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Old 01-12-2006, 07:15 PM   #1
Gambit
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Join Date: Jul 1999
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Default optional insurance: ICBC lesser of the evils?

Hey all,
So I've been relocated to Vancouver. I'm wondering if ICBC's optional insurance competitive against other ones. I wish I can bring along my State Farm policy as it is quite cheap. Should I look for other insurance company other than ICBC? Recommendations?

thanks!
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Old 01-12-2006, 07:32 PM   #2
KenM
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As far as I know you only have ICBC or Insurance Direct as choices for optional.
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Old 01-12-2006, 08:07 PM   #3
tora
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I think for your basic insurance ISBS is the only one....but you can get "extra" insurance through other providers? No...?
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Old 01-12-2006, 08:33 PM   #4
Maitland
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edited

Last edited by Maitland; 01-19-2006 at 07:18 PM.
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Old 01-12-2006, 11:22 PM   #5
drifter dave
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believe it or not I saved a grand a year on a new Jeep with CDI - worth a look..
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Old 01-13-2006, 02:51 AM   #6
Picard
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When I switched to CDI with my 2003 Toyota Sequoia I saved about $300 over ICBC. Then they offered a subsidized accident avoidance course at Boundry Bay for $60 and now for the next five years they've given me an additional 5% discount off my collision premium. When I traded in for my 2006 STI, my premium only went up by $12 (for six months--I'm midway through my term).

CDI is good for me, but if you have to make a claim it's way easier to deal with one insurance company rather than having to deal with two.

Last edited by Picard; 01-13-2006 at 02:56 AM.
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Old 01-13-2006, 04:56 AM   #7
lummer shawn
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yeah
it may be cheaper in the long run
but when you need to make a claim, think of the money saved vs. the pain the arse to get it figured out

my gf's parents had secondary insurance and when they got in an accident they had to jump through sooo many more hoops, that afterwards they switched all their cars back to just ICBC.
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Old 01-13-2006, 10:43 AM   #8
WhistlerRally
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I also save quite a bit each year by getting my comprehensive/additional liability through BCAA. Shop around a bit, but don't write off ICBC totally...depending on your age and driving record, they may be cheaper.

As for the pain in the ass factor...I've had totally the opposite experience. I was REALLY happy with my BCAA coverage when my Focus was written off in the fall. They have a 7 day resolution policy, so I actually had a cheque in my hand within a week after the car was totalled! ICBC still hasn't given me a resolution yet on where they are laying blame.

Last edited by WhistlerRally; 01-13-2006 at 10:46 AM. Reason: added
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Old 01-13-2006, 12:11 PM   #9
Iron Glove
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There are a number of Private Insurers that offer the optional coverages, including CDI, Family, BCAA, etc. Try them all for quotes, you will need to talk to your Insurance Broker to access some of the Insurers as many are not Direct Writers like CDI.
Most of the Private Insurers bias their rates towards favouring the older, experienced driver that has a Ma & Pa car, not an 18 yr. old with a WRX.
Whilst ICBC is not everyone's favourite, there can be advantages gained in having all your insurance with one Company in the event of a claim.
Also check what the deal is when you sell or trade your car and want to transfer the insurance to the new car. ICBC allows a number of days "automatic" coverage for the new car. I was told by CDI that they do not provide this unless you have all of your cars in the family insured with them. Caused me a bit of a hassle when I traded in a car at a dealer awhile ago.
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Old 01-13-2006, 02:35 PM   #10
Picard
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Quote:
Originally Posted by Iron Glove
I was told by CDI that they do not provide this unless you have all of your cars in the family insured with them. Caused me a bit of a hassle when I traded in a car at a dealer awhile ago.
Hmm, that's interesting. CDI never mentioned that to me at all. They just said straightup that I had 14 days after trading-in the vehicle to update my info.

Oh, yeah. You have to have ICBC for basic insurance anyway so that info gets updated right away at the dealership. Unless you have a lien on the car the dealership doesn't care if you put optional coverage on it or not. Maybe that's why I didn't get hassled....
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Old 01-13-2006, 03:37 PM   #11
Iron Glove
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My problem wasn't with the Dealer, it was simply in tranferring the existing cover over to the new vehicle while I was ar the Dealers. The Autoplan roadrunner was there immediatly to do the transfer but I had to call CDI myself to do the tranfer on the optional coverage. If both of our vehicles were insured with CDI, no problem for 14 days but as the wife's was 100% ICBC, no grace was allowed. Dumb. I have since switched to 100% ICBC and it was actually cheaper.
I have nothing against the Private Insurers - I make my living in the Insurance Industry, but I do question the Private Insurer's marketing tactics and their attacks on ICBC. I'm old enough to remember pre ICBC and as a result of the Private Insurance Industries terrible handling of Auto Insurance we had ICBC foisted upon us.
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