|Optional Autoplan insurance is additional coverage that
you can choose to buy if you wish. The most common Optional
Autoplan coverages are Extended
Third-Party Legal Liability, Collision,
Third-Party Legal Liability
|Many motorists increase their Basic Autoplan Third-Party
Legal Liability coverage to $1 million or more because if you
are found at fault for a serious crash causing injury or damage,
the courts can order you to pay damages well above $200,000.
You can increase your coverage from the Basic Autoplan $200,000
limit to amounts ranging from $300,000 to $15 million.
This is known as Extended Third-Party Legal Liability
coverage. If you choose not to purchase additional liability
coverage above the $200,000 provided in Basic Autoplan and you
are found legally liable for a claim, you will be responsible
for paying the portion of the claim exceeding $200,000, as well
as interest and legal costs assessed against that portion. If
you have a crash that causes both property damage and bodily
injury or death, claims for bodily injury or death have priority
on the first 90 per cent of your liability coverage. Claims
for property damage have priority on the 10 per cent balance.
This also applies to Extended Third-Party Legal Liability coverage.
Third-Party Legal Liability coverage
does not apply in the following situations:
- Loss or damage to property (yours or anyone else's)
carried in your vehicle.
- Loss or damage to property you own or rent (for example, your
- Assessments, penalties or premiums payable under the Workers
- Towing an unlicensed trailer that is required to be licensed.
- Operation of attached equipment at a work site (for example,
a crane attached to a truck).
|Collision insurance pays to repair or replace
your vehicle. If it is damaged as a result of upset or a collision
with another vehicle, a person, or an object, including the
ground or highway, or impact with an object on or in the ground.
|Comprehensive insurance covers loss or damage to your
vehicle by any cause except loss or damage covered by Collision
insurance. Comprehensive includes coverage for loss or
damage caused by: fire, lightning, theft (except by an employee
or member of your household), vandalism, malicious mischief,
windstorm, earthquake, hail, impact with animals, missiles,
falling or flying objects, riot, civil commotion, rising water
or the stranding, sinking, burning, derailment, or collision
of a conveyance transporting the vehicle on land or water.
|This form of insurance provides specific coverage only
against fire, lightning, theft (except by an employee or member
of your household), windstorm, earthquake, hail, explosion,
riot, civil commotion, falling or forced landing of an aircraft
or portion of it, rising water or the stranding, sinking, burning,
derailment, or collision of a conveyance transporting the vehicle
on land or water. Losses that are not covered include
vandalism, malicious mischief, damage to windshields, or impact
with animals. All coverages provided by Specified
Perils are also included under Comprehensive coverge. Customers
wishing this type of protection should choose one or the other,
Motor Vehicle Agreed Value Policy
| If your vehicle is an ICBC-approved collector vehicle
and is currently covered by either Collision, Comprehensive
or Specified Perils, you may qualify for a Collector Motor Vehicle
Agreed Value Policy. The policy guarantees a value for your
vehicle at the time of a total loss. It also waives the deductible,
regardless of who is at fault. Your car may only be driven by
drivers who have held a valid driver's licence for ten or more
years, and it must be kept in a fully enclosed and locked garage
that cannot be used for the parking or storing of a vehicle
by anyone other than the insured and members of the insured's
You will need to submit an application form and fee($50
for vehicles valued at $40,000 or less; $75 for vehicles valued
at over $40,000), as well as photos and documentation that support
your desired value. If your vehicle is valued at more than $40,000
you will need to take it to an ICBC® Claims Centre for a
visual inspection. No further appraisals are required. Once
you and ICBC® have agreed on a value for your vehicle, this
value forms the basis of the cost of the policy.
in Storage Policy
|If you are not using your vehicle or intend to put it
in storage, you can purchase Vehicle in Storage coverage. Collision,
Comprehensive, Specified Perils, Basic and Extended Third-Party
Legal Liability insurance are all available on this policy.
|You can purchase Limited Depreciation Coverge if your
vehicle is not more than three model years old, even if you
are not the first owner of the vehicle. This coverage increases
the amount payable to you under your Autoplan Collision, Comprehensive
or Specified Perils insurance so that depreciation is not taken
into account in the settlement of your claim for damage to your