Insurance Bureau of Canada Launches VIN Verification Service to ID Flood-Damaged Cars
To protect consumers, Insurance Bureau of Canada (IBC) and its member insurance companies have compiled a database of flooded vehicles that have been reported and branded as non-repairable due to flooding across southern Alberta and the Greater Toronto Area.
Severe weather events, such as heavy rainfall, are getting more intense and are leaving communities under water and scores of flood-damaged vehicles. With water-damaged electronic components, potential mould and other issues, flooded vehicles are unsafe and are not legally allowed to be placed on the road.
“In the aftermath of a flooding event, fraudsters may attempt to cleanup and resell storm-damaged vehicles to unsuspecting consumers. This new free VIN Verify Service on ibc.ca helps to protect consumers by allowing them to check whether a vehicle has been reported as flood damaged and non-repairable by participating IBC member insurance companies,” says Rick Dubin, vice president of Investigative Services at IBC.
This activity of reselling flood-damaged vehicles occurs frequently after severe weather events in Canada and in the U.S. It is something everyone should be aware of at all times, especially after major catastrophic events where fraudsters are looking for opportunities to take advantage of consumers.
Source: Insurance Bureau of Canada
- EVs Head for Junkyard as Mechanic Shortage Inflates Repair Costs
- EPA Designates PFAS Chemicals as Superfund Hazardous Substances
- Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
- Work Safety Group Releases List of ‘Dirty Dozen’ Employers
- Poll: Consumers OK with AI in P/C Insurance, but Not So Much for Claims and Underwriting
- Report: Vehicle Complexity, Labor ‘Reshaping’ Auto Insurance and Collision Repair
- Ship Owner in Bridge Collapse Seeks to Limit Its Liability
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road