FAQ 
- What is Betterment?
- Where the results of repairs or replacement as a result of a loss results in the insured receiving something better than he had before the loss, the difference is known as “betterment”. In most instances, this difference is discussed before the repairs or replacement has been made and the insured has agreed to an appropriate figure as his contribution for this “betterment”. This is also referred to from time to time as “new for old”.
- Why do people retain legal counsel to deal with an insurance company in claims matters?
- When negotiations have reached a stalemate, or if there is uncertainty about the interpretation of the law or the interpretation of coverage, the services of a solicitor may be required for consultation purposes. In addition, lawyers can help when subrogation is a possibility and there is concern that legal rights need to be protected.
- How long does it take to process and settle a claim at Advantage after it has been submitted?
- Once we have received the relevant documentation the process begins immediately. Settlement is usually finalized within 45 days after all outstanding issues have been resolved.
- What documents does Advantage require when filing a claim?
- We require:
- Completed Motor Claim Form (visit our Resource Centre for this form)
- Original Certificates of Insurance, Fitness and Registration
- Driver’s licence for the person who was driving at the time of the accident.
- For comprehensive Policyholders who intend to make a claim from their policy, we also require the original Estimate of Repairs and Wrecker Invoice where applicable.
- Once liability has been established, Third Party Policyholders are required to submit:
- Estimate of Repairs
- Assessment Report
- Wrecker Bill (if applicable)
- Claim for Loss of Use.
Any other recoverable expense which may have been incurred as a result of the accident should also be submitted along with supporting documentation.
- I met in an accident this morning; may I give you the information over the telephone?
- Certainly, however you are still required to complete the Motor Claim Form and submit to us along with the other documents mentioned above.
- What step should I take if I have an accident?
- The full information on all the parties to the accident should be noted i.e. name, address, insurance company, passengers, injuries (if any). Identify any witnesses and take their particulars as this may become necessary in negotiations, especially if liability is in dispute. This information is to be provided to the Police and Advantage General (or your Broker) when you are reporting the accident.
The vehicle is to be properly secured until an Estimate of Repairs is prepared and an assessment of the damage is conducted by a Motor Vehicle Assessor.
- If I have an accident, do I need to report it my insurance company, even if I reported it to the police?
- Yes and this should to be done within 30 days of the date of the accident, in accordance with your Policy Condition #4.
Information on claims payments and managing claims.
