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Anyone purchased replacement policy other than Colwood?
Although Colwood is cheaper than Optiom, their review is pretty bad when it comes to claim...
This is the quote I got:
Optiom close to $2700
Colwood close to $2100
Drivesure a little over $2100
Drivesure provides similar coverage as Optiom but I cannot find any review about it...
Although Colwood is cheaper than Optiom, their review is pretty bad when it comes to claim...
This is the quote I got:
Optiom close to $2700
Colwood close to $2100
Drivesure a little over $2100
Drivesure provides similar coverage as Optiom but I cannot find any review about it...
Usually getting replacement cost added to your optional insurance will be less expensive overall than these 3rd party providers. I've found it to generally go for $300-500 per year as an add-on endorsement. It's available as part of your optional insurance through ICBC, or private providers: BCAA, Belairdirect/Intact/Westland, Family Insurance & Stratford Insurance.
Does anyone know what the "50" mean in "MODEL 3 STANDARD RANGE PLUS 50 4DR"? This is from BCAA's computer which lists the following Model 3 trims for 2021 (exact wording):
MODEL 3 75d 4DR AWD
MODEL 3 PERFORMANCE 75D 4DR AWD
MODEL 3 STANDARD RANGE PLUS 50 4DR
These names superficially appear to correspond to the 3 cars on Tesla's Model 3 design page, respectively:
Long Range
Performance
Standard Range Plus
One might assume that these refer to the same vehicles but my BCAA office emphasized that I have to make sure I select the right model or the coverage will be invalid, a fact also pointed out by the Insurance Act Warning on the quotation page.
Well I don't know what the "50" means in that wording and the BCAA staff also couldn't tell me whether they are the same car. He just advised that I have to get it right. I asked if I can just give him a VIN after I take delivery, and he said no. This is worrisome because I don't know a fool-proof way to verify that the model will be valid. I emailed BCAA and they just told me to check the model with Tesla, which does not inspire much confidence. Any advice?
MODEL 3 75d 4DR AWD
MODEL 3 PERFORMANCE 75D 4DR AWD
MODEL 3 STANDARD RANGE PLUS 50 4DR
These names superficially appear to correspond to the 3 cars on Tesla's Model 3 design page, respectively:
Long Range
Performance
Standard Range Plus
One might assume that these refer to the same vehicles but my BCAA office emphasized that I have to make sure I select the right model or the coverage will be invalid, a fact also pointed out by the Insurance Act Warning on the quotation page.
Well I don't know what the "50" means in that wording and the BCAA staff also couldn't tell me whether they are the same car. He just advised that I have to get it right. I asked if I can just give him a VIN after I take delivery, and he said no. This is worrisome because I don't know a fool-proof way to verify that the model will be valid. I emailed BCAA and they just told me to check the model with Tesla, which does not inspire much confidence. Any advice?
Thanks. It's ambiguous for BCAA to write "50" without units. I ordered a SR+ (don't have it yet). I didn't know the battery rating because it was not obvious on Tesla's page.
I am curious, how would I be able to show/prove that the battery is indeed 50 kwh?
I thought the choice was obvious too (3 trims), but the BCAA rep talked about the risk of getting the wrong coverage, even after we checked the ICBC database together (same model name). He cautioned that the model I receive could have a different listing, in theory. I don't think that's likely, but the warning is enough to make me think twice; with ICBC I wouldn't have this problem, since an agent at the dealer would be the one entering the model information. I can double check with Tesla and ask for their opinion.
For some reason Wikipedia lists the Standard Range Plus as "54 kWh":
Tesla Model 3 - Wikipedia
The reference for that is a 3rd party webpage so it might be wrong: 2019 Tesla Model 3 Standard Range Plus RWD - Specifications and price
Has any Model 3 Stand Range Plus owner here made a claim with BCAA?
For some reason Wikipedia lists the Standard Range Plus as "54 kWh":
Tesla Model 3 - Wikipedia
The reference for that is a 3rd party webpage so it might be wrong: 2019 Tesla Model 3 Standard Range Plus RWD - Specifications and price
Has any Model 3 Stand Range Plus owner here made a claim with BCAA?
For the LR battery pack 75kW, it's technically 78.8kW. 2021's might have slightly more battery since Panasonic improvised the energy density by 5%. But like everything Tesla, who knows when or if it's already being rolled into production.
Regarding insurance, my opinion is I don't think they actually care what the battery size is. It comes down to the price of the trims and especially important with replacement cost insurance. Doesn't hurt to get something from Tesla in writing if you can. The person I've been dealing with at BCAA has been very good and knowledgeable. PM me if you want the contact.
since I don’t believe Tesla has ever officially said their battery size is 50kwh, and since ICBC forces you to choose from one on that list, that is not a basis they can use to deny you coverage. Parts of ICBC description that are accurate and impossible to misinterpret are “standard range plus” (easily confirmed) and “4dr” (duh). Any court seeing those two above matching would not screw you over because dimensionless “50” was in the description but your battery is reported somewhere else as having 53.894kwh or whatever. This is a non issue.
BCAA replied that that their listed trims would be the same as ICBC's, which should allow for verification.
I just insured everything with ICBC including comprehensive and collision it was $1900. Not bad.
I asked the broker about coverage of the FSD software as I have heard horror stories about replacing cars with that. We are now applying for “special own risk policy“ coverage with ICBC in order to get also the FSD package covered Has anyone got experience with this policy?
www.icbc.com
I asked the broker about coverage of the FSD software as I have heard horror stories about replacing cars with that. We are now applying for “special own risk policy“ coverage with ICBC in order to get also the FSD package covered Has anyone got experience with this policy?
Specialized coverage
Sometimes your vehicle needs a different level of protection. We have specialized products to cover less common situations.
Would you mind sharing some of the coverage details of your new policy?I just insured everything with ICBC including comprehensive and collision it was $1900. Not bad.
I asked the broker about coverage of the FSD software as I have heard horror stories about replacing cars with that. We are now applying for “special own risk policy“ coverage with ICBC in order to get also the FSD package covered Has anyone got experience with this policy?
Specialized coverage
Sometimes your vehicle needs a different level of protection. We have specialized products to cover less common situations.
I am looking to get insurance for my new M3
Our icbc premium came to about 1400 (van isl). 2 mil liability, 500 colll, 300 comp.
We didn't take the replacement warranty. It is very expensive for what it is and I suspect they make a nice profit of it. Our collision premium is about 550$. That covers the depreciated value of the car. Let's say that's 45000 in 1 year. The replacement warranty covers the next 7000$ and costs about 450$ per year, prepaid for 2 to 5 years?? In terms of value insured, it's pretty expensive.
They are working on your emotions. This is just like dealers selling you paint protection and undercoating....
We didn't take the replacement warranty. It is very expensive for what it is and I suspect they make a nice profit of it. Our collision premium is about 550$. That covers the depreciated value of the car. Let's say that's 45000 in 1 year. The replacement warranty covers the next 7000$ and costs about 450$ per year, prepaid for 2 to 5 years?? In terms of value insured, it's pretty expensive.
They are working on your emotions. This is just like dealers selling you paint protection and undercoating....
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Considering getting a M3 SR+ but I've only gotten my license for 4 years (M 25+ with no violations/claims) and since I recently moved here from out-of-province I got a 3 year "penalty" with ICBC (+15% year 1, +10% year 2, +5% year 3, and year 4 back to normal). I called BCAA to get a quote and it was pretty ludicrous:
Full ICBC: almost $5k - didn't even bother asking for details once I heard that - $1m liab, collision ($1k deductible), comprehensive ($300 deductible), was told I'm getting murdered by collision portion because it was $3k.
BCAA optionals: they also gave me a quote of optionals they can offer - $2k collision ($1k deductible), $500 comprehensive, $200 extended liab ($800k top-up of basic to $1m), $700 replacement cost plus, then small items plus discounts, total to about $3k just optionals. I should have gotten the breakdown of the ICBC basics, but it'll probably add up close to $5k again, but this also has the $700 replacement cost plus.
I moved to BC from the prairies and my insurance jumped over 50% with my current car. It seems I'm better holding off a few years, but then I'm guessing the $3k BC and $5k federal rebates will be gone by then. I haven't asked other companies yet but I'd imagine it'll be similar.
Anyone with similar years of driving share how much they're paying?
Full ICBC: almost $5k - didn't even bother asking for details once I heard that - $1m liab, collision ($1k deductible), comprehensive ($300 deductible), was told I'm getting murdered by collision portion because it was $3k.
BCAA optionals: they also gave me a quote of optionals they can offer - $2k collision ($1k deductible), $500 comprehensive, $200 extended liab ($800k top-up of basic to $1m), $700 replacement cost plus, then small items plus discounts, total to about $3k just optionals. I should have gotten the breakdown of the ICBC basics, but it'll probably add up close to $5k again, but this also has the $700 replacement cost plus.
I moved to BC from the prairies and my insurance jumped over 50% with my current car. It seems I'm better holding off a few years, but then I'm guessing the $3k BC and $5k federal rebates will be gone by then. I haven't asked other companies yet but I'd imagine it'll be similar.
Anyone with similar years of driving share how much they're paying?
![angus[Y]oung](/tmc/data/avatars/l/141/141264.jpg?1620160343){kind=avatar}
angus[Y]oung
Active Member
@nexxco ouch. one small thought: for the optional replacement value coverage, have a look at 3rd party offerings. The way it works with ICBC is you can buy it for up to 3 years, and each year gets more and more expensive (since the delta between your car's depreciated value and replacement cost grows from year to year). In the end, it's likely to cost you well in excess of 3 x $700 (because each year will go up) and only give you 3 years of coverage.
There are some 3rd party options that allow you to buy up to 5 years. The downside is you have to pay it up front but the upside is you can get those extra 2 years and you don't have the recurring and increasing premium costs on the 2nd and 3rd years.
Your mileage may vary but we got ours for somewhere between $2500-2600 for 5 years on our LR MY (which also has a higher MSRP than the SR+ M3 you're planning) which is a far better value IMHO if you can afford the up-front. We bought ours directly from the insurance agent at the Tesla delivery center (we picked up in Surrey/Langley location), but I think you could buy from an independent dealer within the first few days (double-check that) if you find an offer you like better--just decline the replacement cost coverage during your delivery and buy it separately from your selected agent.
There are some 3rd party options that allow you to buy up to 5 years. The downside is you have to pay it up front but the upside is you can get those extra 2 years and you don't have the recurring and increasing premium costs on the 2nd and 3rd years.
Your mileage may vary but we got ours for somewhere between $2500-2600 for 5 years on our LR MY (which also has a higher MSRP than the SR+ M3 you're planning) which is a far better value IMHO if you can afford the up-front. We bought ours directly from the insurance agent at the Tesla delivery center (we picked up in Surrey/Langley location), but I think you could buy from an independent dealer within the first few days (double-check that) if you find an offer you like better--just decline the replacement cost coverage during your delivery and buy it separately from your selected agent.
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