As a government body, the Insurance Corporation of British Columbia is the sole provider of the mandatory basic third party liability ($200,000) in BC. The basic coverage also provides accident benefits; up to $150,000 regardless of who is at fault, for each injured party; up to $1 million per person if you’re hit by an under-insured or uninsured driver(under-insured motorist protection) as well as up to $200,000 coverage for damage, injury or death as a result of a hit and run claim.
The legislation of this mandatory coverage ensures that all drivers of BC insured vehicles will have some protection.
ICBC offers third party liability limits up to $5,000,000, so, should you be at fault for a loss, the limit you select can satisfy claims against you for damage or injury resulting from the accident. Choosing the appropriate coverage is a consideration to discuss with your trusted broker.
Collision and comprehensive coverages are considered optional in BC. How you protect your investment in your vehicle, and the deductible are your choice. Also available are a variety of packages and endorsements designed to enhance the policy to provide for your specific needs.
ICBC offers a wide range of ‘special‘ coverages, such as Temporary Operating Permits (short term insurance from one to fifteen days), Binder of Insurance (in case you find that perfect vehicle when you are outside the province), Rented Vehicle Policy (renting a car on vacation), or additional under-insured motorist protection (up to $2 million). If you have a vehicle insurance need, we can help you find the appropriate product.
BC is home base for many commercial enterprises, international and domestic truckers, large farms, and vehicles for hire. We can also assist with insurance for your fleet, dealership or repair facility. Icbc.com