Damage to Your Car. Damage to Your Insurance.



    TORONTO, Jan. 28 /CNW/ - Car accidents are stressful. "The question of
'what happens next?' haunts drivers and only compounds the anxiety after an
accident," says Lee Romanov, President of www.InsuranceHotline.com.
    Romanov asks rhetorically, "To Report, or Not to Report...that is the
question."
    What is required legally for reporting an accident to police?
    What is required contractually by your insurance company?
    What do you do when you're involved in an accident? "The answer is not
taught in school," says Romanov. "Unfortunately, drivers usually learn the
hard way - by getting into an accident."
    For example, you need to report an accident to the police when there is
damage to public or private property, but it's not the responsibility of the
police to report the accident to insurance companies.
    The police determine if there has been a violation of the law, but your
insurance company determines fault, which determines if your insurance rate
increases.
    "My step father was getting out of his car and another vehicle backed
into him. He was deemed to be partially at-fault. His insurance policy was
cancelled, my mothers insurance was cancelled, and their rate went from $1,572
to over $6,000." says Romanov.
    Even if the police determine that you did not break any laws, your
insurance company can still deem you to be at-fault for the accident and this
could send your insurance rate skyrocketing.
    "After an accident, drivers are paralyzed with fear of escalating
insurance rates," says Romanov. They fear their insurance company may cancel
their policy and are plagued with the prospect of researching a new rate.
"Ironically," quips Romanov. "I've talked to drivers who have shopped for a
better rate on www.InsuranceHotline.com (a comparative rating service) and
have found a lower rate with an accident than they were paying with a clean
record."




For further information:

For further information: about what is required by law and how it
relates to your insurance rate contact: Lee Romanov, President,
InsuranceHoltine.com at (416) 699-4378, (416) 596-4335, lee@romanov.ca

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