Insurance in BC

[KWReid]

Thanks. I'll just get everything from ICBC first and shop around after I get the car then.

This was my plan as well on my delivery today. Note that I have the max safe driving discount, and I also am within 15KM to/from work. I did not get replacement coverage.

• ICBC Basic: $1919 /w 43% discount = $1094
• ICBC Optional - $2M 3rd party liability = $271
• ICBC Optional - Collision deductible $500 = $738
• ICBC Optional - Comprehensive deductible $300 = $202
• ICBC Optional - Roadside plus = $48

Total $2353

I took a look at BCAA for those optional coverage and it totals up to $1630 for me compared to the optional ICBC total above of $1259. Almost $400 more?

 

[Way O]

Anyone have a update on what basic ICBC coverage with max 43% discount is for a Model 3 RWD?
I won't say how much I'm paying but it's insane, really same as a Porche POS.

 

[WolfHero]

Anyone have a update on what basic ICBC coverage with max 43% discount is for a Model 3 RWD?
I won't say how much I'm paying but it's insane, really same as a Porche POS.

I just got my renewal notice from ICBC (basic coverage) and BCAA (optional)

This rate is based on to/from work more than 15KM each way.
ICBC
Basic 43% discount $1,245 (after $939 savings)
Vehicle license fee $61
Total: $1306
BCAA
Extended 3rd party liability (2,800,000 limit) $232.32
Collision coverage (300 deductible) $414.70
Comprehensive coverage (300 deductible) $259.77
Preferred driver package (travel protection, loss of use, rental vehicle coverage) $20.00
Replacement cost $134.89
One accident forgiveness $0.00
Anti thift discount -$12.99
Total:$1048.69
Total including membership cost($80/yr) and 10% discount: (1048.69*0.9)+80=$1023.82

Both together comes to $2329.82

 

[Rev-777]

I just got my renewal notice from ICBC (basic coverage) and BCAA (optional)

This rate is based on to/from work more than 15KM each way.
ICBC
Basic 43% discount $1,245 (after $939 savings)
Vehicle license fee $61
Total: $1306
BCAA
Extended 3rd party liability (2,800,000 limit) $232.32
Collision coverage (300 deductible) $414.70
Comprehensive coverage (300 deductible) $259.77
Preferred driver package (travel protection, loss of use, rental vehicle coverage) $20.00
Replacement cost $134.89
One accident forgiveness $0.00
Anti thift discount -$12.99
Total:$1048.69
Total including membership cost($80/yr) and 10% discount: (1048.69*0.9)+80=$1023.82

Both together comes to $2329.82

Lower mainland?

 

[Funkmobile]

I just got my renewal notice from ICBC (basic coverage) and BCAA (optional)

This rate is based on to/from work more than 15KM each way.
ICBC
Basic 43% discount $1,245 (after $939 savings)
Vehicle license fee $61
Total: $1306
BCAA
Extended 3rd party liability (2,800,000 limit) $232.32
Collision coverage (300 deductible) $414.70
Comprehensive coverage (300 deductible) $259.77
Preferred driver package (travel protection, loss of use, rental vehicle coverage) $20.00
Replacement cost $134.89
One accident forgiveness $0.00
Anti thift discount -$12.99
Total:$1048.69
Total including membership cost($80/yr) and 10% discount: (1048.69*0.9)+80=$1023.82

Both together comes to $2329.82

What does the BCAA replacement cost option cover? $134.89 for it seems absurdly low.

 

[Rev-777]

What does the BCAA replacement cost option cover? $134.89 for it seems absurdly low.

Replacement of the vehicle. Yes, BCAA has the best replacement insurance in BC.

 

[Funkmobile]

Replacement of the vehicle. Yes, BCAA has the best replacement insurance in BC.

Ah ok, I see BCAA's definition of total loss is different from ICBC's and hence the difference in cost/coverage.

 

[WolfHero]

Lower mainland?

Yes, west side of Vancouver near UBC.

What does the BCAA replacement cost option cover? $134.89 for it seems absurdly low.

BCAA has basic Replacement Cost and Replacement Cost Plus. They would not let me insure on the Plus option. The difference is at what point it considers a total loss (50% for the first 3 years vs 90%). If it is considered a total loss, insurance will pay for a new car of the same/equivalent model at that year. For example, since I have 2018 Model 3 LR AWD, and if my car is total loss in 2023, BCAA will pay for a brand new 2023 Model 3 LR AWD.
Replacement Cost Coverage | BCAA

 

[marcn]

BCAA has basic Replacement Cost and Replacement Cost Plus. They would not let me insure on the Plus option.

Hmm, I wonder if that has changed recently? I insured my Model 3 AWD when I got it in Oct. 2018 and I was able to get Replacement Cost Plus for $153.

 

[Dutchie]

just received my renewal notices
ICBC basic coverage (43% discount) $1,345 (including $40 BC parks plate renewal)

Belairdirect. $1,427

Excess liability $4,800,000
Deductible $1,000
Excess underinsured Motoris 1 M
Roadside assistance
Windshield replacement
Replacement cost endorsement (new car at totall loss before car is five years old) cost included in premium $158
Accident forgiveness for two accidents
Loss of use $1,000

 

[chr.lee]

just received my renewal notices
ICBC basic coverage (43% discount) $1,345 (including $40 BC parks plate renewal)

Belairdirect. $1,427

Excess liability $4,800,000
Deductible $1,000
Excess underinsured Motoris 1 M
Roadside assistance
Windshield replacement
Replacement cost endorsement (new car at totall loss before car is five years old) cost included in premium $158
Accident forgiveness for two accidents
Loss of use $1,000

Does Belair require Automerit to be installed?

Car Insurance Quotes | Free and quick quote | belairdirect

 

[Dutchie]

Does Belair require Automerit to be installed?

Car Insurance Quotes | Free and quick quote | belairdirect

No, it's an option

 

[BEPA400]

Wow, 4.8M.. excess liability indeed!!

 

[MexiCanuck]

Wow, 4.8M.. excess liability indeed!!

I currently have three vehicles. I have $5,000,000 third-party liability and underinsured motorist coverage. I’m hopefully unlikely to use any of it. But I sleep well knowing that if I hit a new graduate neurosurgeon or get hit by someone with $200,000 liability insurance I will not be suffering financially for the rest of my life.

 

[Dutchie]

I currently have three vehicles. I have $5,000,000 third-party liability and underinsured motorist coverage. I’m hopefully unlikely to use any of it. But I sleep well knowing that if I hit a new graduate neurosurgeon or get hit by someone with $200,000 liability insurance I will not be suffering financially for the rest of my life.

Indeed and the excess premiums are nothing noteworthy

 

[BEPA400]

Indeed and the excess premiums are nothing noteworthy

How much is the difference in premiums?

 

[BEPA400]

I currently have three vehicles. I have $5,000,000 third-party liability and underinsured motorist coverage. I’m hopefully unlikely to use any of it. But I sleep well knowing that if I hit a new graduate neurosurgeon or get hit by someone with $200,000 liability insurance I will not be suffering financially for the rest of my life.

I sleep well knowing my insurance investments will always be solid performers

 

[MexiCanuck]

I sleep well knowing my insurance investments will always be solid performers

Its nice when things work out well for everyone.

I have a sibling who was a bodily injuries adjuster for auto insurance. She counselled me on three aspects specifically, that she too practiced.

One was to have maximum third-party liability.

Another was to have under-insured motorist protection.

The third was to not own or be a passenger in a two-row, two-door vehicle. She referred to the number of bodily injury claims she had in which the rear seat passengers sustained much more severe outcomes, including death, because they were trapped in the rear seat.

She takes my advice on matters in my area of expertise and I am happy to take advice from her about auto insurance liability issues.

I also happen to provide services to a dozen or so people who sell auto insurance. I take advice from them on policies from various insurance companies, so hopefully my purchasing of insurance does not unnecessarily inflate your investment returns.

 

[Kevinfish]

Just got my VIN and will be picking my car up on May 31.

For those who gets optional from BCAA, did you get insurance setup before picking up the car or did you apply through Tesla's on-site insurance agent?

 

[fidodido]

Just got my VIN and will be picking my car up on May 31.

For those who gets optional from BCAA, did you get insurance setup before picking up the car or did you apply through Tesla's on-site insurance agent?

I brought my ICBC agent (my friend) to get the insurance. So, if BCAA agent is willing to come, I guess you could ask BCAA agent to come and do both ICBC and BCAA optional insurance. I didn't know about BCAA insurance, and I changed the optional insurance after couple of weeks, and cancelled ICBC optional insurance. You should ask local BCAA office first for best way to obtain the optional insurance.