Automotive

At fault. First time forgiveness insurance

  • Last Updated:
  • May 19th, 2017 6:12 pm
Deal Fanatic
User avatar
Aug 11, 2008
7230 posts
529 upvotes
Burlington
never heard that one before... regardless of the payout, an at fault is an at fault and will be rated as an at fault
6mthatch wrote:
Mar 22nd, 2017 8:32 pm
I was told by belair that accident forgiveness is only granted up until a certain dollar value. Like you in the midst of an accident and think, Hmm, maybe i shouldnt hit my headlight cause that might put me over the threshold.
RIBO LICENCED INSURANCE BROKER(ontario) -OVER 30 YRS OF EXPERIENCE
YOUR BEST INSURANCE IS AN INSURANCE BROKER
All the information provided is for reference purposes only. The actual wordings, conditions and exclusions of your policy will apply.
Newbie
Mar 14, 2017
36 posts
6 upvotes
letmesee wrote:
Mar 22nd, 2017 3:48 pm
I encountered a minor accident this morning, and I am at fault.

This is my first time, and my insurance policy offers first time accident forgiveness

I am wondering if there is any catch down the road?

I am with Chieftain Insurance

Thanks.

What is a "minor accident"? Because is there even a need to call insurance for it, if it's "minor"? Better off just paying it out of your own pocket, if its less than 2 grand.
Deal Fanatic
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Aug 11, 2008
7230 posts
529 upvotes
Burlington
accident waiver, or accident forgiveness which ever your company calls it, protects your rating on your first at fault accident. Meaning your rates will not be increased due to your first at fault accident. for example... you currently are a 6 star driver with accident waiver protection, You have your first at fault accident. on renewal, you will remain the 6 star driver and continue to pay premium for the waiver. If you happen to have a 2nd at fault, you will drop to a 5 star on renewal. Have a 3rd at fault, most likely your policy will be non renewed. This protection is only for the company you were with at the time of loss, meaning, if you switch to a new company, they will rate you from the date of the at fault... so more likely a 0 star...
letmesee wrote:
Mar 22nd, 2017 3:48 pm
I encountered a minor accident this morning, and I am at fault.

This is my first time, and my insurance policy offers first time accident forgiveness

I am wondering if there is any catch down the road?

I am with Chieftain Insurance

Thanks.
RIBO LICENCED INSURANCE BROKER(ontario) -OVER 30 YRS OF EXPERIENCE
YOUR BEST INSURANCE IS AN INSURANCE BROKER
All the information provided is for reference purposes only. The actual wordings, conditions and exclusions of your policy will apply.
Deal Expert
Mar 25, 2005
20730 posts
1784 upvotes
letmesee wrote:
Mar 23rd, 2017 3:19 am
Thanks for the great info.

I am confused, whats the benefit of submitting a claim then pay it out myself under $2k?

Thanks
Nothing really, other than you completed the process.
Newbie
Apr 14, 2008
79 posts
14 upvotes
I had accident forgiveness with Travelers, and my premiums went up two years in a row. I confirmed with them twice but they claimed the usual BS reason for increasing.

I ended up getting a much rate with a competitor; despite having a new speeding ticket on-record prior to signing with the new insurer .
Deal Fanatic
User avatar
Aug 11, 2008
7230 posts
529 upvotes
Burlington
your premiums don't go up due to an at fault when its protected by accident waiver... most likely the company had a rate increase
larphraulen wrote:
Mar 24th, 2017 11:17 am
I had accident forgiveness with Travelers, and my premiums went up two years in a row. I confirmed with them twice but they claimed the usual BS reason for increasing.

I ended up getting a much rate with a competitor; despite having a new speeding ticket on-record prior to signing with the new insurer .
RIBO LICENCED INSURANCE BROKER(ontario) -OVER 30 YRS OF EXPERIENCE
YOUR BEST INSURANCE IS AN INSURANCE BROKER
All the information provided is for reference purposes only. The actual wordings, conditions and exclusions of your policy will apply.
Newbie
Apr 14, 2008
79 posts
14 upvotes
COSMIC5 wrote:
Mar 27th, 2017 12:19 pm
your premiums don't go up due to an at fault when its protected by accident waiver... most likely the company had a rate increase
I just find it strange that an insurance company, that I had no loyalty to, offered me a better price than my current insurer, who had "forgiven" my at-fault claim. I suppose they saw significantly more risk for my vehicle/region, in their data, two years in a row, than the competitor?
Deal Expert
Mar 25, 2005
20730 posts
1784 upvotes
larphraulen wrote:
Mar 27th, 2017 10:24 pm
I just find it strange that an insurance company, that I had no loyalty to, offered me a better price than my current insurer, who had "forgiven" my at-fault claim. I suppose they saw significantly more risk for my vehicle/region, in their data, two years in a row, than the competitor?
Correct. When I run a quote the gap between the lowest and highest insurer is $8k. Every firm has a different model.
Jr. Member
Feb 1, 2017
166 posts
140 upvotes
larphraulen wrote:
Mar 27th, 2017 10:24 pm
I just find it strange that an insurance company, that I had no loyalty to, offered me a better price than my current insurer, who had "forgiven" my at-fault claim. I suppose they saw significantly more risk for my vehicle/region, in their data, two years in a row, than the competitor?
The competitor probably just performed better the previous year(had better profits). Insurance companies base their rates on their performance as a whole, it's nothing personal. That's why you should shop around every year, the cheapest company last year could be the most expensive this year.
Deal Addict
Mar 12, 2010
1191 posts
44 upvotes
Aurora
Kasakato wrote:
Mar 22nd, 2017 4:07 pm
1. If you change insurers within the next 6 years, expect to be rated for the accident.
2. If you are at fault again within the next 6 years, expect to be rated for both.
Thought MVR only keeps your records for 3 years. Why are accidents 6 years? Or do insurance companies share accident information between each other?
Sr. Member
Nov 2, 2014
793 posts
180 upvotes
Scarborough, ON
tido88 wrote:
May 19th, 2017 2:36 pm
Thought MVR only keeps your records for 3 years. Why are accidents 6 years? Or do insurance companies share accident information between each other?
Accidents are 9 years for most companies.
Deal Addict
Mar 12, 2010
1191 posts
44 upvotes
Aurora
RobertSmalls008 wrote:
May 19th, 2017 2:58 pm
Accidents are 9 years for most companies.
So when you switch insurance companies how does the new insurance company know of the accident after 3 years, and it's no longer on your MVR?
Deal Expert
Mar 25, 2005
20730 posts
1784 upvotes
tido88 wrote:
May 19th, 2017 3:53 pm
So when you switch insurance companies how does the new insurance company know of the accident after 3 years, and it's no longer on your MVR?
Autoplus and you would have to declare it on your new application.

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