44 Replies to “Insurance loopholes: What you need to know about car, home and travel insurance (CBC Marketplace)”

  1. in the US you can tell your insurance company you want Replacement Cost. But if you don't ask for it your just getting Actual Cash Value (repl cost- depreciation). It's not a loophole it's just incumbent on you to ask for it.

  2. icbc canada: Industrial and Commercial Bank of China (Canada), formerly The Bank of East Asia (Canada), was founded in 1991; it was the Canadian unit of the Bank of East Asia Group in Hong Kong.

  3. What they do not tell us is that many of the cars involved in major accidents are sent to third World countries and sold for the maximum value and rarely do they tell the buyers that the car was in an accident.

  4. WRONG . Insurance is not there to protect you,, Insurance companies exist TO MAKE A HUGE PROFIT, and the best way to do that is to SCREW YOU as often as they can.

  5. "You owe us $300k"

    "Talk to my lawyer"

    "You don't have a lawyer…"

    "You don't have $300k. Do you know the difference?"


    "I can get a lawyer one day. You'll never get a penny from me."

  6. This is why these scumbag “insurance” companies make billions of dollars in profit every year. They protect their margins and their 6 figure plus salaries and ruin people financially and not bat an eye. Legislation needs to overtake this industry. They can’t be trusted.

  7. i don't know anything about insurance but when i think about it, i kind of understand why they would do that. For example, about the flood insurance, wouldn't they go bankrupt if they cover every single person after floods every year? This is not charity, this is business, ofc they have tricks in their sleeves which is totally understandable.

  8. The real scam is the American health system… $350,000 for a surgery the patient would certainly have died without? This should be a breach of human rights.

  9. Seems like a lot of people come here just to rip on Canada. Maybe it's because we have a media that doesn't pretend we're a perfect country and exposes many our flaws to the public. Idk. Childish comments are pretty cool.

  10. Upon a large loss, insurers will talk to your family doctor, lookup your prescription drug purchase history, etc etc. If your doctor didn't know you had a heart condition, and if you weren't taking any heart meds, you'd be covered by the insurance policy. How could anyone NOT KNOW they had a pre-existing condition when ticking off that question?

  11. #1. Travel couple – he had a pre-existing condition, insurance company is in the right. Imagine, you know you have heart problems, you buy travel insurance, go to the US, induce a heart attack, and you think the insurer should pay $400,000 for a free bypass for $300 bucks of premiums?! Can you imagine!
    #2. Diminished value – the vehicle is old, future market value isn't something that is insurable! Only newer vehicles would insurers offer an optional coverage 43A to cover depreciation!

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