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Old 08-01-2013, 12:10 PM   #1
dcramer
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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.
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Old 08-01-2013, 12:22 PM   #2
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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.
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Old 08-01-2013, 12:23 PM   #3
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interesting, can you lowball insurance with engine value of 100.00? and keep 7900?
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Old 08-01-2013, 12:26 PM   #4
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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
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Old 08-01-2013, 12:25 PM   #5
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if you are racing you are not covered. Driver education is covered.

http://forums.rennlist.com/rennforum...the-track.html
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Old 08-01-2013, 12:27 PM   #6
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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
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Old 08-01-2013, 12:28 PM   #7
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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
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Old 08-01-2013, 01:15 PM   #8
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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.
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Old 08-01-2013, 01:32 PM   #9
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^^it may not be. technically its a mechanical failure that led to the accident, which would be not at fault.
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Old 08-01-2013, 01:33 PM   #10
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^^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.
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Old 08-01-2013, 04:01 PM   #11
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It's still a claim, call it comprehensive, call it at-fault. It still goes against you.

Unless you have forgiveness.
Exactly. How twisted is that eh? You are obligated by law to buy insurance from a PRIVATE insurer. You pay for insurance for many many years, giving them business, and when it's time to get what you are paying for (protection), you are either "forgiven" because you buy into the "forgiveness" plan, OR you get paid out and either kicked out or your rates go up. Lose/Lose situation in all directions.
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Old 08-01-2013, 01:47 PM   #12
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i dont disagree, you did say explicitly that it would be taken as an at fault claim, which is what i was responding to.
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Old 08-01-2013, 01:55 PM   #13
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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
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Old 08-01-2013, 02:05 PM   #14
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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)
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I run a canadian HID kit company, if you have any questions about hid kits in canada or would like to check out our products please contact me here: http://absolutehid.ca

Hot: 2001 Estoril M RoadsterZCP 19's michelin supersports, ZHP knob, JL 8W3
Cold: 2002 TiAg M3 6mt ZCP 19's michelin supersports, deoranged, dechromed, led tails, ZHP knob, UUC SS v3, GROM, OEM 18's w310's,
fun: 2006 YZF-R6, black
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Old 08-01-2013, 02:07 PM   #15
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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.
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