ICBC Enhanced Care System (Current Model) (12:III): Difference between revisions
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ICBC Enhanced Care System (Current Model) (12:III) (view source)
Revision as of 17:16, 6 August 2024
, 6 August→C. Basic Vehicle Damage Coverage
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==C. Basic Vehicle Damage Coverage== | ==C. Basic Vehicle Damage Coverage== | ||
Basic vehicle damage coverage is also a part of ICBC’s mandatory basic coverage (''IVA'', s 173), and provides indemnification for certain vehicle repairs and other losses resulting from vehicle damage that occur | Basic vehicle damage coverage is also a part of ICBC’s mandatory basic coverage (''IVA'', s 173), and provides indemnification for certain vehicle repairs and other losses resulting from vehicle damage that occur because of an accident in British Columbia involving, “at least two vehicles” (''IVA'', s 174(2)), in specified circumstances. | ||
When indemnification is provided for basic vehicle damage, “[t]he total value of indemnification…must be reduced by the extent to which, expressed as a percentage, (a) the owner and the operator of the insured's eligible vehicle and a person in a prescribed class of persons is responsible for the accident, and (b) another person whose name is not ascertainable is responsible for the accident” (''IVA'', ss 174(4) and 175(4)). This means that the insured is only indemnified in accordance with the percentage amount for which they are found to be not responsible for the accident (i.e. if an insured fully responsible for the crash, they are not indemnified under this coverage). If there is another unknown person who is not responsible for the accident, indemnification is also reduced accordingly. | When indemnification is provided for basic vehicle damage, “[t]he total value of indemnification…must be reduced by the extent to which, expressed as a percentage, (a) the owner and the operator of the insured's eligible vehicle and a person in a prescribed class of persons is responsible for the accident, and (b) another person whose name is not ascertainable is responsible for the accident” (''IVA'', ss 174(4) and 175(4)). This means that the insured is only indemnified in accordance with the percentage amount for which they are found to be not responsible for the accident (i.e. if an insured fully responsible for the crash, they are not indemnified under this coverage). If there is another unknown person who is not responsible for the accident, indemnification is also reduced accordingly. | ||