REVscene - Vancouver Automotive Forum

immorality · 08-26-2021, 01:44 PM

Have you read the insurance policy (the actually wording) that you purchased from BCAA? It should say in there, and if so then they have every right to do so.

bcrdukes · 08-26-2021, 03:15 PM

+1

You'll need to read the policy which you purchased from BCAA. The latest insurance policy posted on their website is for May 2021, so yours may differ. Just quickly reading it, they don't do cash settlements unless your car is irreplaceable or determined to be a total loss.

ICBC isn't so bad.

is350 · 08-26-2021, 05:47 PM

Quote:

Originally Posted by bcrdukes

+1

You'll need to read the policy which you purchased from BCAA. The latest insurance policy posted on their website is for May 2021, so yours may differ. Just quickly reading it, they don't do cash settlements unless your car is irreplaceable or determined to be a total loss.

ICBC isn't so bad.

which page was this on? I did not see it on the policy.

I also don't understand why BCAA has to be handling this claim in the first place. I'm not at fault so my ICBC basic coverage is covering for my own repair. I'm not required/ I don't need to use benefit from my collision and replacement cost coverage through BCAA.

VR6GTI · 08-26-2021, 05:56 PM

You had a collision, your collision policy is with bcaa. What does Icbc have todo with anything?
When did the accident happen and when did you renew with bcaa?

is350 · 08-26-2021, 06:11 PM

Quote:

Originally Posted by VR6GTI

You had a collision, your collision policy is with bcaa. What does Icbc have todo with anything?
When did the accident happen and when did you renew with bcaa?

what?

My ICBC basic insurance covers for my car's repair if I'm not fault which is in my case. I would only need to use my collision insurance to cover my car's repair if I was found at fault of an accident

Expresso · 08-27-2021, 01:36 PM

Why would they lie to you?

Could try calling ICBC and get their side of the explanation.

68style · 08-27-2021, 01:58 PM

If it’s the way he says it is, it should be out of his basic… it’s right in icbc’s new FAQ of their new policies… optional is only used when you’re at fault or partially at fault.

So I’m not sure why they’re sending him to BCAA.

Unless he hasn’t renewed his insurance yet and he’s still under the old system?

Edison_Chen · 08-27-2021, 05:21 PM

I believe as of May 1 everybody was converted over to Enhance Care.

iKayChow · 02-10-2022, 08:48 AM

Did not read original post but based on comments sounds like something I am currently dealing with. Any update on what you did and what happened?

Short story. Car got hit, icbc ruled not at fault, bcaa only writes off no cash settlement, don't want to get rid of car as only 45,000km and can't buy anything similar with the amount being offered

Eff-1 · 02-10-2022, 09:37 AM

Quote:

Originally Posted by iKayChow

Did not read original post but based on comments sounds like something I am currently dealing with. Any update on what you did and what happened?

Short story. Car got hit, icbc ruled not at fault, bcaa only writes off no cash settlement, don't want to get rid of car as only 45,000km and can't buy anything similar with the amount being offered

Answer found here:
https://www.revscene.net/forums/7173...ml#post9037728

Always important to know the pros and cons if switching from ICBC to a 3rd party policy.

All the policy documents are on BCAA's website.

Here you go, it says:

Quote:

The liability of the insurer for payment of indemnity for loss or damage to the vehicle is
limited to the amount by which
a) the cost of repairing or replacing the vehicle and its equipment or any part of it with
material of a similar kind or quality,
b) the declared value of the vehicle and its equipment, if appropriate, or
c) the actual cash value of the vehicle and its equipment, whichever is least, exceeds
the deductible amount set out in this contract.

Your best approach is to do everything in your power to convince BCAA that based on current market conditions, the cash value of your vehicle is higher than what they say it is. Show them comparable ads for sale. Maybe contact dealerships, go and take photos of cars for sale. Higher an 3rd party appraiser. Good luck.

Gerbs · 02-10-2022, 10:49 AM

What do you do if your car is an old JDM car with 1 to 2 listings on craigslist for like $40 - 60k but they value it at $25k because it's 20 years old lol?

bcrdukes · 02-10-2022, 11:22 AM

This is where it gets ugly; They may either deny you coverage or you find a third-party insurance vendor to some kind of agreed value policy. You'd really have to be a huge JDM lover and a risk taker, or just rich AF who can take on such risk. You guys need to remember that insurance companies are not charities or GoFundMe Campaigns.

Eff-1 · 02-10-2022, 11:33 AM

Quote:

Originally Posted by Gerbs

What do you do if your car is an old JDM car with 1 to 2 listings on craigslist for like $40 - 60k but they value it at $25k because it's 20 years old lol?

If you have a rare vehicle like that where insurance payout is a concern, then I'd suggest talking to your insurance broker and seeing if there is some kind of gap insurance policy based on a declared value that you can take out to cover the difference.

SpeedStars · 02-12-2022, 08:50 PM

They will contact used jdm car dealerships such as velocity/applewood and see if they recently sold a similar car or have something similar on the lot. But if you've got something like an r34 v-spec, you probably would want it appraised and insured for its market value through 3rd party insurance.

Edit: they used to base the price on JDM cars on the price you purchased it for. Since most cars back then were under $2k, they got totalled for fender benders. No longer seems to be the case though.