Car insurance isn’t just a legal requirement in Ontario; it exists to keep drivers, like yourself, protected and financially prepared for the events that can potentially follow an accident. If you get into a serious accident, your car insurance will cover all or a portion of the related expenses (depending on your type/level of coverage).
However, we know that car insurance can be confusing at times. At Surex, we receive questions from drivers in Ontario all of the time. One of the questions that our advisors receive on a regular basis is “how long to settle car accident claim in Ontario?”.
Unfortunately, this simple question doesn’t have a simple answer. But, if you do some research, you can get a better idea of how long it will take to settle your car insurance claim.
*Please speak to a licensed Surex insurance advisor for more information regarding up-to-date, accurate quotes, pricing, claims, etc.*
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What is a car accident insurance claim settlement?
A car accident insurance settlement is the transferral of funds from a car insurance company to the injured party.
The following variables can influence the overall scope of your car insurance settlement in Ontario:
- The severity of injuries
- The level of physical damage the vehicle has sustained
- Medical expenses
- Loss of wages
- Whether the injured party can return to work or not in the future
It’s also worth noting that the negligence level of the at-fault driver plays a role in the claim settlement process. If the at-fault driver was under the influence of drugs/alcohol or distracted on the road, this will further influence the scope of the settlement.
Car accident settlements in Ontario — how long do they take?
There isn't a set-in-stone answer to this question due to the fact that every accident is different; thus, they require varying levels of time and resources.
In some cases, it can take a matter of days, while a different car accident settlement can take several weeks or months.
For instance, a head-on collision involving two parties and minor injuries will generally take less time to settle than a chain-reaction accident involving several drivers. The former accident has fewer variables at play, so it would generally take less time to settle.
Will a car insurance settlement influence your insurance rates in Ontario?
A car insurance settlement can affect your car insurance rates if you’re found at-fault; however, there are some exceptions.
In some cases, you will not see a rate increase if you are not deemed at-fault for the accident. Additionally, there are certain situations where you may not see a rate increase even if you are deemed at-fault. Speak with your insurance provider or a licensed insurance advisor for more information.
How long do you have to file a car insurance claim in Ontario?
There are no hard-and-fast rules or laws in Ontario regarding the time frame in which an insured party has to file a car insurance claim.
That being said, we highly suggest that you submit your insurance claim as quickly as possible (preferably within seven days of the incident).
How long does it take to file a car insurance claim in Ontario?
The answer to this question depends on who your car insurance provider is and the severity of the accident. But, in many cases, you can file a car insurance claim in 30 minutes to an hour.
How do you submit a car insurance claim in Ontario?
The claim filing process is relatively straightforward. Here’s a quick, step-by-step guide on how to file an insurance claim in Ontario:
- Report the accident to the authorities
- Have a conversation with your car insurance provider
- Give your car insurance provider information about how and where the accident took place
- Speak with your insurance adjuster and answer all of their questions
- Get a professional estimate for the vehicle damage and necessary repairs
- Find an experienced mechanic that you trust
- Close the car insurance claim
You should have the following information available while you’re filing a car insurance claim in Ontario:
- The registered owners insurance company and their insurance policy number
- General vehicle information (make, model, etc.)
- The driver’s name and driver’s license number
- The severity of the injuries and vehicle damage
- The number of passengers
- The names and license numbers of the other driver’s involved in the accident
- The names and car insurance policy numbers of the other drivers involved in the event
- The license plate number of the other drivers involved in the event
- The credentials (badge number, name, etc.) of the police officer that was present at the scene of the event (if the authorities were involved)
Having this information on hand makes it easier for your insurance carrier or broker to provide you with the information that you need.
Do you want to learn more about the car accident insurance settlement process in Ontario?
Do you have unanswered questions about car insurance settlements in Ontario? Reach out to one of our licensed advisors today! We’re always happy to answer your questions and clarify any aspect of your current (or prospective) policy that seems unclear.
