Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n | ![Reply](https://www.revscene.net/styles/darklight/images/buttons/reply.gif) | |
07-15-2010, 08:43 AM
|
#1 | Banned (ABWS)
Join Date: Sep 2009 Location: Burnaby
Posts: 283
Thanked 13 Times in 9 Posts
Failed 3 Times in 3 Posts
| What happens now? ICBC
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 |
| |
07-15-2010, 08:46 AM
|
#2 | RS.net, helping ugly ppl have sex since 2001
Join Date: Mar 2004 Location: Richmond
Posts: 8,645
Thanked 1,357 Times in 508 Posts
Failed 229 Times in 105 Posts
|
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.
__________________ ⇐ If I bothered replying, that's the face I made while I typed. - 2017 Alfa Romeo Giula Q4
- 1999 Nissan Stagea 260RS 1 of 748
- 1998 Nissan Laurel Medallion Club S drift boi
- 1991 Lexus LS400 mint boi
- 1989 Nissan S-Cargo cute boi
Last edited by hk20000; 07-15-2010 at 08:53 AM.
|
| |
07-15-2010, 08:49 AM
|
#3 | Rider
Join Date: Apr 2010 Location: Surrey
Posts: 3,270
Thanked 2,081 Times in 532 Posts
Failed 439 Times in 100 Posts
|
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??
|
| |
07-15-2010, 08:57 AM
|
#4 | Banned (ABWS)
Join Date: Sep 2009 Location: Burnaby
Posts: 283
Thanked 13 Times in 9 Posts
Failed 3 Times in 3 Posts
|
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 |
| |
07-15-2010, 09:05 AM
|
#5 | Willing to sell body for a few minutes on RS
Join Date: Mar 2002 Location: Victoria
Posts: 10,518
Thanked 4,945 Times in 1,818 Posts
Failed 184 Times in 99 Posts
| Quote:
Originally Posted by 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
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.
__________________
1968 Mustang Coupe
2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4
A vehicle for all occasions
|
| |
07-15-2010, 03:55 PM
|
#6 | I *Fwap* *Fwap* *Fwap* to RS
Join Date: Jun 2001 Location: Burnaby
Posts: 1,575
Thanked 13 Times in 13 Posts
Failed 0 Times in 0 Posts
|
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
|
| |
07-15-2010, 09:17 PM
|
#7 | I subscribe to the Fight Club ONLY
Join Date: Feb 2002 Location: Coquitlam
Posts: 7,091
Thanked 2,112 Times in 264 Posts
Failed 61 Times in 29 Posts
| Quote:
Originally Posted by 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 | I hope he is listed as the primary driver.
If not, and ICBC investigates , he is going to be dry raped anally
|
| |
07-15-2010, 10:16 PM
|
#8 | Proud to be called a RS Regular!
Join Date: Apr 2009 Location: vancouver
Posts: 100
Thanked 1 Time in 1 Post
Failed 12 Times in 5 Posts
|
^werd
i'm going to say ass raped as well
|
| |
07-15-2010, 11:01 PM
|
#9 | The "You'd Know" Moderator
Join Date: Apr 2001 Location: Home
Posts: 20,931
Thanked 276 Times in 140 Posts
Failed 11 Times in 9 Posts
|
Worst case scenario on top of the monetary loss? Getting charged with insurance fraud.
__________________ 08 CBR600RR 03 IS300 Ezekiel 25:17. The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he who, in the name of charity and good will, shepherds the weak through the valley of the darkness. For he is truly his brother's keeper and the finder of lost children. And I will strike down upon thee with great vengeance and furious anger those who attempt to poison and destroy my brothers. And you will know I am the Lord when I lay my vengeance upon you. |
| |
07-15-2010, 11:27 PM
|
#10 | Even when im right, revscene.net is still right!
Join Date: Nov 2006 Location: Vancouver
Posts: 1,363
Thanked 81 Times in 41 Posts
Failed 100 Times in 15 Posts
|
^ 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...
__________________
-94 Civic hatch
-01 Civic coupe si (Sold)
-13 Frs (Sold)
-10 Fit
|
| |
07-15-2010, 11:38 PM
|
#11 | No Duplicate Accounts Allowed
Join Date: Jun 2010 Location: Hong Kong
Posts: 78
Thanked 13 Times in 8 Posts
Failed 137 Times in 25 Posts
| Quote:
Originally Posted by 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. |
total 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-insuran...-costs/crs.pdf |
| |
07-16-2010, 12:03 AM
|
#12 | SardaukarMod
Join Date: Dec 2001 Location: Salusa Secundus
Posts: 11,306
Thanked 485 Times in 198 Posts
Failed 15 Times in 13 Posts
|
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...
|
| |
07-16-2010, 09:20 AM
|
#13 | Even when im right, revscene.net is still right!
Join Date: Nov 2006 Location: Vancouver
Posts: 1,363
Thanked 81 Times in 41 Posts
Failed 100 Times in 15 Posts
| Quote:
Originally Posted by seakrait 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
__________________
-94 Civic hatch
-01 Civic coupe si (Sold)
-13 Frs (Sold)
-10 Fit
|
| |
07-16-2010, 11:04 AM
|
#14 | I subscribe to the Fight Club ONLY
Join Date: Feb 2002 Location: Coquitlam
Posts: 7,091
Thanked 2,112 Times in 264 Posts
Failed 61 Times in 29 Posts
| Quote:
Originally Posted by seakrait 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.
|
| |
07-16-2010, 12:12 PM
|
#15 | I *heart* Revscene.net very Muchie
Join Date: Sep 2007 Location: Vancouver
Posts: 3,918
Thanked 1,825 Times in 523 Posts
Failed 276 Times in 88 Posts
|
his insurance price is gonna get fucked
|
| |
07-16-2010, 04:29 PM
|
#16 | Banned (ABWS)
Join Date: Oct 2006 Location: MacLeod
Posts: 7,298
Thanked 542 Times in 289 Posts
Failed 1,639 Times in 418 Posts
| Quote:
Originally Posted by hotong his mom's insurance price is gonna get fucked | fix'd
|
| |
07-16-2010, 06:26 PM
|
#17 | SardaukarMod
Join Date: Dec 2001 Location: Salusa Secundus
Posts: 11,306
Thanked 485 Times in 198 Posts
Failed 15 Times in 13 Posts
| Quote:
Originally Posted by umpadupa sry but thats only for a company vehicle | the icbc adjuster who told me that seemed to think that it was possible.
|
| |
07-16-2010, 06:29 PM
|
#18 | SardaukarMod
Join Date: Dec 2001 Location: Salusa Secundus
Posts: 11,306
Thanked 485 Times in 198 Posts
Failed 15 Times in 13 Posts
| Quote:
Originally Posted by Volvo-brickster 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.
Last edited by seakrait; 07-17-2010 at 01:01 PM.
|
| |
07-17-2010, 11:45 AM
|
#19 | I *heart* Revscene.net very Muchie
Join Date: Jun 2002 Location: Vancouver
Posts: 3,677
Thanked 623 Times in 355 Posts
Failed 20 Times in 17 Posts
| Quote:
Originally Posted by dai3yuen
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
|
| |
07-17-2010, 01:32 PM
|
#20 | SardaukarMod
Join Date: Dec 2001 Location: Salusa Secundus
Posts: 11,306
Thanked 485 Times in 198 Posts
Failed 15 Times in 13 Posts
|
here's a good thread about ICBC insurance and the issue of who the principal driver is. http://forums.castanet.net/viewtopic...t&sd=a&start=0 |
| |
07-17-2010, 03:38 PM
|
#21 | & Associates Inc.
Join Date: Jan 2010 Location: Canada Eh
Posts: 1,631
Thanked 1,215 Times in 409 Posts
Failed 124 Times in 36 Posts
|
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
|
| |
07-17-2010, 08:32 PM
|
#22 | HELP ME PLS!!!
Join Date: Nov 2003 Location: Vancouver
Posts: 5,540
Thanked 980 Times in 166 Posts
Failed 399 Times in 67 Posts
|
^ ouch
pretty much op is going this route
|
| |
07-17-2010, 08:40 PM
|
#23 | Willing to sell body for a few minutes on RS
Join Date: Jul 2001 Location: Cloverdale
Posts: 11,562
Thanked 3,768 Times in 1,339 Posts
Failed 82 Times in 41 Posts
| Quote:
Originally Posted by 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 | 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.
__________________
The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa |
| |
07-18-2010, 03:50 PM
|
#24 | Rs has made me the man i am today!
Join Date: Feb 2002 Location: Burnaby
Posts: 3,191
Thanked 274 Times in 135 Posts
Failed 110 Times in 43 Posts
|
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.
|
| |
07-18-2010, 04:28 PM
|
#25 | I answer every Emotion with an emoticon
Join Date: Feb 2005 Location: somewhere
Posts: 7,906
Thanked 2,485 Times in 1,007 Posts
Failed 1,234 Times in 307 Posts
|
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..
|
| | ![Reply](https://www.revscene.net/styles/darklight/images/buttons/reply.gif) | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts HTML code is Off | | | All times are GMT -8. The time now is 08:39 PM. |