ICBC Discounts & Special Coverages
Learn more about recommended special coverages and discounts available to you from ICBC.
Discounts
Low kilometre & distanced based discounts
Drive less than 10,000 km in a year? You may be eligible for a new discount. If you have a vehicle that may qualify for this discount, you need to provide your vehicle’s odometer reading at the time of your renewal or new policy purchase. If you were unable to provide the reading when you purchased or renewed your policy, you can submit online at icbc.com or through your Acera Insurance Advisor any time in your policy term. However, to be eligible for the new discount, proof of your odometer reading must be dated no earlier than seven days before the date you renewed or purchased your current policy and no later than seven days after that same date.
Submit your odometer reading directly to ICBC
or
Talk to an Acera Insurance Advisor
Is your declared value correct?
The market value of many vehicle types continues to increase due to ongoing global supply chain issues. In some cases, values have increased significantly.
If you have a vehicle rated by declared value, It’s important to review the value periodically. The declared value of the vehicle should reflect the actual cash value in the current market, inclusive of all permanently attached equipment and applicable taxes.
An accurate declared value will ensure that the you receive the full value of your vehicle in the event of a total loss, and will avoid a co-insurance penalty in partial loss situations.
Contact us if you need to make an adjustment to the declared value on your ICBC policy.
Special Coverages
Income Top-Up
ICBC’s Income Top-Up is optional coverage that provides additional income replacement support to top up the wage loss benefits provided from Enhanced Care. Any British Columbian who earns above $109,000 gross income and doesn’t have any other income replacement coverage (such as through their employer) can buy additional optional coverage to top up the income replacement benefit they are eligible to receive under Enhanced Accident Benefits.
Income Top-Up can be purchased in coverage tiers of $10,000, up to a maximum of $119,000. Each tier increases the maximum gross yearly income used to calculate your income replacement benefits. Talk to a broker to find out more about your income top-up options.
Click here to talk to an Acera Insurance Advisor about adding Income Top-Up coverage to your auto insurance policy.
Roadstar & Roadside Plus
RoadStar and Roadside Plus packages combine some of our most popular optional products at a great price. They give you valuable coverage at home and while you’re travelling.
Click here to talk to an Acera Insurance Advisor about adding Roadstar or Roadside Plus to your insurance policy.
Loss of Use
Can you afford to be without your car? Loss of Use coverage will help you stay mobile if you can’t use your vehicle after a theft or claim.
While your vehicle’s being fixed, Loss of Use covers your expenses to rent a vehicle, use taxis and take public transit.
Loss of Use coverage applies from the time of your claim until
- your vehicle is repaired
- you’re offered a total loss settlement, or
- you reach the limit of your coverage—whichever happens first
To qualify for Loss of Use coverage, you need to also have Collision, Comprehensive or Specified Perils coverage. You can also get Loss of Use coverage as part of the RoadStar or Roadside Plus packages, along with other popular coverages.
Click here to talk to an Acera Insurance Advisor about adding Loss of Use coverage to your auto insurance policy.
New Vehicle Replacement+
New Vehicle Replacement Plus is all about giving you choice and peace of mind, even if you were at fault for the crash.
After a crash
If your vehicle can be repaired, ICBC will fix it with unlimited new parts from the original manufacturer, if available.
If your vehicle is not repairable:
- You’ll have the choice of:
- replacing it with a new model,
- replacing it with a different vehicle of equal value, or
- taking a cash payout.
- ICBC will protect you from depreciation and inflation, so your payout will cover the full cost of a new vehicle.
- ICBC will also reimburse your deductible.
Click here to talk to an Acera Insurance Advisor about adding New Vehicle Replacement+ to your auto insurance policy.
Coverage for Luxury vehicles
What is a high-value vehicle?
A high-value vehicle is a B.C. registered, private passenger luxury vehicle with a manufacturer’s suggested retail price of:
- over $150,000, with a model year that falls within seven years of the current year or
- over $400,000, with a model year that falls within 14 years of the current year.
It does not include commercial vehicles, motorcycles, trailers or recreational vehicles (RVs).
Please refer to the list of luxury vehicles to find out whether your luxury vehicle:
- is subject to mandatory Basic insurance premiums for high-value vehicles and/or
- requires an application to obtain ICBC own damage coverage through the Special Risk Own Damage Policy.
Applying for the Special Risk Own Damage Policy
If you require an application to obtain own damage coverage for your luxury vehicle, remember to submit your application for the Special Risk Own Damage policy at least five business days before you buy your insurance policy. Otherwise you could find yourself without own damage coverage until the application is processed.
Click here to talk to an Acera Insurance Advisor about coverage for Luxury Vehicles.