Insurance companies are such bloody crooks

[PLau]

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I was hit buy a truck. I was in a 2009 RX8 and the insurance company determined it was a total loss as in their words "it would cost more to fix than it was worth". BTW, the car was never taken to a body shop, this was based on an insurance adjuster looking at it. It actually didn't look that bad to me but in their words "What would you know"

They offered me $16000 for it - take it of leave it. The car was spotless with only 23000km on it, garaged all its life.

Looking around on autotrader it would take at least $25000 to replace it and those don't have all the options mine did. When I brought this up they said that autotrader was not accurate.

I was advised to hire an independant apraiser that could access the damage and give me the real value of the car. Before I could do this they had it moved from the tow companys compound and taken for whatever they do with scrap. It still had all my personal stuff in their including my laptop and my plates.

Do I have any recourse with these guys? I called FSCO but they basically said there was nothing they could do.

Any insight would be appreciated.

Thanks

BTW, its TD Home and Auto. If you have any insurance with them I would suggest you look elsewhere.

Oh boy, were you the black rx8 that got hit near Steeles and 400 or was it 400 and Finch... (bad memory)? If so, that was horrible.

If you were that car I am mentioning, the damage didn't seem like it would cost more than the car was worth. busted driver side doors and windows. Probably around 1-2G's a door but there could be mechanical issues with the rest of the car.

 

[Delboy]

Oh boy, were you the black rx8 that got hit near Steeles and 400 or was it 400 and Finch... (bad memory)? If so, that was horrible.

If you were that car I am mentioning, the damage didn't seem like it would cost more than the car was worth. busted driver side doors and windows. Probably around 1-2G's a door but there could be mechanical issues with the rest of the car.

It was black but was the 407 and 400. Because the truck bumper was so high it pushed it's way over the floor and ended up just behind the drivers seat. It basically remover the back of the car above floor level and If anyone had been in the back they would have been dead.

 

[Delboy]

I ended up settling with the insurance company for $9k over what they originally offered. Many thanks to the guys at Car Help Canada

It turns out the driver was uninsured so I had to pay my $300 deductible so I would have to sue the company to get that back. Who in their right mind would operate a transport business without insurance. They have been charged.

I broke mu wrist and leg and TD classified that as a minor injury. I only get $3500 for all my rehab and expenses and that money is almost gone. I haven't even got the casts off yet.

I am so ****** at them right now.

 

[elton_t]

i would expect canadian insurance companies to be a lot better than usa because we are paying more... but from this incident it's obvious...

Is that all you are suing the company $300? because i would have driven without insurance if everyone only sue me for a few hundreds and court fines only $5000. some people their insurance is over or close to $5000/year already

 

[Delboy]

i would expect canadian insurance companies to be a lot better than usa because we are paying more... but from this incident it's obvious...

Is that all you are suing the company $300? because i would have driven without insurance if everyone only sue me for a few hundreds and court fines only $5000. some people their insurance is over or close to $5000/year already

I know the fine is between 5-25k for first offense. From what I understand my insurance company has to try and sue the transport company to recoup all off the money they pay out. Perhaps someone who knows how this works can comment.

I will recover but if had It been worse they would have been liable for everything-which means nothing as they can just put the company in receivership and walk away.

What really pisses me off is with the new laws that were passed last year and no fault means I'm not entitled to any more than 3.5k. Now I have to personally sue the transport for my subsequent costs and probably will never see a cent even If I do get a judgement.

For those of you that think you have insurance and the company will help you out when you need it - think again. As my lawyer said, they are cut throat and are in business only to make money for their share holders

BTW. I used to keep a bike in the Bay Area and was insured by Geico I had way better coverage for 1/4 of what pay in Ontario, and they are law suit crazy in California. Not to mention the insane cost of healthcare.

OK. Rant Off...........

 

[VifferFun]

As my lawyer said, they are cut throat and are in business only to make money for their share holders

Wow, the irony of that statement gave me a chuckle. The lawyers are the ones responsible for driving the insurance rates to sky-high levels in the first place, and hence necessitated the insurance reform. What do you suppose the goal of a personal-injury lawyer is -- to be a shoulder for their client to cry on, or to make money for themselves by offering legal services?

Most insurance companies will treat you well, but it's the horror stories that hit the news (since no one is interested in reading about someone who was pleased with their insurance settlement). Over 80% of claimants in Ontario are satisfied or much more than satisfied with their claims experience. If you get a bad insurance company (or even a bad claims adjuster within an insurance company), then by all means fight for a fair settlement.

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