New Vehicle Replacement Plus | Replacement Cost Coverage | Limited Depreciation
Limited Depreciation coverage protects against the declining value of a vehicle due to depreciation.
You could get this coverage if your vehicle is up to three model years old — even if you don't have current ICBC Optional coverage with a minimum discount of 20% (Claim-Rated Scale -4).
If your vehicle is declared a write off after a crash, a standard insurance policy will typically only pay you its current market value. Depreciation isn't covered.
This means your settlement could end up being much less than the actual cost to replace your vehicle.
With Limited Depreciation coverage, you receive a cash settlement that compensates you for depreciation.
With Limited Depreciation coverage you have your choice of repair shop. When you go to an ICBC c.a.r. shop facility, the repairs are fully guaranteed for as long as you own your vehicle.
The vehicle must be three years old or newer.
For pricing, eligibility and other details, call your Autoplan broker today!
