ICBC Autoplan: Insurance For Vehicles
Auto insurance coverage is very important for every society, especially in British Columbia.
ICBC is a public insurance company that insures all drivers in BC. Understanding your insurance coverage would help protect yourself and loved ones when you are in an accident. Every driver in British Columbia is required to purchase basic Insurance with ICBC. There are additional optional coverages available to protect you and your vehicle.
The most important coverage of an Car Insurance Policy are the following:
Third Party Liability Coverage
Insures for bodily injury or property damage you may cause to others, and are held legally responsible for. Third-Party Liability does not insure yourself or any of the property you own, including your vehicle.
This coverage protects your own vehicle when you damage it in an accident. Whether you had a collision with another vehicle, a lamp post, or a tree, if you damaged your vehicle in a collision, this coverage is triggered to repair your vehicle.
This coverage protects your own vehicle when you don't know who damaged it. For example, in a collision with an animal, or in a hit-and-run accident, Comprehensive Coverage is triggered to repair your vehicle.
Protects yourself for medical and wage loss insurance if you are injured from a motor vehicle crash. This is no-fault insurance. So you are covered regardless of who caused the accident. Benefits are also payable to all passengers of a vehicle licensed and insured in BC.