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This is a discussion on Insurance Premiums within the Motorcycle Insurance forums, part of the General category; Hey guys, Just a question regarding insurance policies. I started mine in October of 2007, so its about to expire ...


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Old 02-03-2006   #1
Max
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Hey guys,

Just a question regarding insurance policies. I started mine in October of 2007, so its about to expire soon. When I initially signed up the contract with the broker- I was told it would go down to an amount - about $800 / yr for liability coverage only after one year.

I took a little spill during the summer- and I called them out of panic. I didn't end up making a claim but it was reported as a minor incident. It was a minor accident (on my own)- small bit of damage.

I was stupid for calling them- I only have liability coverage so they couldn't help me anyway.

Anyway so I got the letter from the broker awhile back and the premiums stayed exactly the same. Anyone think I have a good argument in fighting it down to what it was "supposed" to be? I'm with Jevco on a 2001 zzr 250.

Thanks in advance!
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Old 02-04-2006   #2
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The agent may have put a note on your account. When I was younger my mother got into an accident where she was at fault and the genius put the accident on my record not hers. I still suffer from this moron agents mistake because when I called statefarm for a quote I was quoted with an accident, so becarefil and ask them what they have on you. Also why you would call insurance at all when you have liability only is beyond me. Definatly give them a call and straighten them out.
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Old 02-04-2006   #3
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Section 5 of the application for automobile insurance asks for:

"Details of all accidents or claims arising from the ownership, use or operation of any automobile by the applicatn or any listed driver during the last 6 years..."

If you had an accident of any kind, single vehicle, multi vehicle etc. you are obligated to disclose it. If it's a single vehicle accident then there is only one party to assign fault to. In short, you're stuck.
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Old 02-05-2006   #4
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Seeing that the original poster's premium is unchanged, my guess would be that the unclaimed occurrence is not affecting his rate, but that the agent was just incorrect when he told him that his premium would be reduced in the next year.

Cheers!
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Old 02-05-2006   #5
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Seeing that the original poster's premium is unchanged, my guess would be that the unclaimed occurrence is not affecting his rate, but that the agent was just incorrect when he told him that his premium would be reduced in the next year.

Cheers!

Or he was already a 0*...
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Old 02-06-2006   #6
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Hey guys,

Just a question regarding insurance policies. I started mine in October of 2007, so its about to expire soon. When I initially signed up the contract with the broker- I was told it would go down to an amount - about $800 / yr for liability coverage only after one year.

I took a little spill during the summer- and I called them out of panic. I didn't end up making a claim but it was reported as a minor incident. It was a minor accident (on my own)- small bit of damage.

I was stupid for calling them- I only have liability coverage so they couldn't help me anyway.

Anyway so I got the letter from the broker awhile back and the premiums stayed exactly the same. Anyone think I have a good argument in fighting it down to what it was "supposed" to be? I'm with Jevco on a 2001 zzr 250.

Thanks in advance!

Jevco Insurance will provide Preferred rates following one full year of bike insurance experience without an At Fault accident. Moving from first time insurance rates to preferred rates will usually result in a several hundred dollar premium drop.

If your rate is very close to last year's rate, then in all likelihood, the accident is being charged against your record. Bear in mind that a single bike accident will be considered an At Fault loss.

In a situation such as this, it is a good idea to discuss with your broker the pros and cons of submitting a claim to the insurance company. This will help you make an informed decision. Once the insurer is notified of the accident they will rate accordingly.

I recommend you contact your broker and first confirm, whether or not you are being charged for the accident. If you are being charged, and it was single bike accident with a $0 payout and no injury; your broker may be able to lobby the insurer on your behalf to have the accident not count against your record.

It's certainly worthy of a try. Good luck!
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Old 02-06-2006   #7
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Section 5 of the application for automobile insurance asks for:

"Details of all accidents or claims arising from the ownership, use or operation of any automobile by the applicatn or any listed driver during the last 6 years..."

If you had an accident of any kind, single vehicle, multi vehicle etc. you are obligated to disclose it. If it's a single vehicle accident then there is only one party to assign fault to. In short, you're stuck.


Not true.

Section 1.4.4 of the Ontario Automobile Policy states that you must report all incidents to your insurer that must be reported under the HTA. if the total damage was less than $1000 your accident didn't need to be reported to the police and hence you were under no obligation to report it to your insurer. Try arguing that you weren't under any obligation to report this to your insurance company and therefore they should not use it against you.

One final point, if your premiums "stayed the same" I'd consider yourself lucky.
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Old 02-07-2006   #8
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If it was reported though, he'll have a claim on his record, and he will be obligated to disclose it.
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Old 02-08-2006   #9
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If it was reported though, he'll have a claim on his record, and he will be obligated to disclose it.

yes, that is what he said before, IF it was reported, then disclose, if not, no.
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Old 02-08-2006   #10
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Not true.

Section 1.4.4 of the Ontario Automobile Policy states that you must report all incidents to your insurer that must be reported under the HTA. if the total damage was less than $1000 your accident didn't need to be reported to the police and hence you were under no obligation to report it to your insurer. Try arguing that you weren't under any obligation to report this to your insurance company and therefore they should not use it against you.

One final point, if your premiums "stayed the same" I'd consider yourself lucky.

Won't work. Once you chose to report it, it's on your records. No insurance company will take it off of your recored. Best bet is to ask them not to rate you for the accident since there was no damage paid on the "claim". Some insurance companies will choose not to charge for a zero payout claim. However, if you were to change insurance companies, the new one will most likely charge for it as it is an accident.

I would recommend you to call your broker to check under the insurance companies underwriting guidelines the definition of a "chargeable accident". Sometimes with $0 pay out, no damages to other property, no injuries, etc. the guidelines state that they cannot charge you for the accident. Every insurance company has different wordings.
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