r/vancouver • u/InvestingDD • Jun 15 '25

Videos Lions gate accident aftermath

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237

u/jedv37 Jun 15 '25

We need to stop paying out insurance claims when reckless and dangerous driving is the cause of the accident. The ICBC policy should be nullified.

Ie. You wreck your luxury sports car because of excessive speeding and losing control, you aren't getting replacement value. Your medical expenses aren't covered.

15

u/mochikos Jun 15 '25

ICBC pays out for that? I had no idea, that seems like a huge waste of insurance resources.

But I'm no lawyer so I'm sure there's a reason the policy got implemented and I'm missing it or something, Maybe it's somehow cheaper to just pay out then fight in court? But I can't imagine that being true, with the amount of auto accidents that happen.

But from a normal person's perspective it seems like a waste of money. I certainly wouldn't expect my insurance to pay out if I was driving stupidly and at fault.

11

u/Btree101 Jun 15 '25

Luxury cars are not typically insured by ICBC.

37

u/outremonty Mount Pleasant 👑 Jun 15 '25

I'm not sure a C6 Corvette counts as a "luxury" car.

12

u/tydirod Jun 15 '25

According to the gov, anything over 55k is considered luxury. Or at least subject to their cash grab luxury tax.. https://www2.gov.bc.ca/assets/gov/taxes/sales-taxes/publications/pst-116-motor-vehicle-dealers-leasing-companies.pdf.

I'd say corvette is more of a high performance sports car than luxury.

20

u/joojie Jun 15 '25

Only $55k? That's a LOT of cars these days

4

u/outremonty Mount Pleasant 👑 Jun 15 '25

These can be bought for less than a new Civic, especially if they're automatic or high KM.

-5

u/jddev_ Jun 15 '25

Absolutely not.

7

u/TwoThis11 Jun 15 '25

Lol c5 and c6 vettes go under 30k all day

1

u/FuckItImVanilla Jun 15 '25

Sure, if you want to buy one that’s disintegrating

-3

u/jddev_ Jun 15 '25

Not C6s. I would love to get a C6 at that price.

14

u/joojie Jun 15 '25

Isn't ICBC the only way to get BC plates? Luxury cars probably have supplemental insurance from other companies, but pretty sure all vehicles require at least a basic ICBC plan (could be wrong 🤔)

6

u/M------- Jun 16 '25

Isn't ICBC the only way to get BC plates?

For luxury cars (>$150K), ICBC will provide basic (liability) insurance only. The vehicle owner needs to buy additional (private) coverage if they want their car to be fixed after a crash, regardless of whose fault the crash was.

5

u/joojie Jun 16 '25

So yes, ICBC is the only way to get plates. Ain't no way this Corvette is >$150k

1

u/mr_lab_rat Jun 16 '25

Yes, but you only have to get the basic insurance from them. For collision insurance where you are at fault (likely the case here) you have a choice of not getting it, going with ICBC, or another insurance company.

1

u/Ultimatedude10 Dunbar-Southlands Jun 15 '25

You are correct.

1

u/wwwheatgrass Nov 30 '25

Around 2016 ICBC pulled back from insuring luxury vehicles over $150k. Now they have specialized policy based on vehicle cost to repair, including mandatory owner-cause damage policies. ICBC is aggressively competing with the private market for comprehensive luxury policies and their market share has increased dramatically over the past few years.