months to a year for the next few years. That's the choice you get with two way insurance. He thinks if you pay for two way insurance you can play unlimited bumper cars without paying out for the damages.

so basically, one way=no choice therefore not many ppl have that coverage. Are there any benefits to having one way?

quasi · 01-10-2017, 05:28 AM

Quote:

Originally Posted by doritos

so basically, one way=no choice therefore not many ppl have that coverage. Are there any benefits to having one way?

Jesus Christ Gump, did you even read what Lomac wrote? The main difference is will the insurance company repair your car if at fault or not. Let me try and break this down in terms you'll understand, probably not possible but I'll try.

If you cause an accident and are found to be at fault with one way insurance your vehicle will not be repaired by insurance and your premiums will go up if you don't pay the damages for the other vehicle. You are responsible for fixing your own vehicle, if it's totaled you are have to replace it yourself.

If you cause an accident and are found to be at fault with two way insurance your vehicle will be repaired by insurance and your premiums will go up if you don't pay the damages for both vehicles.

The main difference is will the insurance company pay to fix your vehicle or not.

corollagtSr5 · 01-10-2017, 09:48 AM

Quote:

Originally Posted by doritos

so basically, one way=no choice therefore not many ppl have that coverage. Are there any benefits to having one way?

You save money on insurance. Let's say you have dash cam, where you can prove every accident is not your fault, the other persons insurance will always fix your car. Plus there are times your car is so crappy it doesn't deserve two way. You can also pick and choose accordingly by weather. Is it winter with snow, is some idiot going to slide into my parked car, am I going to rear end someone with no snow tires on. During those months buy the extra shit. It's like winning the lottery. Sometimes you win sometimes you lose. Bam headshot my dash cam caught the guy who hit and ran my parked car. With insurance you always lose, just lose accordingly.

freakshow · 01-10-2017, 11:53 AM

Think of this as two separate things:

A) If you get into an at-fault accident, and have insurance coverage, either you pay for all the damage, and your premiums do NOT go up, OR insurance pays for the damages and your premiums go up. If you have no coverage, you just have to pay, that should be obvious.

B) A separate issue: Do you have coverage or not?
"one way" (collision) coverage covers the person you hit, and is mandatory from ICBC.
"two way" (comprehensive) coverage covers your own car, and is optional from ICBC.

Fafine · 01-10-2017, 01:56 PM

Quote:

Originally Posted by freakshow

Think of this as two separate things:

A) If you get into an at-fault accident, and have insurance coverage, either you pay for all the damage, and your premiums do NOT go up, OR insurance pays for the damages and your premiums go up. If you have no coverage, you just have to pay, that should be obvious.

B) A separate issue: Do you have coverage or not?
"one way" (collision) coverage covers the person you hit, and is mandatory from ICBC.
"two way" (comprehensive) coverage covers your own car, and is optional from ICBC.

i always thought even if you dont have collision coverage and youre at fault. your basic insurance + third party will cover the other persons- you can then choose to pay for the dmg and or simply let icbc pay and the prem go up. Without collision coverage and your car was in an at fault accident, your car will not be covered at all from icbc, neither are the tows and tow yard fees.

With collision coverage, it covers your own car as well if youre at an at fault collision. same as above pay or raise prem.

comprehensive should cover things like theft, vandalism and etc. -nothing to do with collision.

Also believe if you have collision coverage and your car was in a hit and run. simply pay the deductible and icbc will foot the rest.
however if you dont have collision and u got hit and run, your SOL

edit basically what quasi said. LOL

Verdasco · 01-10-2017, 03:09 PM

so is this how it works? correct me if i am wrong

one way - you hit other guy, you pay for damages or let your insurance go up to fix the damages AND you fix your car yourself with your own money ?

two way - you hit other guy, you pay for damages or let your insurance go up to fix the damages AND ICBC fixes your car?

Berzerker · 01-10-2017, 03:18 PM

Quote:

Originally Posted by doritos

so basically, one way=no choice therefore not many ppl have that coverage. Are there any benefits to having one way?

It's cheap. If you don't care about your own car or the value is so low that a collision isn't worth the deductible you can save money, over time, rather than paying collision. If you are confident in your driving and "know" you won't be in an at fault collision you can save money. You will have to factor in, over time, what the dollar value vs. peace of mind is worth to you.

If you save $30/month having basic that equates to $360 per year. If you drive 5 years without an at fault accident you save $1800. If your car is only worth $1500 you just made money. However if your vehicle is worth more and you crash, you`ll be out the repair cost or if it`s a total loss you will be out a vehicle.

Berz out.

Nlkko · 01-10-2017, 03:26 PM

Your rates will always go up if you are at fault if you don't pay the damages.

1 way - ICBC won't fix your car.
2 way - ICBC will fix your car.

Why pay 2 way: For an option to pay only the deductible to get your car fixed instead of the entire amount. You are paying a premium for a potential smaller up front cost.

corollagtSr5 · 01-10-2017, 05:01 PM

Quote:

Originally Posted by Verdasco

so is this how it works? correct me if i am wrong

one way - you hit other guy, you pay for damages or let your insurance go up to fix the damages AND you fix your car yourself with your own money ?

two way - you hit other guy, you pay for damages or let your insurance go up to fix the damages AND ICBC fixes your car?

Two way you gotta pay out the damages on your car as well if your at fault and don't want your rates to go up. You could pay the deductible and have your insurance rise.