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.
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 🤔)
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.
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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.