When purchasing a new vehicle to you, ICBC offersAutoplan clients a coupleof options to protect your vehicle. It provides the insured with protection against the effects of inflation and depreciation on the price of the vehicle. To eligible both ICBC Autoplan Collision and either Comprehensive or specified perils coverage will need to be purchased.
Autoplan Replacement cost coverage:
Can be purchased on new and used vehicles in the first three model years. When a total loss occurs on a vehicle and the Autoplan client has replacement cost on their vehicle, they will receive a replacement of their vehicle with the most current model of the same vehicle. In the odd case that the newest model is unavailable the ICBC Autoplan clients will receive the original net purchase price of the vehicle, or the Manufacturer’s Suggested Retail Price (MSRP) at the date of purchase.You also receive OEM coverage for parts on partial losses.
Limited depreciation coverage:
Can also be purchased on new or used vehicles for the first three model years.When a loss occurs on a vehicle with limited depreciation coverage, the client will receive replacement with similar make, model,year, style, and options but notnecessarily identical, or the lesser of: the original net purchase price paid, or the MSRP at the date of purchase. When Autoplan Limited depreciation coverage is used on a pre owned or used vehicle it will be replaced by similar make, model,year, style, and options but notnecessarily identical, or the owner will receive 90% of the MRSP at the time it was manufactured. Limited depreciation is less to purchase.
Provides the insured with protection against the effects of inflation and depreciation on
