GEM-CAR FAQ
CARFAX - Common Questions on Vehicle History Reports - $0.00 Claims
$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 run vs. when the claim occurred. It’s possible 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 damage and type of repairs.
Other articles on the CARFAX vehicle history report:
Dollar Value: Amount has a Negative Claim
Posted 4 months agoby Olivier Brunel
#79954 viewsEdited 2 months ago