REVscene - Vancouver Automotive Forum

RuffleCopterz · 08-08-2012, 04:36 PM

Do any of you have insurance with this company? Anyone have experience with their new vehicle replacement policy? How long does their claim usually take?

Recommendations on other insurance places?

Thanks

j_ryan604 · 08-08-2012, 08:02 PM

I have this insurance. I had an accident where my car was written off 2 years ago and they pay whatever you have left owing on the car after all the icbc crap. From what I was told, it only covers new vehicles for 5 years. I didn't even know about this insurance until I got in the accident haha.

Truenosan · 08-08-2012, 09:35 PM

They are usually quick. I've dealt with them for their OEM replacement policy and deductible coverage. The customer pays upfront first, but from what my customers have told me, they were reimbursed within weeks.

Kalize · 08-08-2012, 09:50 PM

Yup
Let me know if your interested, I can get u a price.

go.mouse · 08-08-2012, 10:52 PM

URS policy is great.

It also covers up to $250 deductible for each claim. This means free chipped/damaged windshield replacement if you have comprehensive coverage and the URS policy.

VR6GTI · 08-09-2012, 06:40 AM

I would never buy that policy

shantz · 08-09-2012, 08:56 AM

On the industry side (I work for a body shop and routinely fix cars with this policy) it is pretty easy to deal with, and ensures that you're covered for OEM parts - though it does not cover radiatior / a/c condensor or interior components.

I'd buy it.

What_the? · 08-09-2012, 12:51 PM

I bought it for my last car. Totalled it after 11 months of ownership. The whole process was quick and easy. Paid $24000 for the car when I bought it, ICBC paid me $19,000 and they paid me another $8000. So total $27,000 which i'm assuming is to account for me buying a newer model which will be a little more expensive.

I'd buy it again, and I did buy it again for my new car.

Also, transferring the 4 years left on my coverage to the new car, they gave me a pro-rated discount of almost $800 bucks to go towards the new plan when I only paid about $1100 in the first place for it.

Overall well worth it, including the deductible coverage etc

RuffleCopterz · 08-09-2012, 04:10 PM

Quote:

Originally Posted by What_the?

I bought it for my last car. Totalled it after 11 months of ownership. The whole process was quick and easy. Paid $24000 for the car when I bought it, ICBC paid me $19,000 and they paid me another $8000. So total $27,000 which i'm assuming is to account for me buying a newer model which will be a little more expensive.

I'd buy it again, and I did buy it again for my new car.

Also, transferring the 4 years left on my coverage to the new car, they gave me a pro-rated discount of almost $800 bucks to go towards the new plan when I only paid about $1100 in the first place for it.

Overall well worth it, including the deductible coverage etc

How long did it take them to send you the payout amount? It's been 2 days for me and still waiting =s

Domani · 08-10-2012, 08:13 AM

I have them, upped my deductible to $500 w/ ICBC to lower the cost since my URS policy covers $250 for deductible . Had a wind shield claim, got my cheque in 3 weeks.

Expresso · 08-10-2012, 09:32 AM

Quote:

Originally Posted by Domani

I have them, upped my deductible to $500 w/ ICBC to lower the cost since my URS policy covers $250 for deductible . Had a wind shield claim, got my cheque in 3 weeks.

Or you could try Coast Capital for Optional Insurance which is covered by Northern Shield. They can get you deductibles as low as $200/$100 and I believe no deductible for glass work (not 100% sure). It only cost me another $30-50 to bring it down from $300/$300

Domani · 08-11-2012, 09:51 AM

will look into it once my URS is up.

eddoe · 10-28-2013, 04:24 PM

Bumping this thread up as I was offered this new car replacement insurance on my new car vs. the ICBC optional replacement coverage. Anyone else deal with them?

Similar to what was offered above but I they would pay up to $300 for any deductible that I pay. I was quoted $1,500 for this for 5 years to insure a BMW, anyone have advise or thoughts? Is it worth it? Or would CC & CD be cheaper for something similar?

dL · 10-31-2013, 11:38 AM

I would like to bump this thread as well and hear more feedbacks.

It sounds a bit too good to be true...

dL

1990TSI · 10-31-2013, 12:26 PM

I got it when I bought my new car. seemed like a pretty good deal, and waaaaay cheaper than icbc replacement coverage once you get into the 3+ year old mark.

and I think they let you add it into the financing of the vehicle, so it could be like $5/month if you go that route.

thumper · 10-31-2013, 12:59 PM

Quote:

Originally Posted by 1990TSI

I got it when I bought my new car. seemed like a pretty good deal, and waaaaay cheaper than icbc replacement coverage once you get into the 3+ year old mark.

and I think they let you add it into the financing of the vehicle, so it could be like $5/month if you go that route.

^ same as above.

i haven't had to replace a vehicle under this policy, but the bodyshop i went to awhile back for cosmetic work said they have dealt with ultima before and they had no issues with them ie. payment was made in a timely manner.

Kalize · 10-31-2013, 07:02 PM

I sell quite a few a month; very good to deal with.

Lancerion · 11-01-2013, 09:30 AM

I got this with my 2010 brand new Lancer back then, it was $944 for 5 years.

Had a break-in earlier this year, paid icbc's $300 deductible first. Then body shop helped with the whole claim process, got the $250 around 2-3 weeks after vehicle was fixed.

Totally worth it imo.

radioman · 11-01-2013, 09:45 AM

Have always had this on my new vehicles.

Covered for 5 years paid up in 3. I believe it's $30ish a month.
$250 back on ICBC claims and they have an OEM part protection plan.
Lump sum if vehicle is total loss etc. etc.

Never had any issues. Took about 2 weeks to get my $250 in the mail (they don't Direct deposit).

CumDumpster · 11-01-2013, 10:20 AM

+1 for ultima risk. i just got in an accident last month my car was written off it was a 2008 civic si. i still owed 16,800 on my vehicle icbc gave me 14,500 for my car. ultima risk will pay the remainder of the amount owing which would be 2300. the cool thing is the longer you own the car, the more money you get back. i believe its 5% for every year you own the vehicle. at the end of it i come out with 4 grand in my pocket.

the only catch is to get the money you have to purchase a vehicle that is the same value or more than the vehicle you had written off. in my case i had to spend just over 19 grand, so i got a Scion frs lol

CumDumpster · 11-01-2013, 10:24 AM

im actually heading to a insurance place to get it for my Scion rite now. for $1200 to know your car is covered for 7 years you cant go wrong, when i mean covered they cover up to the purchase price of the vehicle, and as i said the longer you own it the better.

katie_1992 · 01-21-2014, 07:15 AM

I just finished (almost) dealing with them and had the process from hell.

My brand new mazda2 was totaled when someone ran a red light well i was turning left. Left me 21 years old with back and knee problems probably the rest of my life and a war with ICBC. There was a big thing with ICBC about my insurance and not changing after my current job change so took 2 months before I was able to get the $ for my car. My life was flipped upside down in a millisecond but I was looking forward to dealing with the "good guys" at ultima.

From the get go they were rude to me then once it came to my payout every word they told me has been a lie. Told me they mailed my cheque to pay off my loan on January 3rd and should get there soon. Its now the 21st and my bank has not seen this cheque. So my car dealership called to see whats going on and they tell her they sent it on the 13th then when i emailed to find out whats going on the manger pretty much calls me a liar and promises it was the 3rd.

I live a 45 minute drive to work and having to bus that with my injuries is making getting to work almost impossible. Iv already bought a new car but I cant take it off the lot till my current loan is paid off. I work at a car dealership so its not to bad, my coworkers have been heaven sent through out this whole thing but Ultima just causing more problems. They told me two weeks tops, its not onto the 3rd week and nothing but lies from them. Im at the point where I no longer even want my new car, they took all my excitement out it and made this experience hell.

I will NEVER deal with this company again.. Adding more stress then its needed.