What's that term?
Our Insured’s 2007 Honda Civic is a total loss, what is the term for the amount we pay out?
Actual Cash Value (ACV)
Vehicle A and Vehicle B are driving eastbound on the 401, both vehicles cross the center lane at the same time, what % is each at fault?
Vehicle A - 50%, Vehicle B - 50%
An endorsement is used to modify, add or remove something from this?
An insurance policy
The insured's vehicle is stolen from their driveway overnight. Which coverage typically responds?
Comprehensive Coverage
This is this amount the insured pays out of pocket before their coverage applies
Deductible
Our insured, driving in Ontario, reports they are rear-ended by a vehicle while moving in stop and go traffic. Due to the impact, our insured slides forward and hits another vehicle in front on them. What % is our insured at fault?
50% (since the insured reported they were in motion). If our insured had been stopped, they would be 0% at fault.
This endorsement entitles the insured to a rental vehicle while their vehicle is being repaired or replaced
Transportation Replacement - OPCF 20
Our insured was driving home at night when a deer jumps out, they swerve to avoid the deer and then strike a tree. What coverage would this be and why?
Collision - The insured did not hit the deer, the damage resulted from colliding with the tree.
Protects our insureds when a stranger is hurt or killed
Bodily Injury
A driver pulled out of a private driveway and collides with our insureds vehicle travelling on the roadway. Who is at fault, and what %
The vehicle existing the driveway - 100%
Our insured purchases a brand-new vehicle and unfortunately gets in an accident 3 months later where the vehicle is a total loss. They want the claim settled without depreciation. Which endorsement would they need on their policy?
Waiver of Depreciation
Only available in certain Canadian Provinces, this coverage makes the insurance process easier and has the insured work with their own insurance company
Direct Compensation Property Damage
The process by which an insurance company collects money from the at fault party
Subrogation
Our insured is in a roundabout, when another vehicle enters in front of them. Our insured hits the front driver side of the entering vehicle. Who is at fault, and what %
Entering vehicle is at fault - 100%
An insured rents a vehicle while on vacation in Ireland. They back into a pole and damage the rental car. Which endorsement would they need to be covered?
Damage to Non-Owned Automobiles - OPCF 27
This section of a policy is mandatory and provides protection if an insured is legally responsible for injury or damages to others.
Third-party liability
A legal term that prevents an insurance company from going back on a previous action, statement or representation.
Estoppel
Our insured rear-ends another vehicle but claims the lead vehicle stopped suddenly. Under the Fault Determination Rules, does this automatically reduce the rear driver's fault?
No. The rear vehicle is generally still considered at fault
Our insured is stopped at a red light when they are rear-ended. The other driver initially provides insurance information, but we later confirm no policy existed on the date of loss. What coverage issue is now important?
Whether Uninsured Automobile Coverage is available and applicable to the loss.
Our Insured is rear-ended in Alberta, we collected all the third-party information, however, we confirmed the third-party’s policy was not active on the date of loss. Our Insured only has DCPD coverage. Is our insured covered, why or why not?
No - Alberta is the only province that does not carry Uninsured Motorist coverage; therefore our insured would need Collision coverage in order to cover this loss.