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BC Optional Insurance  for New Cars

Limited Depreciation

Even if you don't qualify for Replacement Cost Coverage, consider protecting your vehicle against declining value due to depreciation. If your vehicle is up to three model years old, you are eligible for this coverage, which offers:

  • A cash settlement that compensates you for depreciation if your vehicle is declared a write off after a crash.
  • Your choice of repair shop, with fully guaranteed repairs for as long as you own your vehicle, if it is repairable.

New Vehicle Replacement Plus

If you’ve just bought a new car, consider ICBC's New Vehicle Replacement Plus insurance.

It declares your new vehicle a write off when the assessed damage exceeds just 50% of market value. You have the choice of a cash payout or replacement with a brand-new vehicle, compensation for depreciation and inflation, and more.

Replacement Cost Coverage

This is great protection if your vehicle is three years old or newer. If your vehicle is written off, you can choose between a new version of your car or a cash payout. If repairs are done, you are guaranteed new parts from the manufacturer where available.