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Thread: Rate increase for hit and run on parked vehicle.

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  1. #1
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    Rate increase for hit and run on parked vehicle.

    In the case of a car being parked legally on a city street and struck by another vehicle which fled the scene: would reporting the accident to the Collision Centre (and their subsequent reporting to one's insurance company) increase the insurance rates of the parked car if no claim is made?
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    It is calssified as a NOT AT FAULT accident and should not impact your rates.
    HOWEVER,

    Your collision deductible will apply, and you will need to report this as a hit and run with the police.
    If your expecting a rental vehicle while yours is being repaired, you will need to have Loss of Use coverage on your policy as well.

    Call your insurance company and confirm that information with them, but that is how it works with my company.
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    Good to know. Supposing one doesn't have collision insurance on a vehicle (liability only) how does that work re: repairs or write off in a not-at-fault accident. I know in Ontario your company always pays for damage to your vehicle regardless of fault, but does that mean you're boned if someone (for example) T-bones you and they are at fault?

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    Quote Originally Posted by silverbullet91 View Post
    Good to know. Supposing one doesn't have collision insurance on a vehicle (liability only) how does that work re: repairs or write off in a not-at-fault accident. I know in Ontario your company always pays for damage to your vehicle regardless of fault, but does that mean you're boned if someone (for example) T-bones you and they are at fault?
    bump... would also like to know this.

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    Quote Originally Posted by silverbullet91 View Post
    Good to know. Supposing one doesn't have collision insurance on a vehicle (liability only) how does that work re: repairs or write off in a not-at-fault accident. I know in Ontario your company always pays for damage to your vehicle regardless of fault, but does that mean you're boned if someone (for example) T-bones you and they are at fault?
    If your not at fault, and the other party is identified, and is found at fault by the insurer a portion of your policy called DCPD will respond.
    Now in the case of a hit and run, and the third party wasnt identified, and you didnt have collision you would not have coverage. The cost of collsion is a small part of your policy. I always recommend to my clients to take collision, you never know when a slippery road could casue you to go off it and have a damage claim.

    Sorry it took so long to reply, it was life insurance year end and I havent had much time to even think. - YES not only do I do home, auto, commercial but I have to do life and health and group benifits as well.

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    My neighbor backed into my LEGALLY- STREET-PARKED 1 month old Jeep while I was in bed sleeping. She admitted full RESPONSIBILITY and paid for a NEW BUMPER.. 2 weeks later I received a phone call from my INSURANCE COMPANY informing me that my DEDUCTABLE would now be RAISED to $500.00 from $300.00 due to now being a HIGH-RISK even though it was my 1ST claim ever in 31 YRS driving.. NICE!!!!!!!!

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    Quote Originally Posted by STRANDED View Post
    My neighbor backed into my LEGALLY- STREET-PARKED 1 month old Jeep while I was in bed sleeping. She admitted full RESPONSIBILITY and paid for a NEW BUMPER.. 2 weeks later I received a phone call from my INSURANCE COMPANY informing me that my DEDUCTABLE would now be RAISED to $500.00 from $300.00 due to now being a HIGH-RISK even though it was my 1ST claim ever in 31 YRS driving.. NICE!!!!!!!!
    Something doesnt make sense with this scenario. I am not sure how it applies to this thread either?

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