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03-25-2012, 04:05 PM
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#1 | | MiX iT Up!
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| ICBC and stolen car - few questions
dad just had his car stolen and have a few questions as per the thread here http://www.revscene.net/forums/66530...e-324-dvg.html
1) If the car is not found, will ICBC give some sort of reimbursement?
2) If the car is found but trashed/damaged, who pays for the clean up/fixing up?
3) Do auto wrecks run the VIN/generic data (color, body type) through a "stolen car" database before it's stripped for parts? etc..
Thanks guys.
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Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | 
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03-25-2012, 04:18 PM
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#2 | | Glorious Gaming PC Master Race
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-there is a certain amount of time that must pass before they consider it really gone.
-if its found and trashed, but not deemed a write off, they will fix and pay for restoration.
-all wreckers are supposed to check VIN's
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03-25-2012, 04:33 PM
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#3 | | Need my Daily Fix of RS
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| Quote:
Originally Posted by Turbo E  -there is a certain amount of time that must pass before they consider it really gone.
-if its found and trashed, but not deemed a write off, they will fix and pay for restoration.
-all wreckers are supposed to check VIN's | As long as the vehicle in question has theft insurance.
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03-25-2012, 05:43 PM
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#4 | | Banned By Establishment
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depends on your coverage
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03-26-2012, 12:22 AM
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#5 | | VAC Head Rotang Mod
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not all wreckers check. one of the guys on bcrotary had his car stolen from his driveway with a flatdeck and found it in a junkyard as a cube.
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03-26-2012, 03:45 AM
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#6 | | I *heart* Revscene.net very Muchie
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1. if vehicle was not found after 30 days, ICBC writes off the stolen vehicle and pays out the owner the market value or what ever they think its worth.
2. If vehicle is found and was thrashed, owner pays for comprehensive deductible. If owner has Roadside+, dedutible gets waived off and ICBC repairs it for free of charge.
3. Not sure about that...
For #1 and #2 as long as they have Comprehensive coverage then they don't have to worry.. If not then they are out of luck.
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03-26-2012, 04:06 AM
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#7 | | Even when im right, revscene.net is still right!
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| Quote:
Originally Posted by evil_jigglypuff 1. if vehicle was not found after 30 days, ICBC writes off the stolen vehicle and pays out the owner the market value or what ever they think its worth.
2. If vehicle is found and was thrashed, owner pays for comprehensive deductible. If owner has Roadside+, dedutible gets waived off and ICBC repairs it for free of charge.
3. Not sure about that...
For #1 and #2 as long as they have Comprehensive coverage then they don't have to worry.. If not then they are out of luck. |  | |
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03-26-2012, 06:47 AM
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#8 | | Old School RS
Join Date: May 2004 Location: Port Moody
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Originally Posted by MWR34 | This is ICBC we are talking about... more like: 
Mark
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I'm old now - boring street cars and sweet race cars. | |
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03-26-2012, 07:31 AM
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#9 | | Banned By Establishment
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Originally Posted by Raid3n not all wreckers check. one of the guys on bcrotary had his car stolen from his driveway with a flatdeck and found it in a junkyard as a cube. | The junkyard turned an RX7 into a nissan?  | |
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03-26-2012, 08:01 AM
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#10 | | MiX iT Up!
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Lets assume that ICBC pays $1000(lets say) after 30 days and the owner has purchased a replacement car within that time period. What IF the car is found on the 40th day? What happens? The stolen car would be in much better mechanical condition than the replacement guaranteed. Does the owner get to choose to which car to keep?
__________________
Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | |
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03-26-2012, 10:10 AM
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#11 | | I *heart* Revscene.net very Muchie
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Just like any total loss claim from an accident, once you are paid out any property belongs to ICBC. ICBC will then resell the car or send it to salvage. I don't think the original owner has the option to buy back the salvage/wreck like with a total loss due to accident but I'm not sure.
As many ICBC cheapass penny pinching cases as there are, to be fair to ICBC, there have been many occassions of ICBC paying out more than what the owner originally paid for the vehicle. So payouts on market valuation can really go both ways.
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03-26-2012, 05:20 PM
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#12 | | Need my Daily Fix of RS
Join Date: Jun 2002 Location: Abbotsford
Posts: 280
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| Quote:
Originally Posted by evil_jigglypuff 1. if vehicle was not found after 30 days, ICBC writes off the stolen vehicle and pays out the owner the market value or what ever they think its worth.
2. If vehicle is found and was thrashed, owner pays for comprehensive deductible. If owner has Roadside+, dedutible gets waived off and ICBC repairs it for free of charge.
3. Not sure about that...
For #1 and #2 as long as they have Comprehensive coverage then they don't have to worry.. If not then they are out of luck. | Like I posted above, you need theft insurance which at the minimum is covered under specified perils.
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