It can work that way, but only in a not-at-fault collision.
It can work that way, but only in a not-at-fault collision.
What i meant was that when your in a not-at-fault accident you do not have to pay anything because your insurance company will cover everything BUT they are going to go after the other company for the losses. So essentially the other company is paying for both parties.
Not really. In really serious crashes involving seriously-heavy long term payouts there might be efforts to recover costs behind the scenes, but not for run-of-the-mill crashes. That's why you pay for DCPD coverage as part of your mandatory coverage set.
Thanks for clearing that up, i've always thought that an insurance company will ALWAYS try to get their money back from the other party.
im not sure if you are joking or stupid
niagara_ridder
Well-known member
I am an insurance adjuster. I have done auto claims for 3+ years.
For vehicle damage you are paid by your own insurance company. There is no suing in ontario for vehicle damages.
You can recover damages for injuries once a certain threashold is met.
The idea of no fault is very mis understood. Someone is always at fault in an accident. No fault means that despite who is at fault you have access to benefits for injuries under your policy.
For vehicle damage you are paid by your own insurance company. There is no suing in ontario for vehicle damages.
You can recover damages for injuries once a certain threashold is met.
The idea of no fault is very mis understood. Someone is always at fault in an accident. No fault means that despite who is at fault you have access to benefits for injuries under your policy.
Your insurance company going after the other insurance company behind the scenes is called subrogation. That's not permitted for vehicle damage payouts arising from a not-at-fault crash and where your insurance company pays out under your DCPD coverage.
If you're not at fault in a crash, YOUR insurance company pays to repair or replace your vehicle out of your DCPD coverage. Your insurance company takes the entire hit on that and it cannot go after the insurance company of the at-fault vehicle to recover the costs of that DCPD payout.
please, PLEASE educate yourself on the process of subrogation before spewing out any more nonsense
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I'm also an adjuster and it's unreal how little people understand about their policy and about claims. I think that there should be a section in the driver training course dedicated to how insurnace works
OP - as far as the insurance related info goes, Niagra Rider and Turbo have it right. It looks like you're at fault tho so you're own your own. In addition if the other person makes a claim you will need to report it to your insurer and will be held at fault for it regardless of whether they fix your bike or not. I don't mean to be a d**k, just letting you know whats coming.
OP - as far as the insurance related info goes, Niagra Rider and Turbo have it right. It looks like you're at fault tho so you're own your own. In addition if the other person makes a claim you will need to report it to your insurer and will be held at fault for it regardless of whether they fix your bike or not. I don't mean to be a d**k, just letting you know whats coming.
toshison
Well-known member
sorry to hear about the accident. Live and learn. You probably won't fully appreciate it now because your ****** at your loss in $$ and charge but be thankful that you arent injured. It could of been much much worse.
A lot of people think they are safe and careful riders but an accident like this will make you realize that you can be even better. Thats what my accident did to me. Good luck fighting the charge.
A lot of people think they are safe and careful riders but an accident like this will make you realize that you can be even better. Thats what my accident did to me. Good luck fighting the charge.
As much as it pains me, I have to side with Turbo here. Insurance companies don't pursue run of the mill claims from each other because at the end of the year it essentially balances out and all they've managed to do is lose money paying administrators to handle the paperwork. Each company only pays for the claims of the vehicles they insure.
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Venom01
Well-known member
Sorry you had that happen to you. Fortunately above everything that happened you are OK. Your going to have to view this as an expensive lesson though. Do your best to find a witnesse as that will be the only way to have a chance to drop the charge.
Sent from my Nexus One using Tapatalk
Xhumeka
Well-known member
Hmmm, maybe that's why insurance prices are so high. If instead of "insurance" paying your own insurance company to cover 0 percent fault incidents, maybe they should force the at-fault driver's insurer to pay.
Then maybe the insurance companies would start putting more effort into charging those who frequently offend more $$$ for their policies, and charge much less to those of us with squeaky clean records...
OpenGambit
Banned
if you took the time to google this, you would realize its actually a cost saving measure.
Xhumeka
Well-known member
Just because it's cheaper for the INSURANCE companies to do it this way, does not mean it's cheaper for the policy holder (especially one with a squeaky clean record).
I could care a less if they charge a "high risk offender" $10,000 /year to offset the costs of additional paperwork involved.
I'm having a hard time understanding your point. If it's cheaper for the insurance company than that means that the loss ratio of that company is better and they can afford to lower rates. I think that you may be misunderstanding the term 'no fault'
OpenGambit
Banned
oh I see, so you think that getting rid of the DCPD agreement, raising the costs to the insurance companies, will somehow result in cheaper rates for policy holders with a clean record?
Seeing that 10 minutes ago you had no idea that DCPD saved money, I doubt you have any facts to back this one up.
Xhumeka
Well-known member
lmao, you Jun & Jul 2011 1 & 2 month trollers can look for fights somewhere else... I don't surf these forums looking for a keyboard warrior argument, I surf these forums because I'm a biker. I posted my support to the OP and raised my disgust at high insurance rates - that's all I care to comment. I'm not claiming to have ANY answers especially when it comes to insurance, I'm just another peon who's paid probably close to $30k in insurance over the years without ever having submitted a claim and like to ***** about it.
Searching your posts it's clear you like to argue; I don't, so I'm going to let you argue with someone else.
Searching your posts it's clear you like to argue; I don't, so I'm going to let you argue with someone else.
Troller? I'm just trying to give out accurate information about insurance. I don't see how my short tenure on this forum discounts that in anyway. I read so many posts that have members giving out inaccurate advice about insurance and all I was trying to do was clear it up. I wasn't starting an argument just trying to understand your post. I pay insurance too and resent how high it is but I understand where the numbers come from and why the rates keep rising and would be more than happy to explain why DCPD is not the enemy (organized fraud is) but that's getting way off topic and I've already been accued of trolling today and I don't want thread jacking next.
