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Just The FAQs Ma'am!

How do you decide if my vehicle is a write-off?
How long will it take to settle my claim?
What can I do to make sure things move along quickly and smoothly?
Will this claim affect my premium?
What is a deductible and when would I pay it?
Will I get my deductible back?

How do you decide if my vehicle is a write-off?

A car is written off when it doesn't make economic sense to repair it. The following formula illustrates how to decide whether to repair or write-off. These examples assume a repair cost of $4,500 (including a car rental if applicable) on two different vehicles. 

Market Value - vehicle's value prior to the loss 

Salvage Value - vehicle's value after the loss (prior to repairs).

Car 'A'		Car 'B'
Market Value	$5,000	Market Value	$7,000
Less Salvage Value	($1,000)	Less Salvage Value	($1,500)
Equals Net Value	$4,000	Equals Net Value	$5,500

The net value of car 'A' is less than $4,500 (cost of repair) so it becomes a write-off. The net value of car "B" is more than the $4,500 (cost of repair) so it is repairable.

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How long will it take to settle my claim?

The size and complexity of your loss will dictate how long it takes. Here are some examples of time frames. 

• Most cases of minor vehicle vandalism and stolen bicycles: Several days. 
• An uncomplicated vehicle write-off claim: One to two weeks. 
• Major house damage: Approximately one to two months. 
• Major house fires: Approximately three months to a year. 
• Car accident injury claims: Three months to two years, depending on the seriousness of the injury. If there is a lawsuit, it could take as long as five years. 

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What can I do to make sure things move along quickly and smoothly? 

Contact Us immediately after the loss. Provide detailed and accurate information. Discuss with the adjuster the claims process and what will be required for your particular loss. Quickly provide police reports, witness names and all other documentation for claim assessment. Complete all forms accurately, and in full. This is particularly important on medical forms, content lists and proof of loss forms. If your vehicle is a write off, do your own research on its value. Settlement negotiations are usually quicker with clients who have accurate knowledge of their vehicles worth. Be honest, forthright and cooperative with your adjuster. 

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Will this claim affect my premium? 

There are many factors to consider, particularly in today's competitive market place. Many insurance policies carry discounts if you are claims free. If you have questions whether it is worthwhile putting in a claim, please Contact Us. 

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What is a deductible? 

A deductible is the portion of the loss you have agreed to pay, regardless of fault. After a covered loss, the insurance company will reimburse you for your loss less the amount of the deductible. 

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Will I get my deductible back? 

Generally speaking, you will not get your deductible back but there are some exceptions. Example: If you are in a car accident and the other party is proven to be at fault, the other insurance company would repay you. If someone damaged your home, either the guilty party or their insurance company (if they have one) would refund your deductible.

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