$0.00 Claims
A zero-dollar insurance claim indicates that damage occurred, but the monetary value is either unknown or the claim is still in progress. Reasons this may happen include:
- The insured did not follow through on a reported claim - perhaps the individual ended up paying out of pocket for the repairs.
- The insurance company denied the claim – a claim could be denied by insurance if the insurer was breaking the law (example: drinking and driving or speeding).
- The claim has not yet been paid or settled - pay attention to when the report was ran vs. when the claim occurred. It’s possible that the claim is still too new and information hasn’t been updated yet.
- ICBC will not show what they paid out to the customer - in British Columbia, if a vehicle is salvaged and the claim is from ICBC - they will often show a $0.00 claim for the incident in question.
CARFAX Canada always recommends that you complete a pre-purchase inspection of the vehicle to find out the extent of the damage and type of repairs.
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