ICBC Enhanced Care System (Current Model) (12:III): Difference between revisions
From Clicklaw Wikibooks
ICBC Enhanced Care System (Current Model) (12:III) (view source)
Revision as of 17:16, 6 August 2024
, 6 August→D. Basic Third-Party Liability
| Line 142: | Line 142: | ||
==D. Basic Third-Party Liability== | ==D. Basic Third-Party Liability== | ||
The basic | The basic principle behind third party liability insurance is that it is meant to indemnify the insured for claims that may be brought against them by someone else. Under the no-fault system, care for injuries is provided directly by the insurer to the injured party, as outlined above. However, there are still certain instances where an insured party may find themselves facing a claim from another party in an accident, such as when the insured causes non-vehicle property damage, or is driving outside BC in a jurisdiction where the other party is entitled to sue. | ||
This third-party liability coverage, included as part of basic mandatory vehicle coverage, provides indemnity for this sort of property damage, as well as for injury or death that occurs in other jurisdictions in Canada or the United States, with certain specified exceptions (''IVR'', s 64). This indemnity for basic third-party liability is capped at $200,000 for most vehicles, with higher limits for buses, taxis, and limousines (''IVR'', Schedule 3, s 1(1.1)). | This third-party liability coverage, included as part of basic mandatory vehicle coverage, provides indemnity for this sort of property damage, as well as for injury or death that occurs in other jurisdictions in Canada or the United States, with certain specified exceptions (''IVR'', s 64). This indemnity for basic third-party liability is capped at $200,000 for most vehicles, with higher limits for buses, taxis, and limousines (''IVR'', Schedule 3, s 1(1.1)). | ||
