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dcramer 08-01-2013 11:10 AM

Insurance settlement
So insurance has finally given me an offer.

For those who haven't figured this out. I threw a rod at mosport which resulted in hitting the wall and the car is a write off.

Now the insurance company valued the car at approx. 8000 but has decided to deduct the price of the engine from the car as "prior damage". I would argue that the engine was fully functional at the time of the loss and should be compensated for.

propr'one 08-01-2013 11:22 AM

how did you get your insurance company to cover you at the track? were you lapping or racing?

my broker tells me every time i renew that if i hit something at the track i'm not covered.

mr ilia 08-01-2013 11:23 AM

interesting, can you lowball insurance with engine value of 100.00? and keep 7900?

dcramer 08-01-2013 11:25 AM

if you are racing you are not covered. Driver education is covered.

dcramer 08-01-2013 11:26 AM


Originally Posted by mr ilia (Post 1619478)
interesting, can you lowball insurance with engine value of 100.00? and keep 7900?

Well I am going to argue there was no prior damage to the engine

davericher20 08-01-2013 11:27 AM

Wow, you either got some serious balls to file a claim while at the track, or you're not all there....jk.
You aren't worried about your premiums after this claim? Very curious to see how this plays out, i was always under the impression that while at a school, you have coverage, (and they rape you after) at a lapping day, you do not have coverage

dcramer 08-01-2013 11:28 AM

Well considering I have it on file that they were OK with me going to D/E events I fail to see how they can charge me more after the fact. But yes we will see

T.Dot_E30 08-01-2013 12:15 PM

Hopefully you don't get dropped, let us know if insurance tries to pull anything on you after all this is done, it will after-all be treated as an at fault claim. So your insurance will go up.

I didn't think it was worth the risk of this type of claim unless it was a huge payout.

propr'one 08-01-2013 12:32 PM

^^it may not be. technically its a mechanical failure that led to the accident, which would be not at fault.

T.Dot_E30 08-01-2013 12:33 PM


Originally Posted by propr'one (Post 1619492)
^^it may not be. technically its a mechanical failure that led to the accident, which would be not at fault.

It's still a claim, call it comprehensive, call it at-fault. It still goes against you.

Unless you have forgiveness.

propr'one 08-01-2013 12:47 PM

i dont disagree, you did say explicitly that it would be taken as an at fault claim, which is what i was responding to.

dcramer 08-01-2013 12:55 PM

I am starting to agree that I should have not made the claim. I may decide to withdraw the claim at which point I can go to any other insurer and state that I have not made any claims

propr'one 08-01-2013 01:05 PM

i think you'll probably come out ahead, unless your insurance goes up 2K a year for the next three years you'll be fine. if they already made you an offer i would certainly take it. (they will probably give you close to 8 without the motor. ask to keep the motor if its not covered, then all you need is a bottom end and you've got a powerplant ready to go)

dcramer 08-01-2013 01:07 PM

Unfortunately when a rod goes everything is f.... One of the valve adjustment shims is broken.

If they gave me 8k I'd be good. Unfortunately it is much less they are offering.

dcramer 08-01-2013 02:37 PM

spoke to my broker. the following is why we need to go through brokers.
First of all the engine damage is prior damage, so they won't pay for that
2nd it is at fault as there is nobody else to blame
last and most important they can't drop you because they don't like you. They also can't make you sign away your rights as these are not insurance forms. Insurance is very regulated in Ontario, everything is form based. Even if you off roading your insurance applies. My ins will go up due to one at fault claim.

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