|
Q: |
I have been involved in an
accident, what do I do? |
|
A: |
First and foremost, be careful
when exiting your vehicle. If your vehicle is
still operational and there are no injuries, pull
over to the side of the street
and exchange information with any Third Parties. If
there are injuries, contact
the police immediately, and do not move your vehicle
until directed by the
police.
As soon as possible contact Family Insurance
Solutions Inc. and report your
claim to initiate the claims process.
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| Q: |
Who/What is the Third Party? |
| A: |
Anyone else with a vested
interest in your claim – the other person/persons
involved in the accident/collision.
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| Q: |
What information do I need from
the Third Party/Parties? |
| A: |
Name
Address
Telephone Number
Driver’s License Number
Vehicle Plate Number
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| Q: |
What if Third Party refuses to
give information? |
| A: |
It is a requirement by law, to
exchange the above information in the event of a
collision. However, do not endanger your personal
safety in an attempt to obtain this information. If
possible, make a note of the plate number of the
vehicle. ::
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| Q: |
What other information do I need
to provide? |
| A: |
Time and date of accident,
names of streets/roads/highways, weather conditions,
brief description of visible physical damage to your
vehicle, police report number, if applicable.
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| Q: |
Do I need to report to ICBC as
well? |
| A: |
Yes, if there is another
vehicle involved, you must file a claim with ICBC as
well.
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| Q: |
My vehicle has been involved in
a Hit & Run, do I still need to report this to
ICBC? |
| A: |
Yes, a Hit & Run report must
be filed with ICBC within 24 hours of having
initiated your claim with Family Insurance Solutions
Inc. ::
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| Q: |
What is Liability and who determines it? |
| A: |
Liability is the state of being liable
(responsible). In a collision involving two or more
vehicles, ICBC is solely responsible for determining
liability for all vehicles insured within the
province of British Columbia.
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| Q: |
What is a Deductible? |
| A: |
All auto policies incorporate
a deductible of some description. One way of
looking at a deductible is “it’s the amount of
insurance you have agreed to
first cover your home or car for”. Any amount beyond
that agreed portion is
what Family Insurance Solutions Inc. will cover.
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| Q: |
What about my Collision
Deductible and Liability? |
| A: |
Until liability has been
resolved, you, as the Insured, are responsible for
your paying your deductible. With respect to repairs
to your vehicle, you can have repairs completed as
soon as possible and should liability not be
resolved by the time those repairs are completed;
pay your deductible and that amount will be
reimbursed to you by Family once and should
liability has been resolved in your favour. Or, wait
until liability has been resolved before completing
repairs to your vehicle.
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| Q: |
What do I do if I need a rental
vehicle? |
| A: |
If you have purchased optional
Loss of Use coverage, the policy will provide
an amount of money available towards a replacement
vehicle, regardless of
who is at fault. Your adjuster will be able to
provide full details to you on
how this process works.
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|
Q: |
What is a total loss? |
|
A: |
Family Insurance considers a vehicle a total loss
when:
• Damage to the vehicle is so severe that it cannot
be repaired safely, or
• Repairing the vehicle is not economically
practical (cost to repair exceeds its market value),
or
• Provincial regulations require us to do so based
on the amount of damage the vehicle sustained in the
accident.::
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| Q: |
What happens if my vehicle is a
total loss? |
| A: |
When a vehicle is considered a total loss, Family
Insurance will:
• Pay the actual cash value of the vehicle(plus
applicable taxes) less any deductible (see below on
how we pay and how we determine the value)
• Take ownership of the vehicle. We transfer the
title into our name, then sell the vehicle to a
salvage buyer. The salvage is then applied to the
claims file to reduce the exposure on the claim.
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| Q: |
How does Family Insurance
determine the value of my vehicle? |
| A: |
Using an independent electronic database developed
by experts in market valuation, Family Insurance
reviews sales prices of similar vehicles in your
local area. We also consider the pre-accident
condition of your vehicle, including mileage,
options and any damage not caused by the accident.
The result of this process is the actual cash value
of the vehicle. We work diligently to insure the
value we determine is accurate and fair.
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| Q: |
What if I want to keep my total
loss vehicle? |
| A: |
In some cases, you may be able to keep your total
loss vehicle instead of turning it over to Family
Insurance. In this situation, we pay the actual cash
value of the vehicle less your deductible and less a
fair salvage amount. (We get bids from salvage
buyers to determine the fair salvage amount) Some
Provinces have different rules about customers
keeping total loss vehicles, so this option is not
available to everyone. Some Provinces also have
rules concerning the language that a title must
contain after a car has been declared a total loss
(called “title branding”). Ask your claims adjuster
for more information on regulations in your province
if you are interested in keeping our total loss
vehicle. ::
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|
Q: |
Who does Family Insurance pay
when my vehicle is a total loss? |
|
A: |
• If you own the vehicle, we will pay you directly.
• If the vehicle is leased, we will pay you and the
leasing company directly.
• If the vehicle is financed we are obligated to pay
the finance company and yourself.
• If the settlement amount is not enough to pay off
your loan (actual cash value) you will still be
responsible for the unpaid loan balance. NOTE: Some
finance companies offer a product called “gap”
insurance. Other companies offer “Replacement Cost
Insurance” (depending on age of vehicle). See your
broker to see if you qualify.
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| Q: |
Do I get a replacement vehicle
when my vehicle is a total loss? |
| A: |
If your vehicle is a total loss and you have Loss of
Use Coverage, your coverage will pay for your “Like
Kind & Quality” rental vehicle (subject to your
policy limits). Your claims adjuster will tell you
when to return the rental when notifying you of your
vehicle’s value. The amount of authorized rental
time at this point will be limited, so you should
begin shopping for a replacement car as soon as you
learn your vehicle is a total loss.
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| Q: |
What do I need to do when my
vehicle is a total loss? |
| A: |
If your vehicle is a total loss and you have Loss of
Use Coverage, your coverage will pay for your “Like
Kind & Quality” rental vehicle (subject to your
policy limits). Your claims adjuster will tell you
when to return the rental when notifying you of your
vehicle’s value. The amount of authorized rental
time at this point will be limited, so you should
begin shopping for a replacement car as soon as you
learn your vehicle is a total loss.
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| Q: |
When can I remove my total loss
vehicle from my insurance policy? |
| A: |
You should not remove a total loss vehicle from your
insurance policy until you are no longer using a
rental vehicle and your damaged vehicle is no longer
registered in your name. In many provinces, Family
Insurance can remove the vehicle from your policy
retroactive to the accident date.
Total Loss Checklist
• Remove your personal items from the vehicle. Don’t
forget your sunglasses and garage door opener.
• Promptly complete any forms requested by your
adjuster. This will help us handle your claims as
quickly as possible.
• If your vehicle is at a tow yard, authorize the
tow yard to release the vehicle to Family Insurance.
• Gather your ownership documents (your adjuster
will need them)
• Gather receipts for any out-of-pocket claim
expenses (like tow bills) or recent improvements to
the vehicle (like new tires or engine work).
• Gather up all keys for the car.
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