Curious question for you insurance adjusters

[benz_890]

When someone is involved in an accident or gets hail damage on there car and opt for the money rather then get the car fixed, they have to sign a form waiving the insurance company from further damage to that vehicle.

Is that just on the section of the car that was damaged previously? Say someone takes the payout for hail damage and their car gets vandalized down the road by an angry ex-gf or gets stolen. Do they cover this or do they tell you to take a hike?

[Rusted Bumper]

It is only referring to the loss mentioned in the form.

Whether you still have collision and/or comprehensive is something you need to confirm with your insurance. If they are not changing your coverage, expect two things.

1 - Your car is worth less than before. Closer to being a write off, etc.

2 - Your insurance (and other insurance companies) will always charge betterment if you have prior damage. If your hood is swiss cheese from hail, and then it is crumpled, you would be paying to help get a new hood. No insurance company will give you a hood better than the one you had right before the accident. They will only pay a percentage.

[CUG]

Originally posted by benz_890
When someone is involved in an accident or gets hail damage on there car and opt for the money rather then get the car fixed, they have to sign a form waiving the insurance company from further damage to that vehicle.

Is that just on the section of the car that was damaged previously? Say someone takes the payout for hail damage and their car gets vandalized down the road by an angry ex-gf or gets stolen. Do they cover this or do they tell you to take a hike?

Those are two separate claims and you will take the deductible hit twice. Buddy, we're in Canada, you only get a year or two for murder here.. Just a thought.

[benz_890]

TD will not cover any further damage to the vehicle, they told me it's pointless to keep comprehensive on the car as they will not cover anything.

[95teetee]

So they're basically telling you that you're paying to not have coverage on your car anymore?

Get new insurance

[canadian_hustla]

Originally posted by benz_890
TD will not cover any further damage to the vehicle, they told me it's pointless to keep comprehensive on the car as they will not cover anything.

this person speaks truth. I talked with TDCT and they told me that assuming i took the cash payout for $3000, if in the future i had an accident for $5000 in damages they would subtract the $3000 cash payout and only pay for $2000 of the accident