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View Full Version : does insurance co. compensate on the de-value of my car due to car accident



happy hopping
06-24-2019, 11:39 PM
so my car was stationary while a 15 yr. old punk go reverse and damage the front of the car. Currently, I have 2 issues:

1) after the repair, there is a record that locks the history of my car. And when I try to sell it in the future, there is a record showing this accident. As such, that de-value the selling price of my car. Since the other side is 100% at fault, does the other insurance co. automatically write me a cheque on that de-value cost of this car accident? or do I have to sue to get it?

2) the accident happened 2 months ago. There is still no repair done. Because that teenager has been avoided phone calls from HIS own adjuster of HIS OWN insurance co. So they can't assign fault until he contacts. Now is the system builds so poorly? what if he never call? My adjuster said there is a "No contact" letter that can be send by the other adjuster and have the other side at fault due to lack of communication.

But how long does this take? I ask my own adjuster and she won't reply.

Masked Bandit
06-25-2019, 04:11 AM
1) For all intents & purposes, no. Accelerated depreciation, diminished value or whatever you want to call it isn't generally a thing in Alberta.

2) Eventually the other side will have to give up and just accept liability but I've seen this take up to six months. Is it shitty? Yep. Is there anything you can really do about it? Nope.

Zhariak
06-25-2019, 06:19 AM
so my car was stationary while a 15 yr. old punk go reverse and damage the front of the car. Currently, I have 2 issues:

1) after the repair, there is a record that locks the history of my car. And when I try to sell it in the future, there is a record showing this accident. As such, that de-value the selling price of my car. Since the other side is 100% at fault, does the other insurance co. automatically write me a cheque on that de-value cost of this car accident? or do I have to sue to get it?

2) the accident happened 2 months ago. There is still no repair done. Because that teenager has been avoided phone calls from HIS own adjuster of HIS OWN insurance co. So they can't assign fault until he contacts. Now is the system builds so poorly? what if he never call? My adjuster said there is a "No contact" letter that can be send by the other adjuster and have the other side at fault due to lack of communication.

But how long does this take? I ask my own adjuster and she won't reply.

Not sure about numero 1, but as for 2, what type of insurance do you have? If you have full coverage, contact your provider, explain what happened. Someone correct me if I'm wrong, but they should fix your stuff, and then go after the kids insurance company for you.

dirtsniffer
06-25-2019, 08:03 AM
You'll need to prove the value was deminished and you'll likely need to realize the loss. And you'll need to sue. And it's still no slam dunk
They are considered special damages and can be awarded, but the burden of proof is high, and the requirements are not established.
https://www.canadianunderwriter.ca/features/cc-diminished-value/

You're much better off with suing due to your 'TMJ'

gwill
06-25-2019, 09:49 AM
1) For all intents & purposes, no. Accelerated depreciation, diminished value or whatever you want to call it isn't generally a thing in Alberta.

2) Eventually the other side will have to give up and just accept liability but I've seen this take up to six months. Is it shitty? Yep. Is there anything you can really do about it? Nope.

What happens if you sell your vehicle for less after an accident? Is that not a loss that can be recouped?

revelations
06-25-2019, 10:20 AM
You can buy special add on for insurance that covers loss of value due to (not at fault?) collision. Too late for you unfortunately.

dirtsniffer
06-25-2019, 10:26 AM
What happens if you sell your vehicle for less after an accident? Is that not a loss that can be recouped?

prove less and you have case

Masked Bandit
06-25-2019, 01:47 PM
What happens if you sell your vehicle for less after an accident? Is that not a loss that can be recouped?

Prove exactly how much more you would have got without the accident and you have the beginning of a case, not the finish line by any means. There will always be rare exceptions but for the most part it's a waste of time & effort.

- - - Updated - - -


You can buy special add on for insurance that covers loss of value due to (not at fault?) collision. Too late for you unfortunately.

Moreso in the US, I haven't come across it yet in Canada. At some point maybe but it's not mainstream if available at all here.

94boosted
06-25-2019, 02:10 PM
Not sure about numero 1, but as for 2, what type of insurance do you have? If you have full coverage, contact your provider, explain what happened. Someone correct me if I'm wrong, but they should fix your stuff, and then go after the kids insurance company for you.

That's what I thought too. :confused: Your insurance covers the cost of repairs, rental car etc. and then they go after the at-fault parties insurance company for reimbursement.

revelations
06-25-2019, 03:53 PM
Moreso in the US, I haven't come across it yet in Canada. At some point maybe but it's not mainstream if available at all here.

Its apparently known as GAP INSURANCE (I was getting it mixed up with depreciation insurance) .... and done at the time of purchase : "Gap insurance is only available from car dealerships or financing companies - not insurance companies."


https://www.thinkinsure.ca/insurance-help-centre/gap-insurance.html


Nothing worse than buying a vehicle for 60k, writing it off in a year - owing 55k and getting a cheque for 40k.

__________________________________________________________________________________________________

A decent article covering dimished vehicle value after collision. Apparently : "successful cases typically involve newer or higher end vehicles, where the vehicle owner is "100 per cent blameless" for the accident."

https://www.cbc.ca/news/business/vehicles-insurance-accidents-diminished-value-1.4675414

killramos
06-25-2019, 04:02 PM
I have gap insurance on 2 of my cars?

It’s not that uncommon, just really expensive. My understanding is it’s only available for 5 years after purchase, keeps going up in price over time, and once you cancel it you can’t ever get it again.

Ie, my C63 disappears tomorrow. I get a new C63 (technically the lower of what I paid for my C63 or MSRP of a new C63) not some lowball cheque.

Called SEF43 or something or other.

you&me
06-25-2019, 04:09 PM
Its apparently known as GAP INSURANCE (I was getting it mixed up with depreciation insurance) .... and done at the time of purchase : "Gap insurance is only available from car dealerships or financing companies - not insurance companies."


https://www.thinkinsure.ca/insurance-help-centre/gap-insurance.html


Nothing worse than buying a vehicle for 60k, writing it off in a year - owing 55k and getting a cheque for 40k.

__________________________________________________________________________________________________

A decent article covering dimished vehicle value after collision. Apparently : "successful cases typically involve newer or higher end vehicles, where the vehicle owner is "100 per cent blameless" for the accident."

https://www.cbc.ca/news/business/vehicles-insurance-accidents-diminished-value-1.4675414

Gap insurance is typically built in to a lot of lease and finance programs offered by manufacturers.

The reason it works in these cases is because the loss can be quantified as the difference between the buyout or balloon payment (a firm figure) and the adjusted, depreciated (i.e. disposal) value after an accident.

ExtraSlow
06-25-2019, 04:41 PM
Gap insurance isn't what the OP was talking about because the car wasn't written off. In fact he wants to keep it.

Masked Bandit
06-25-2019, 04:42 PM
Its apparently known as GAP INSURANCE (I was getting it mixed up with depreciation insurance) .... and done at the time of purchase : "Gap insurance is only available from car dealerships or financing companies - not insurance companies."


https://www.thinkinsure.ca/insurance-help-centre/gap-insurance.html


Nothing worse than buying a vehicle for 60k, writing it off in a year - owing 55k and getting a cheque for 40k.

__________________________________________________________________________________________________

A decent article covering dimished vehicle value after collision. Apparently : "successful cases typically involve newer or higher end vehicles, where the vehicle owner is "100 per cent blameless" for the accident."

https://www.cbc.ca/news/business/vehicles-insurance-accidents-diminished-value-1.4675414

GAP insurance is different, it's more of a bastardized SEF 43r Waiver of Depreciation. It would have value after the first 30 months but up until that point it's a waste of money...and doesn't deal with diminished value.

rx7boi
06-25-2019, 04:55 PM
Gap insurance isn't what the OP was talking about because the car wasn't written off. In fact he wants to keep it.

He doesn't have a choice. It wasn't written off so yes, he's stuck with a vehicle that's theoretically worth less on the market. That said, if he was stationary and someone backed into him, I can't imagine the damage (price is a whole other matter depending on vehicle) is too bad.

Might run into some issues where buyers only want accident-free vehicles but keeping good records should alleviate those concerns to some degree.

Like Bill says, it's an uphill battle. There's no proving that you'll have to sell the car for X dollars less because of this accident.

SportEL
06-25-2019, 07:47 PM
so my car was stationary while a 15 yr. old punk go reverse and damage the front of the car. Currently, I have 2 issues:


2) the accident happened 2 months ago. There is still no repair done. Because that teenager has been avoided phone calls from HIS own adjuster of HIS OWN insurance co. So they can't assign fault until he contacts. Now is the system builds so poorly? what if he never call? My adjuster said there is a "No contact" letter that can be send by the other adjuster and have the other side at fault due to lack of communication.

But how long does this take? I ask my own adjuster and she won't reply.

Do you not have Collision coverage? Pay the deductible, get the repairs done, and then your insurer can possibly reimburse you for it afterwards. Have you gotten an estimate yet? At least your insurer can approve for repairs, and then once liability is settled, you can book in right away. Insurers usually attempt to contact multiple times by phone and email, send out letters and registered letters, and then eventually hold their insured at fault for not contacting back.

triplep
06-26-2019, 07:19 AM
Looks like you can get it, but it seems that it is very rare indeed and you would need to sue. Couple articles out of BC for the same thing:

https://bc-injury-law.com/20700-accelerated-depreciation-claim-succeeds-vehicle-damage-crash/ funny how a $80k Benz is considered low to mid level luxury....

https://www.cbc.ca/news/business/vehicles-insurance-accidents-diminished-value-1.4675414

Tik-Tok
06-26-2019, 07:35 AM
https://bc-injury-law.com/20700-accelerated-depreciation-claim-succeeds-vehicle-damage-crash/ funny how a $80k Benz is considered low to mid level luxury....



Well, a BMW 3 series in Vancouver is the equivelant of a Civic anywhere else.

4WARNED
06-26-2019, 08:51 AM
In response to item #2 from the OP, i went through the exact same thing with our Jeep Wrangler. kid down the street drifting his civic in the winter came around the corner and promptly met the big steel aftermarket bumper on our Wrangler. I took lots of pics, all sorts of proof he was there, accident report/sticker from the cops. He started out saying he'd pay out of pocket, then took 6 weeks to finally admit we need to go thru insurance.
I get estimates, book it in, and MY insurance company says the other insurance company can't get ahold of the kid (exactly like your situation). I sent the pics to my adjuster and the other insurance company told us to proceed with claim at their expense. Seemed like a lame step but it all got sorted out as per the system and it was obvious the kid (new driver) was trying to avoid having his insurance rates hiked. drive like an ass, pay up....

Edit - did i read that correctly? a 15 year old driver? who else was in the car as the responsible license holder because that driver is on a learner's permit.

rx7boi
06-26-2019, 08:53 AM
So how bad is the damage and what kind of car is it?

happy hopping
06-27-2019, 01:39 AM
Do you not have Collision coverage? Pay the deductible, get the repairs done, and then your insurer can possibly reimburse you for it afterwards. Have you gotten an estimate yet? At least your insurer can approve for repairs, and then once liability is settled, you can book in right away. Insurers usually attempt to contact multiple times by phone and email, send out letters and registered letters, and then eventually hold their insured at fault for not contacting back.

I never pay for collision. As I never ends up in at fault accident in the past 20+ yr.

but does the above process, really take 6 mth. I can send a statement of claim and they have to respond in 20 days.

Also, how can the Alberta system be so poorly structure? So if some punk hit your car twice in 5 years, you can de-value, you have to eat it? that can't be fair. I'm hoping for a table to look up and calculate the depreciation value from a single car accident

happy hopping
06-27-2019, 03:20 AM
In response to item #2 from the OP, i went through the exact same thing with our Jeep Wrangler. kid down the street drifting his civic in the winter came around the corner and promptly met the big steel aftermarket bumper on our Wrangler. I took lots of pics, all sorts of proof he was there, accident report/sticker from the cops. He started out saying he'd pay out of pocket, then took 6 weeks to finally admit we need to go thru insurance.
I get estimates, book it in, and MY insurance company says the other insurance company can't get ahold of the kid (exactly like your situation). I sent the pics to my adjuster and the other insurance company told us to proceed with claim at their expense. Seemed like a lame step but it all got sorted out as per the system and it was obvious the kid (new driver) was trying to avoid having his insurance rates hiked. drive like an ass, pay up....

Edit - did i read that correctly? a 15 year old driver? who else was in the car as the responsible license holder because that driver is on a learner's permit.

he has no permit. When I ask him, he said he doesn't have a licence. About 1 min. later, he said me why I need his lic., I said you crash my car. He pointed to his girlfriend and said "I'm not the driver, she is"

- - - Updated - - -


So how bad is the damage and what kind of car is it?

Civic SI, the front is damaged, don't know how much though

happy hopping
06-27-2019, 04:01 AM
Looks like you can get it, but it seems that it is very rare indeed and you would need to sue. Couple articles out of BC for the same thing:

https://bc-injury-law.com/20700-accelerated-depreciation-claim-succeeds-vehicle-damage-crash/ funny how a $80k Benz is considered low to mid level luxury....

https://www.cbc.ca/news/business/vehicles-insurance-accidents-diminished-value-1.4675414

so, it's very good to have a case law to go with. But say the repair is $2K to $3K. And my car, before I bought it, the previous car owner has 1 accident (also at the front). so now w/ this $2K to $3K repair also at the front, how to gauge the accelerated depreciation?

colinxx235
06-27-2019, 06:15 AM
lol if you car already had an accident in the same spot the second one isn't going to just the depreciation that much more than it already had. Given you have what I'm assuming is a much older Civic Si also (no collision), you won't be getting a single extra cent

speedog
06-27-2019, 07:04 AM
How badly was your car wrap damaged? Make sure that is covered in your claim as well.

Tik-Tok
06-27-2019, 07:31 AM
I never pay for collision. As I never ends up in at fault accident in the past 20+ yr.



Collision isn't for when you are at fault, it's for when someome else hits you. Your insurance would fix your car, and then go after his insurance company for the money. If you had it, your car would be fixed by now.

Also, a used Civic Si that was already in an accident? You are getting exactly zero dollars for depreciation, as there is none.

killramos
06-27-2019, 07:34 AM
Sounds to me like sueing will cost more than the car is worth, let alone the “depreciation”.

Be happy it will eventually be fixed and if timing is an issue spring for collision.

ExtraSlow
06-27-2019, 08:08 AM
Holy shit he's denying being the driver? What does the police report say? That's some sketchy shit.

rx7boi
06-27-2019, 08:39 AM
TL;DR:

- OP gets hit by 15 year old with seemingly no license, doesn't call LEO on the spot when he denies and says GF (also 15 years old or what?) was driving.
- OP sounds like he has no comprehensive collision coverage
- OP bought his car with 1 existing front-end claim, wants money because a 2nd front-end claim will further depreciate his car.

Sounds like it was handled poorly. Assuming that you didn't want to spend money on comprehensive, I doubt you would have a dashcam either although the two aren't necessarily correlated.

Those kids ran circles around you. You didn't get any other contact info? Addresses? What the fuck?

Stuart
06-27-2019, 08:43 AM
I want to know who it lists as the other driver on the police report, that OP would have signed :dunno:

ExtraSlow
06-27-2019, 08:58 AM
Those kids ran circles around you. You didn't get any other contact info? Addresses? What the fuck?
I want to know who it lists as the other driver on the police report, that OP would have signed :dunno:
This is a shitshow. Next he's going to tell us there isn't a police report or something.

rx7boi
06-27-2019, 09:01 AM
I don't think there is either. It doesn't sound like he called the cops after otherwise there would be a police statement, either because he thought the damage wasn't over $2000 or was simply unaware of that fact.

Regardless, if the other driver started lying on the spot or being evasive with providing info, LEO is best next move.

happy hopping
06-29-2019, 06:38 AM
I was too badly hurt that I can't even call my own insurance agent until 1 week later.

over 1 mth. after, I did call the police and go to the police station. They said they don't access who's at fault in any car accident. They said they leave it to the insurance co

what is LEO

speedog
06-29-2019, 08:38 AM
I was too badly hurt that I can't even call my own insurance agent until 1 week later.

over 1 mth. after, I did call the police and go to the police station. They said they don't access who's at fault in any car accident. They said they leave it to the insurance co

what is LEO

How fast was that 15 year old punk going in reverse to injure you so badly in that accident? And how did you become so badly hurt that you couldn't call you own insurance agent for a week or a month later for the police when right after the accident you were able to speak to the punk? Something is not adding up here.

Btw, LEO equates to Limited Entry Orifice.

dirtsniffer
07-01-2019, 03:26 PM
OP is just taking my advice

happy hopping
07-03-2019, 03:16 AM
How fast was that 15 year old punk going in reverse to injure you so badly in that accident? And how did you become so badly hurt that you couldn't call you own insurance agent for a week or a month later for the police when right after the accident you were able to speak to the punk? Something is not adding up here.

Btw, LEO equates to Limited Entry Orifice.

he goes in reverse fast, about 50 km /hr. or so. The impact is serious enough that my front bumper was punctured thru by his ?? at the rear of his truck. he goes in reverse from the other street (opposite street) all the way to the original position of his car on the other side of the lane. Centre st. is 2 way. The entire front bumper is coming off. There are some components that fell off at the bottom of my car.

colinxx235
07-03-2019, 06:38 AM
he goes in reverse fast, about 50 km /hr. or so. The impact is serious enough that my front bumper was punctured thru by his ?? at the rear of his truck. he goes in reverse from the other street (opposite street) all the way to the original position of his car on the other side of the lane. Centre st. is 2 way. The entire front bumper is coming off. There are some components that fell off at the bottom of my car.

LOL at 50 km/hr, what was Brian Spilner doing reverse donuts in an Eclipse into you?

Hardly takes anything to punch a hole in a bumper, if he hit you doing 50 your entire front end would be smashed and probably broken engine mounts/rad etc etc.

ExtraSlow
07-03-2019, 09:41 AM
I don't know of the OP even wants advice any more, but if you have damage that serious, you WILL need a police report before it can get fixed. Have you gotten one of those yet? You can do it yourself if the other party won't assist.

Stuart
07-03-2019, 10:13 AM
A civic hit at 50kph will be a write-off almost guaranteed so the main thrust of this thread would not matter. If this was even remotely true I would be expecting all new airbags along with any body/frame/mechanical damage.

rage2
07-03-2019, 10:24 AM
OP is making no sense. Takata airbags fucked him up good in the 50kmh collision.

happy hopping
07-13-2019, 02:44 AM
the speed is my best guess. The Civic SI is a trans?? engine, so the front of the car is much shorter

speedog
07-13-2019, 08:25 AM
the speed is my best guess. The Civic SI is a trans?? engine, so the front of the car is much shorter

Whut?

happy hopping
07-14-2019, 01:35 PM
transaxle engine. So the front of my car is only 1/2 the length as a regular sedan. I am thinking it didn't absorb the damage as a regular sedan would have. As I'm still going thru massage / chiro treatment

ShermanEF9
07-14-2019, 02:18 PM
that doesn't matter.

muse017
07-14-2019, 02:34 PM
I lol'ed. Were you in coma for a week?

rx7boi
07-14-2019, 04:03 PM
Nah, he just wants money.

MR2-3SGTE
07-14-2019, 09:43 PM
Is it just me or does it seem obvious that OP is trolling

revelations
07-15-2019, 12:14 AM
Is it just me or does it seem obvious that OP is trolling

Youd think so - but these people do exist.