| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
 | 
06-26-2019, 05:12 PM
|
#1 | | Diagonally parked in a parallel universe
Join Date: Mar 2013 Location: work
Posts: 1,451
Thanked 963 Times in 337 Posts
Failed 1,004 Times in 194 Posts
| How exactly does getting a cash settlement payment rather than fixing car damage wor
I understand you have an option if someone backs into you damages your car or whatever the case, you can either have ICBC fix it or you can except 70% cash settlement payment that is what I understand anyways. some woman dropped her motorbike on my rear bumper and nicked the corner . I would rather just have cash because you can’t really notice it anyways . What is the proper procedure in which going through with asking them to get the cash? Posting this more less cause maybe some people have gone through with this and they can share their experience . Thanks
| 
|  | |
06-26-2019, 05:54 PM
|
#2 | | NOOB, Not Quite a Regular!
Join Date: Aug 2007 Location: Surrey
Posts: 31
Thanked 34 Times in 7 Posts
Failed 0 Times in 0 Posts
|
Fairly simple. Raise the request with your Adjuster. They will review it. If approved you will get a cheque in the mail.
| |
| | |
06-27-2019, 05:36 AM
|
#3 | | I contribute to threads in the offtopic forum
Join Date: Oct 2011 Location: Richmond
Posts: 2,674
Thanked 3,841 Times in 998 Posts
Failed 370 Times in 115 Posts
|
Why not just get a few estimates and ask them for cash?
| |
| | |
06-27-2019, 10:06 AM
|
#4 | | they call me the snowman
Join Date: Apr 2001 Location: online
Posts: 19,749
Thanked 3,993 Times in 1,374 Posts
Failed 187 Times in 91 Posts
|
I went through this last year.
I was selling a vehicle with an outstanding ICBC claim for about $1200. The buyer negotiated to buy the vehicle at a discount and fix the damage himself, so I requested a cash settlement from ICBC adjuster.
I had to bring the truck to an ICBC approved body shop for them to appraise the damage. Once that was done, I had to ask the body shop to send a copy of the appraisal to my ICBC adjuster. That took a little time as the body shop now knew that I wasn't going to be a customer. But within a week they sent the pdf copy to ICBC for their review.
Fast forward another week, and a few more phone calls on my end and my adjuster finally got back to me. He offered a check for $685 to cover the damages. I made the argument that it was half of the appraisal, and that didn't include the benefits I get from being a Roadstar, such as car rental, etc. My ICBC adjuster didn't care about my math, and it was obvious that they weren't going to budge. I accepted the $685 and signed off on the claim.
All said and done, it wasn't a challenging process. There were a few calls that had to be made to push folks into working, but I got my check promptly and was able to move on.
For the record, there was no check sent in the mail. I had to go to an ICBC office and pick it up. That's where I signed off on any future claims against the settlement.
| |
| | |
07-28-2019, 05:14 AM
|
#5 | | 14 dolla balla aint got nothing on me!
Join Date: Mar 2014 Location: im over here!
Posts: 662
Thanked 365 Times in 175 Posts
Failed 87 Times in 22 Posts
|
That totally blows!
My car was part of a hit and run at a ski resort in Lake Louise. Luckily the lot staff witnessed the incident and reported the plate info to me. After I contacted the person's insurer, their US based company cut me a cheque for more than I paid for the car. I took the cash payout of what my quotes indicated (full amount in USD), bought a used tail light at the wreckers and later sold the car for the full amount I bought it for a year prior.
| |
| | |
07-28-2019, 09:13 AM
|
#6 | | Willing to sell body for a few minutes on RS
Join Date: Aug 2004 Location: Duncan, BC
Posts: 10,127
Thanked 5,568 Times in 2,107 Posts
Failed 231 Times in 90 Posts
|
@ hypa: It’s cheque in every country except the USA.
| |
| | |
07-28-2019, 07:49 PM
|
#7 | | 14 dolla balla aint got nothing on me!
Join Date: Mar 2014 Location: im over here!
Posts: 662
Thanked 365 Times in 175 Posts
Failed 87 Times in 22 Posts
|
I got a cheque from the insurance co. in the USA
| |
| | |
07-29-2019, 05:55 AM
|
#8 | | I STILL don't get it
Join Date: Jun 2015
Posts: 458
Thanked 538 Times in 161 Posts
Failed 8 Times in 7 Posts
|
I think he's saying you get a 'Check' in the US, but a 'Cheque' in Canada.
As far as I can remember in the England it's spelled "What is this, the 80's? We'll transfer you the money directly"
| |
| | |
07-29-2019, 07:18 AM
|
#9 | | Willing to sell body for a few minutes on RS
Join Date: Mar 2002 Location: Victoria
Posts: 10,552
Thanked 4,973 Times in 1,835 Posts
Failed 185 Times in 100 Posts
|
I did this when a woman drove into the door of my old beater '85 civic.
It was just a dent and a scratch, the door worked fine.
In my case the adjuster actually made the offer:
$500 and I keep the car
or
$1000 and I turn the over the car to them (write off)
It was a no brainer.
__________________
1968 Mustang Coupe
2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4
A vehicle for all occasions
| |
| | |
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 01:05 AM.
|
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
The banners on the left side and below do not show for registered users!
