haivle

hi guys, im running into some trouble here i bought a used car 2 years ago , got into an accident and now the insurance is asking me to provide bill of sale but i lost it long ago and cant seem to find it insurance company say i need to provide bill of sale for them to issue payments. i was wondering does anyone know if the MTO keeps record of the bill of sale?

KILRWAIL

Would the insurance company accept a Used Vehicle Information Package? You could buy one from MTO for $20, which would prove that you bought the car, and from whom. Sorry to hear about your accident.

ZR8ED

When you registered the car, you would have paid tax on the purchase price, and you would have received a receipt. Find that receipt.

theiceman

Ins are crooks. All they are interested in is not overpaying you for your car..there is no other reason they need it. I bet they can not give you one. Bill of Sale has nothing to do with an accident unless you are claiming a ridiculous amount and even then there is no legal or other requirement you retian your bill of sale .. it merely tilts things in their favor. Tell them you dont have it ... and see whats next .. if they say they wont pay out threaten legal action as their is no requirement you provide it in your ins papers. I will bet you could go through yur whole policy and no where will it say you need to provide this.

Christien

I agree with Clive. Fight them, escalate to superiors, etc. Make them prove to you why you need a bill of sale. Ask them to direct you to the appropriate clause in your policy.

Topaz330ci

That's not typical practice for them to ask for a bill of sale... That doesn't make sense at all.

Best thing to do is get a UVIP as mentioned above and all the tax receipts... that should be enough justification right there...

Christien

I disagree. Let them come to you with a value and then make them justify it. They WILL give you this info if you demand it.

Imo000

Yup, let them do the work. A two year old bill of sale is worthless anyways. Unless you have an agreed values, doesn't sound like you do, they are obligated to pay you fair market value for the car. For this, they have to come to you with an amount. However, NEVER take the first offer......or even the second for that matter. Ask for their assesment list (cars that are used to average the price) pay attention to everything, including the location the comparing cars are from.

My brother just went throught this last week and they were comparing vehicles from QC, SK, and AB. To them, this was fair market value. If we didn't apy attention to the details, they would have won.

Insurance companies only have one bussiness to do...to make money, nothing else.

Turbodan

was the car stolen or wrecked? get them to hire an independent PAVE appraiser (it is your right for them to pay for this). Never heard of asking for bill of sale.

haivle

the car was a total lost, and yes i will call them and tell them i cant find the bill of sale. the best i can do is get a receipt from mto proving that i paid the tax for the car. thanks for all the input guys ill keep you posted on whats happening. btw they agreed to pay out 58600$ on my 2006 bmw m5 with 74000km on it

MidnightCayman

I would take that and run. I think market value for a similar car with that mileage is around $40k

aj986s

FWIW, at least here in the US, insurance asking for a bill of sale is weird. They typically will rely of published market values, like NADA or Kelly Blue Book or such, for the worth of the car. Is it possible your car had mods/enhancements that you claim increase the car's value? I had that situation years ago with a totalled 944S2, and the insurance wanted to look at receipts for mods & work that had recently been done to the car. In my case, it boosted the settlement significantly.

Nine11

Agreed.

Me&You

Plus a billion!

You literally just hit the jackpot. Take it before they realize they're screwing up.

haivle

no i got into an accident in 2010 and went to court to fight a charge thats why. soo they have to give me market value for the car in 2010