Unable to change insurance companies if you have an open not at fault claim? | GTAMotorcycle.com

Unable to change insurance companies if you have an open not at fault claim?

CruisnGrrl

CruisnGrrl

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Shopping around for insurance I mention that I had a not at fault claim last year, the question was asked if the claim was still open, it still is as the damage done was severe and I'm still receiving professional medical treatment. I was then informed that I wouldn't be able to change insurance companies. How's this work? you pay for insurance for a year, it's a year contract. any treatment whether at fault or not shouldn't lock you in to one company.
 
What company? I am with TD stand alone for the bike car with Desjardins. I have a not at fault, (we are currently suing other rider as well as TD insurance for proper med treatment). When I was up for renewal I called a couple of companies none of them mentioned an issue with the claim still being active, (maybe it is because of the ongoing treatment). My treatment was ended by TD, (hence the lawsuit)..lol

CruisnGrrl said:
Shopping around for insurance I mention that I had a not at fault claim last year, the question was asked if the claim was still open, it still is as the damage done was severe and I'm still receiving professional medical treatment. I was then informed that I wouldn't be able to change insurance companies. How's this work? you pay for insurance for a year, it's a year contract. any treatment whether at fault or not shouldn't lock you in to one company.
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I'm guessing there's two parts to this.

1) Does cancelling at the present company affect payments for treatment? That wouldn't make sense.

2) Does a new company see you as an undesirable risk? Maybe they might think you are weaker now and could be a costlier patient in a future event.
 
CruisnGrrl said:
Shopping around for insurance I mention that I had a not at fault claim last year, the question was asked if the claim was still open, it still is as the damage done was severe and I'm still receiving professional medical treatment. I was then informed that I wouldn't be able to change insurance companies. How's this work? you pay for insurance for a year, it's a year contract. any treatment whether at fault or not shouldn't lock you in to one company.
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That (yours) insurance company has service contracts with medical professionals resulting from assessments post injury which I believe must be completed. Unless you are willing to close the file (settle with them). The issue is if you were to move to another company you would have to have a re-assessment and new benefits would have to be claimed for which the cost would have to be absorbed by the insurance company (thousands of dollars). New insurance companies wouldn't know what your treatments are going to cost going forward therefore the result is for simplicity the claim is to be completed with current company (pay out or completion of treatment plan).
 
trebororr said:
That (yours) insurance company has service contracts with medical professionals resulting from assessments post injury which I believe must be completed. Unless you are willing to close the file (settle with them). The issue is if you were to move to another company you would have to have a re-assessment and new benefits would have to be claimed for which the cost would have to be absorbed by the insurance company (thousands of dollars). New insurance companies wouldn't know what your treatments are going to cost going forward therefore the result is for simplicity the claim is to be completed with current company (pay out or completion of treatment plan).
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why would any other company have to assume the claim if i change companies? the incident happened while under contract for the period of a year with one company, what if i didn't bother getting another bike, the first company would still be on the hook for services offered from that contract. Or what if i had decided to replace the bike with a car or other type of vehicle... it's a not at fault claim, it shouldn't affect my profile at all.
 
CruisnGrrl said:
why would any other company have to assume the claim if i change companies? the incident happened while under contract for the period of a year with one company, what if i didn't bother getting another bike, the first company would still be on the hook for services offered from that contract. Or what if i had decided to replace the bike with a car or other type of vehicle... it's a not at fault claim, it shouldn't affect my profile at all.
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If you injured someone else your insurer might have to pay the claims for years regardless of whether you continued the coverage. Why would they treat you differently?
 
nobbie48 said:
If you injured someone else your insurer might have to pay the claims for years regardless of whether you continued the coverage. Why would they treat you differently?
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That's my question, why would any other company care other than the required risk rule, at fault I'm considered a greater risk, not at fault, it's a risk they can't factor in.
 
CruisnGrrl said:
Shopping around for insurance I mention that I had a not at fault claim last year, the question was asked if the claim was still open, it still is as the damage done was severe and I'm still receiving professional medical treatment. I was then informed that I wouldn't be able to change insurance companies. How's this work? you pay for insurance for a year, it's a year contract. any treatment whether at fault or not shouldn't lock you in to one company.
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The person who advised you of this is completely incorrect.
 
CruisnGrrl said:
That's my question, why would any other company care other than the required risk rule, at fault I'm considered a greater risk, not at fault, it's a risk they can't factor in.
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What I would expect:

If I had a policy that covered me from January 1, 2014 to December 31, 2014 and during that time frame I incurred an injury that needed accident benefits the accident benefits would continue until the $50,000.00 limit (Assuming minimum coverage) was exhausted, not until December 31, 2014

I would not expect to have to renew the policy just to keep the coverage.

Insurance gurus correct me if I'm wrong.

Not sure if this is pertinent but I was told one only has one year to sue an insurance company should it come to that.
 
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It seems to me that your AB claim is probably greater than what the insurance company underwriting guideline is, so they are probably hesitant to take your business as they will not want to be liable for your past claim history
 
You are free to seek a new insurer at renewal.

They may discourage it but is can be done.

It's not ideal to either the previous company or the new company because it can get ugly in the event of a future AB claim.

Did the new incident aggravate the previous injury? If so, by how much? Prove it. Set a reserve for the new claim. Adjust the previous reserve etc.

So it's preferred to keep the claimant insured with the same company until the file is closed.

There is no regulation that I'm aware of that prevents you from seeking coverage elsewhere.
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