Insurance Issue...

[westbeach70]

So, this morning being Sunday Dec 20th, I get told by a friend that he got into an accident..

He has told me that he has a freebe with his insurance thing that if he gets into an accident its all good, but he is unsure how it works.. Has anyone had any relations with these free insurance claims & / or whats involved or how it works?? Its so close to Christmas and all any advice I can give to cheer the dude up, would be appreciative.. Thanks....

Chris
Medicine Hat, Ab

[BlackArcher101]

Um... he calls his insurance co?

It differs from company to company, so without knowing the exact terms of his coverage, we have no way of knowing what to tell. Otherwise, treat it like a regular claim and the insurance company takes care of the rest. With my company, the "freebie" claim depends on if I'm at fault or not, and if it's a write off or not.

[FiveFreshFish]

I believe it's "accident forgiveness" where they don't up his rates after one at-fault crash. Of course the deductible is not free assuming he's at fault.

If he has any no-claims bonuses, he'll lose them. A no-claims bonus might be after x number years of driving, the insurance company drops his deductible from say $500 to $375 without changing his premium.

[friedn00dles]

if your friend has the SEF 39 "Accident Rating Waiver Endorsement" on his policy, this will protect the drivers six (6) star driving record in the event of a at fault loss.

basically a forgiveness program so on his renewal, his premiums wont shoot up aslong as he stays with that company for the next six years.

its more of a retention program for the company side than anything else.

" Stay with us and we'll forgive you for that one and only accident "


cheers

tony

[Masked Bandit]

Originally posted by westbeach70
So, this morning being Sunday Dec 20th, I get told by a friend that he got into an accident..

He has told me that he has a freebe with his insurance thing that if he gets into an accident its all good, but he is unsure how it works.. Has anyone had any relations with these free insurance claims & / or whats involved or how it works?? Its so close to Christmas and all any advice I can give to cheer the dude up, would be appreciative.. Thanks....

Chris
Medicine Hat, Ab

Most of the companies that offer the claims waiver apply it in the same fashion. They will allow one completely at-fault claim to occur without it affecting his insurance in any way. However, he his then captive to that company for the next six years. If he tries to move to any other company that accident becomes live again.