Coilovers & insurance

[hockeyfan27]

Originally Posted by Discostar

...FYI there are many more cases that go the same way mine did, you just don’t hear about them because you don’t get those individuals raving about it on public forums like you would when someone runs into trouble. Even then only a few companies seem to have serious problems with denying claims for a few little unrelated mods. That’s not to say it doesn’t happen in all companies to some degree, just not as often as its made to seem in the online community.

This is very true. Admittedly, my perspective is skewed. I only get calls from the company adjuster saying "did you know about this???" If there were mods that were not reported to me and the claim was simply paid, I would have no clue.

[Deep 3.2TL]

Originally Posted by Discostar

I'm sure you have, and put the gun down, I wasn’t disagreeing with your advice.

FYI there are many more cases that go the same way mine did, you just don’t hear about them because you don’t get those individuals raving about it on public forums like you would when someone runs into trouble. Even then only a few companies seem to have serious problems with denying claims for a few little unrelated mods. That’s not to say it doesn’t happen in all companies to some degree, just not as often as its made to seem in the online community.

At this point we all know that no insurance company likes modified cars, and if you have a bad record and do something really stupid on top of that, they will take advantage of every loop hole to save their own asses.

I'm no fan of insurance companies either, your advice was good, as long as the OP covers his own ass like you suggested, he will be fine. But I doubt he will even have to use that leverage when the time comes because for the most part they honor the claim.

You do know that HockeyFan is an insurance broker, right? Kinda has more insight then most of us here...

[Discostar]

Originally Posted by Deep 3.2TL

You do know that HockeyFan is an insurance broker, right? Kinda has more insight then most of us here...

No, I didn’t.

Like I said, I wasn't looking to discredit anyones advice, I'm sure he is a very knowledgeable guy and good at what he does. Perhaps you should take the time to re-read his previous post though.

I have three close friends in the industry who all give me regular insight on how things transpire. One is an adjuster, the other two are brokers. I don’t claim to know everything, but that doesn’t make what I said any less true.


Hockeyfan, what company are you with?

[hockeyfan27]

Originally Posted by Discostar

...Hockeyfan, what company are you with?

Hi Discostar, I work at Brokerforce Insurance Inc. www.brokerforce.ca (not .com) if you are checking us out online.

My position is this; Good advice is based on the rule, not the exception. Better advice comes from a source who is accountable to (read: "being paid by") you ie: your lawyer or broker. There is a different responsibility there, rather than a friend who is a lawyer or broker. It's easy for a buddy to say, "the insurance company I work with/for doesn't really care about coilovers, I wouldn't worry about it." Unless he is YOUR broker/agent on record, that advice doesn't have any consequences for him, just for you.

This is why when I post general information and advice about insurance I always post the disclaimer, "call you own agent or broker and discuss it with them". There are over 100 insurance companies operating in Canada. I only work with 10-20 (depending on the product). Each company has it's own unique set of rules and tolerances. I can't possibly know it all.

[5ABIVT]

No insurance company wants to pay. They don't care about you or your car. They don't care if you die. They are in business to make money. The first thing they will ALWAYS do is try and get out of paying out a claim. Just be smart. Tow the car home and remove the parts first if you are worried. Just be smart.

No offense to hockeyfan he's making a living but F** insurance companies in Ontario.

[hockeyfan27]

Originally Posted by 5ABIVT

No insurance company wants to pay. They don't care about you or your car. They don't care if you die. They are in business to make money. The first thing they will ALWAYS do is try and get out of paying out a claim. Just be smart. Tow the car home and remove the parts first if you are worried. Just be smart.

No offense to hockeyfan he's making a living but F** insurance companies in Ontario.

I understand why this is the general perception, but it truly isn't the case.

1- The same laws that dictate your requirement to advise of modifications outline why a claim can be denied. Insurance companies can be fined by the courts for blatant wrongful claim denial. If you play by the rules they have to, too. You don't, they don't.

2- As with most businesses, Insurance companies are competing with each other. If they get a bad rep for denying claims, they tend to lose clients quickly to those other companies.

3- Any company who writes through the broker channel (not direct writers like CAA, TD, or Belair or captive agent companies like State Farm or Allstate) runs the risk of souring the brokers opinion of that companies claims service. As a broker, if my clients are routinely mistreated by Insurance Company ABC, I would be inclined to approach one of my other companies, who has been providing quality claims service, and negotiate the transfer of EVERY client I have with Company ABC. For a broker channel company all it takes to loose millions in business is to treat the right client, poorly.


RE: removing parts after a claim. I've heard this before and in theory it sound like a good plan. However, if you injure or kill someone you car is usually impounded. If you are injured, you won't have that opportunity. I have a hard enough time wrenching on my own car when it's in good condition. I can't imagine trying to crowbar a turbo out of a car that has been smashed, then trying to put your stock intake system back in.


Don't worry about offending me. I realize my role here is often to be the whipping boy for the industry. I have thick skin and don't take it personally.

[SiR]

[NOTORIOUS VR]

Originally Posted by hockeyfan27

2- As with most businesses, Insurance companies are competing with each other. If they get a bad rep for denying claims, they tend to lose clients quickly to those other companies.

Like Avia jerking me around.

I tell everyone to stay away from them now any chance I get. If only one person changes their mind I would be happy.