IBC launches VIN Verify Service to identify flood-damaged vehicles
TORONTO – 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.
“Canadians should be cautious when a deal seems too good to be true and should report any suspicious vehicles to IBC through our tips reporting program at 1-877-IBC-TIPS or through the web at www.ibc.ca,” adds Dubin.
When considering a private purchase of a used vehicle, you should consider doing a search of the vehicle through IBC’s VIN verify service, as well as ordering a full vehicle history search. Also have the vehicle fully inspected by a known mechanic to ensure that it is not a flood related, or even a stolen vehicle.
The 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.
Thinking of buying a car? Use IBC’s VIN Verify Service to search if the vehicle has been branded as non-repairable due to flood damage.
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