Every week we'll highlight the best question sent to our resident insurance expert, Anne Marie. Thomas. This week's question comes from Jeff, who wonders what the reporting requirements are in cases where you don't want to make a claim.
"Are you required to report ALL accidents to your insurance company even if you are not cited and are not making a claim?," asks Jeff.
"If you fail to report such an accident, can the insurance company refuse to pay and/or discontinue your policy if the other party makes a claim later on?"
Anne Marie says not reporting accidents can bite you in the long term.
"I don’t know what province/state you are insured in but what I can tell you is that in Ontario, Canada, you must report any accident where there is injury or property damage to your insurance company within seven days.
"If you don’t report an accident within a reasonable amount of time, the insurance company may not pay the claim.
"You should check with your insurance broker/agent to see what the rules are where you live."
Not reporting accidents to your insurance company means they may not pay out on the claim if you decide to make one further down the road. Transparency is always the best plan when dealing with any insurer.
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