[Ranterok]

My buddy just got into an accident in his 09 lancer. It was 100% his fault. There's damage to the passenger doors, front bumper, passenger side front quarter panel, hood, headlight. Potential frame damage + wheel/suspention damage. He has the car in a 4 year fianance and if they write off the car , what happens?
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[hk20000]

there are a few things that could happen....but somebody's gonna get a hurt real bad.

If he has full coverage + new car replacement option then:
1. get epic dinged for premium
2. get reimbursed toward another Lancer, less the amount still owing, which he continues to pay Mitsubishi's financial institute.

If he has only full coverage then:
1. get less epic dinged for premium for at-fault accident
2. Gets the car repaired if it can be done at under 85%(?) of market value of the car
if not,
2. Get a check paid out to the market value of the Lancer, pay the remaining sum owing to Mitsubishi's financial institute. The difference between the payout and Mitsubishi's remaining terms is then out of your friend's pocket.

If he has 3rd party coverage only then:
1. get dinged for premium anyway
2. gets nothing at all for the heap, and he'd either pay out of his pocket to repair the car, or scrap it. Either way he will have to honor the purchase agreement he made with Mitsubishi.

[gdoh]

if they write it off you will get paid how much icbc feels its worth and your friend may/probably will end up still paying the balance of the financing...unless you got extra insurance that pays out the difference from what icbc gave you so you owe nothing

what is your friends insurance discount at??

[Ranterok]

He has no discount, its under his mom's name, he has fullcoverage but not sure if he has the replacement car option.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

[Great68]

there are a few things that could happen....but somebody's gonna get a hurt real bad.

If he has full coverage + new car replacement option then:
1. get epic dinged for premium


If he has only full coverage then:
1. get less epic dinged for premium for at-fault accident


I don't understand how his premium would be affected any differently in these 2 cases... His level on the claim rated scale is going to go up the same way regardless if he has new car replacement insurance or not.

[dai3yuen]

ICBC will do an estimate of the vehicle. If the vehicle is deemed a write-off, then they will do an evaluation of the value of the vehicle.

If your friend has the Replacement Cost Coverage, then he will get back the same amount he paid for the car or however much it will cost to put him back in the exact same car from the dealer, whichever is cheaper (they will need to provide proof of sale documents to prove how much they paid for the vehicle)

If you friend does not have the Replacement Cost Coverage, then as I said before, an evaluation of the vehicles value will be completed and then presented to the owner of the vehicle.

If the vehicle is leased, then the cheque goes to the leasing company
If the vehicle is financed and there is a lien / outstanding balance on the vehicle, then the cheque will be in both the owners and financial institutions name
If the vehicle is neither leased or financed, then the cheque will be in the owners name

If the owner does not agree with the evaluation of the vehicle, they should do some of their own research and pull ads from papers, buy & sell, etc. etc. with vehicles that are approximately the same as theirs (same year, model, kms, options, etc.) and submit them to the estimator

[Volvo-brickster]

He has no discount, its under his mom's name, he has fullcoverage but not sure if he has the replacement car option.
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

I hope he is listed as the primary driver.

If not, and ICBC investigates , he is going to be dry raped anally

[mugentsx]

^werd

i'm going to say ass raped as well

[impactX]

Worst case scenario on top of the monetary loss? Getting charged with insurance fraud.

[umpadupa]

^ it will 80% go into investigation if
1) his mom is both the owner and principal drive
2) mom has another car which she is the principal driver for

they usually send a letter just 2 confirm that ur mom is principal driver of BOTH vehicles IF the age difference between the 2 ppl/discount of the 2 ppl has a big difference

oh ya, if they can prove ur not the principal driver, it will be insurance fraud = no claim pay out, all insurance is void, they guy he hit will basically have 2 sue for payment
not good...

[chargedpower]

there are a few things that could happen....but somebody's gonna get a hurt real bad.

If he has full coverage + new car replacement option then:
1. get epic dinged for premium
2. get reimbursed toward another Lancer, less the amount still owing, which he continues to pay Mitsubishi's financial institute.

If he has only full coverage then:
1. get less epic dinged for premium for at-fault accident
2. Gets the car repaired if it can be done at under 85%(?) of market value of the car
if not,
2. Get a check paid out to the market value of the Lancer, pay the remaining sum owing to Mitsubishi's financial institute. The difference between the payout and Mitsubishi's remaining terms is then out of your friend's pocket.

If he has 3rd party coverage only then:
1. get dinged for premium anyway
2. gets nothing at all for the heap, and he'd either pay out of his pocket to repair the car, or scrap it. Either way he will have to honor the purchase agreement he made with Mitsubishi.



total bullshit:bullshit:

How much your insurance goes up depends where u sit on the claim scale. Doesnt matter how much or what coverage u buy
http://www.icbc.com/autoplan-insurance/understand-costs/crs.pdf

[seakrait]

it likely wouldn't be insurance fraud btw, it would be breach of insurance policy. still, that means denial of coverage and out-of-pocket expenses for him (or his mom i guess). but that's if icbc thinks your friend is the primary driver. if he only drives the car occasionally and if the icbc adjuster feels generous, then he won't find your friend (and his mom) in breach of the insurance policy. the adjuster will, however, still send out a warning letter and your friend (and his mom) will have to change the insurance papers to reflect more accurately who primarily drives the vehicle.

you guys know that you can declare NO primary driver for a vehicle? you start out at the 0% discount but at least you won't be in breach like Ranterok's friend when you and your mom/dad/brother/sister share a car equally...

[umpadupa]

you guys know that you can declare NO primary driver for a vehicle? you start out at the 0% discount but at least you won't be in breach like Ranterok's friend when you and your mom/dad/brother/sister share a car equally...

sry but thats only for a company vehicle

[Volvo-brickster]

and if the icbc adjuster feels generous,

Has anyone here ever dealt with a generous adjuster?

Getting any sort of compensation from ICBC is like getting blood from a stone.

[hotong]

his insurance price is gonna get fucked

[orange7]

his mom's insurance price is gonna get fucked

fix'd

[seakrait]

sry but thats only for a company vehicle
the icbc adjuster who told me that seemed to think that it was possible.

[seakrait]

Has anyone here ever dealt with a generous adjuster?

Getting any sort of compensation from ICBC is like getting blood from a stone.

you'd be surprised. maybe not so much for material damage claims (like dented fenders, etc) but for bodily injury claims, they hand out more money than you'd think... if only to keep the file from going to trial.

ie: if they think that a judge will side with you and will give you a whole schwack of money because you've been injured from your accident, they'll throw money (obviously less than what they think the file could potentially be worth in court) at you to make sure you don't go to trial over it.

[6thGear.]

If the vehicle is leased, then the cheque goes to the leasing company



Also if the icbc payout is more than what you still owe on the car, the leasing company will refund you the difference

[seakrait]

here's a good thread about ICBC insurance and the issue of who the principal driver is.

http://forums.castanet.net/viewtopic.php?f=23&t=8248&st=0&sk=t&sd=a&start=0

[ruthless]

I got into an accident with moms car (she was principle driver, I didnt have a vehicle under my name) and they deemed me 100% at fault (fuckn left turns)....ALSO there was the 10 year minimum driver experience clause in the insurance (that we forgot to take out) so in the end we had to pay $2000 as a fine because of the 10 year driver clause....and I got a 40% premium on my insurance...so now i have to pay $5000 a year when I should only be paying 3k max

as well as they sent us a letter saying this is fraud blah blah and if we ever did something like this again they would not cover any damages to any parties and my insurance would be void

[alex.w *//]

^ ouch

pretty much op is going this route

[quasi]

I got into an accident with moms car (she was principle driver, I didnt have a vehicle under my name) and they deemed me 100% at fault (fuckn left turns)....ALSO there was the 10 year minimum driver experience clause in the insurance (that we forgot to take out) so in the end we had to pay $2000 as a fine because of the 10 year driver clause....and I got a 40% premium on my insurance...so now i have to pay $5000 a year when I should only be paying 3k max

as well as they sent us a letter saying this is fraud blah blah and if we ever did something like this again they would not cover any damages to any parties and my insurance would be void

This should be a warning to all those kids insuring their vehicles in their parents name to save money. You are going to get assfucked and if it's a really bad accident where someone else is seriously hurt you might get fucked so bad (financially) you will be fucked for life when your insurance is voided. It's so not worth it.

[optiblue]

OUCH! I just deleted my entire rant against you since you're already going to get ass raped in premiums for the next 16 years (at 5% discount / year). Sad to say, but this is going to be an expensive life lesson. The only thing I can say that might comfort you is that I have a friend that had a 100% at fault accident, and after the additional premiums, they've resorted to public transit. Your driving days for the time being could be at an end unless you can still afford it.

[FerrariEnzo]

ouch.,. yea NEVER insure a car under parents name...

i drove my moms car and got into an accident.. total loss.. the engine got fire and shit..
my mom lost her GOLD star status... felt really bad.. this was 12 years ago.. i dont think it was on my record.. maybe they changed their policy or something..

im 1 year away from my Gold Star Status so im happy.. i should be down to around $100 per month..

[_TiDy_]

OUCH! I just deleted my entire rant against you since you're already going to get ass raped in premiums for the next 16 years (at 5% discount / year). Sad to say, but this is going to be an expensive life lesson. The only thing I can say that might comfort you is that I have a friend that had a 100% at fault accident, and after the additional premiums, they've resorted to public transit. Your driving days for the time being could be at an end unless you can still afford it.


Actually, if he does not get into another accident in the next three years, his premiums will be reverted back to the level he was at before the accident, it will not take 16 years to back back to normal. On a side note, the fact that ICBC let this slide with just a fine is extremely lucky in itself, they had full rights to walk away from this since you broke a condition in the policy. Hopefully lesson learned and continue life i guess.

[ruthless]

the premium decreases by 10% for every good year of driving so my 40% premium should be gone in 4 :( but then i get 5% discount per year as well...currently got 15%

but yes i definitely learned the lesson the hard way :blushsmile:

[ruthless]

Actually, if he does not get into another accident in the next three years, his premiums will be reverted back to the level he was at before the accident, it will not take 16 years to back back to normal. On a side note, the fact that ICBC let this slide with just a fine is extremely lucky in itself, they had full rights to walk away from this since you broke a condition in the policy. Hopefully lesson learned and continue life i guess.

so your friends going to be taking public transit all his life?(nothing wrong with that btw)...since the premium is only going to decrease if he has insurance on a vehicle

[dai3yuen]

...since the premium is only going to decrease if he has insurance on a vehicle

Wrong....you will continue to get a discount even if you do not have a vehicle insured.

It does not specifically say this on icbc.com, but it says it in a round-about-way:

http://www.icbc.com/autoplan/costs/claim-record/CRS


For each year that you do not make an at-fault claim, you will move down the Claim-Rated Scale. Once you are at level -1, you will start to receive a 5 per cent discount on your premium. Every claim-free year after this will increase this discount by 5 per cent until you reach 43 per cent.

[_TiDy_]

the premium decreases by 10% for every good year of driving so my 40% premium should be gone in 4 :( but then i get 5% discount per year as well...currently got 15%

but yes i definitely learned the lesson the hard way :blushsmile:

You will be back to normal in 3 years. Quoted from ICBC site "You can regain your discount level even after a crash. After your claim, you will move one level down the scale with each claim-free year of driving. In just three consecutive years of claim-free driving you return to your pre-claim level on the scale if you had a discount, or to the base rate if you were in a surcharge position."

http://www.icbc.com/cs/Satellite?blobcol=urldata&blobheader=application%2Fpdf&blobheadername1=Content-Disposition&blobheadervalue1=filename%3D%22understand-discounts.pdf%22&blobkey=id&blobtable=MungoBlobs&blobwhere=1233968843171&ssbinary=true

[Greenstoner]

ouch.,. yea NEVER insure a car under parents name...

i drove my moms car and got into an accident.. total loss.. the engine got fire and shit..
my mom lost her GOLD star status... felt really bad.. this was 12 years ago.. i dont think it was on my record.. maybe they changed their policy or something..

im 1 year away from my Gold Star Status so im happy.. i should be down to around $100 per month..

maximum discount is 43%, i thought gold star or road star are all gonna be the same discount rate ?? no ?

[Szeto]

yeah, max is 43% and then you get one % off optional (or additional?) coverage

if he's got money then he can settle private i guess

[ruthless]

[QUOTE=dai3yuen;7033618]Wrong....you will continue to get a discount even if you do not have a vehicle insured.

It does not specifically say this on icbc.com, but it says it in a round-about-way:


[QUOTE=_TiDy_;7033857]You will be back to normal in 3 years. Quoted from ICBC site "You can regain your discount level even after a crash. After your claim, you will move one level down the scale with each claim-free year of driving. In just three consecutive years of claim-free driving you return to your pre-claim level on the scale if you had a discount, or to the base rate if you were in a surcharge position."

it says you will move down with each claim free year of driving so if he doesn't drive(no insurance) you still get 10% off the surcharge per year????

[gdoh]

pretty sure you have to have insurance under your name for a year for it to go down...y would they let you have no insurance and have you rates go down makes no sense

[ruthless]

pretty sure you have to have insurance under your name for a year for it to go down...y would they let you have no insurance and have you rates go down makes no sense

ouch first fail :(

thats exactly what im saying but dai3yuen says no :)

[gdoh]

lol and theres your second one read it again

each claim-free year of driving = driving for full year without a claim

[ruthless]

lol and theres your second one read it again

each claim-free year of driving = driving for full year without a claim

yea i agree with you, that's what i was saying, the question i posed a few posts up was rhetorical

[dai3yuen]

pretty sure you have to have insurance under your name for a year for it to go down...y would they let you have no insurance and have you rates go down makes no sense

Just because you do not have a vehicle insured in your name does not mean you are not driving.

[ruthless]

Just because you do not have a vehicle insured in your name does not mean you are not driving.

how would they(ICBC) know that you are driving when no insurance/vehicle is under your name? (not trying to argue btw)

[dai3yuen]

how would they(ICBC) know that you are driving when no insurance/vehicle is under your name? (not trying to argue btw)

They don't. They give you the benefit of the doubt that you are driving.

[umpadupa]

how would they(ICBC) know that you are driving when no insurance/vehicle is under your name? (not trying to argue btw)

cuz when u drive some1 elses vehicle and get into an accident... u gain levels again LOL

also we can look into ur insurance policy.. so we know if u took another policy out. lots of ppl try 2 cheat icbc by claims dumping, (ie>getting a moto and get the most basic insurnace on it.. then insure their actual vehicle. cuz the claims can only attatch to one vehicle at a time) its illegal btw...

[ruthless]

cuz when u drive some1 elses vehicle and get into an accident... u gain levels again LOL

also we can look into ur insurance policy.. so we know if u took another policy out. lots of ppl try 2 cheat icbc by claims dumping, (ie>getting a moto and get the most basic insurnace on it.. then insure their actual vehicle. cuz the claims can only attatch to one vehicle at a time) its illegal btw...

do you work for icbc?

cuz someone suggested that I do that..insure an old beater w/ basic insurance, then insure my normal vehicle so the 40% stays on the beater and doesnt affect the normal car

do they consider this fraud? like whats the actual term for doing this

thnx

[dai3yuen]

do you work for icbc?

cuz someone suggested that I do that..insure an old beater w/ basic insurance, then insure my normal vehicle so the 40% stays on the beater and doesnt affect the normal car

do they consider this fraud? like whats the actual term for doing this

thnx

This used to work many years ago, but it does not work anymore. ICBC closed to the loophole a while ago, and yes, this is considered Insurance Fraud.

If you were to get into an accident, you would be looking at ICBC voiding your Insurance coverage, meaning that any damages (including injuries) as a result of said accident, would be coming out of your own pocket.

Plus there have been instances where ICBC has pursued civil litigation against people who have defrauded them.

Some interesting news releases on ICBC's website:


Lessons learned from ICBC's 2009 fraud files
The high cost of lying is the lesson for March's Fraud Prevention Month

A driver crashes his car then claims it was stolen; an owner sets his car on fire then gets a bill from the Fire Department; and drivers, old and new, pay the price for not telling the truth. The high cost of lying is the lesson learned from these stories from ICBC's 2009 fraud files, which are released to coincide with March's Canadian Fraud Prevention Month.

*

"It was stolen before the crash"

One owner called police to report a stolen car - two hours after it was involved in a crash. He told police it had been stolen two days earlier but he just now noticed it was missing. His story fell apart when ICBC's Special Investigation Unit (SIU) was able to confirm that he called a taxi minutes after the crash from a nearby location. He ended up pleading guilty to driving while disqualified, hit and run, public mischief and fraud and was ordered to pay almost $50,000 for the cost of damages.

Another driver totalled his boss's truck then lied to police about it being stolen. End result: he was fined $4,000 because, as the judge said: "When someone abuses the insurance system, they are effectively defrauding their fellow citizens."
*

"It was stolen before the fire"

Two hours after his car was destroyed by fire, the owner called police to report it stolen. Evidence presented in court led to a confession that he had set fire to the car himself to collect the insurance. He was sentenced to 12 months probation, 100 hours of community service and was ordered to pay the Fire Department almost $1,000 to cover part of the cost of putting out the fire.
*

"Yes, I'm the principal operator"

A recent crash teaches us all a lesson about the importance of correctly answering the annual insurance renewal question: "Are you the principal operator?" Falsely declaring someone else as the principal operator saved one owner a few hundred dollars in premiums on a brand new vehicle, but it was totalled in a crash and now the owner is out of pocket about $50,000. Please check your policy to ensure you don't make the same costly mistake.
*

"A learner learns the hard way"

A young driver learned an expensive lesson about the perils of ignoring the requirements of the Graduated Licensing Program and then lying about it. Driving without an experienced driver over 25 in the car is not allowed for "Learners", but that was the case when the young driver crashed her father's car. To make matters worse, she lied about being alone. Witnesses told a different story which, resulted in a court-ordered payment of $26,000.

Insurance fraud is not a victimless crime; it costs each of ICBC's 3.1 million customers about $100 to $150 per year - that's why ICBC invests upwards of $8 million in fraud prevention each year.

ICBC investigated more than 2,800 cases of alleged fraud in 2009. ICBC takes all allegations seriously and follows up on all tips and information. The public can help by reporting suspicious, exaggerated or fraudulent claims to ICBC's fraud tips line at 604-661-6844 or 1-800-661-6844, toll free from anywhere in the province. Tip information is confidential and callers can remain anonymous.

http://www.icbc.com/about-ICBC/news_room/2010news_releases/mar2010#2p

[ruthless]

thanks for the info man...fuckn insurance agent was going to get me fucked over again

thnx

[Sw0op]

pretty sure you have to have insurance under your name for a year for it to go down...y would they let you have no insurance and have you rates go down makes no sense

this is not true...you dont need to have insurance under your name for it to go down

[FerrariEnzo]

maximum discount is 43%, i thought gold star or road star are all gonna be the same discount rate ?? no ?

yea your right.. haha 43% is max.. haha damn i always got the impression it gives you more discount


What is the Gold star for anyways? i looked on ICBC website, all it states is that you move 3 steps up the rate scale vs 4 steps... sounds pretty lame for such a nice title

[umpadupa]

yea your right.. haha 43% is max.. haha damn i always got the impression it gives you more discount


What is the Gold star for anyways? i looked on ICBC website, all it states is that you move 3 steps up the rate scale vs 4 steps... sounds pretty lame for such a nice title

actually u get extra discount on the side...
43% off is the basic car insurance
there are also extra discounts for ur options.. thats y a level -20(43%) is cheaper then a -9(43%) if u get everything exactly the same.

and yes it is fraud thanks for clarifying i was tryin 2 multi task and didnt make it clear ( and if ur agent tells u that, please switch agents, u dont know what else they could of screwed u over in)