Customers with multiple Comprehensive claims may have to pay higher deductibles. Here's how it works.
What's an escalating deductible?
It is the deductible offered to some customers when they have more than the average number of Comprehensive claims. It ranges from $500 to $2,500. In rare cases, customers may be denied the option to purchase Comprehensive or Specified Perils coverage.
Why a higher deductible?
Customers have told us they don't want to share the costs of drivers who have frequent claims. Raising deductibles or limiting coverage after multiple Comprehensive claims is common within the insurance industry. The intent is that those who have more of these types of claims pay more of their claims costs.
The following are tips to help keep you and your vehicle safe:
- Auto crime. Use an anti-theft device and remove items in your vehicle from sight.
- Animal collisions. Watch for highway warning signs and slow down. Be extra cautious at dawn or dusk. More on reducing the risks of wildlife collision.
- Windshield damage. Always keep a safe distance behind vehicles and let passing vehicles pass you quickly.
- Windshield repairs. Repair a chipped windshield to prevent the need for a replacement. With ICBC's Comprehensive coverage, windshield repairs are free and do not impact your future deductible amounts or premiums.
For more information, talk to your Autoplan broker.
How will I be notified?
We will notify you by letter if you are going to be affected by an increased deductible. If you're faced with an increased deductible and you purchase or lease another vehicle, discuss your options with your Autoplan broker.
When can I apply for a review?
The escalating deductible will no longer apply after three years unless you have another Comprehensive claim during this period. You can apply for a review sooner if you
- can show that you made a significant, relevant change that has stopped your claims and
- continue to have no claims for at least one full year
To request a review of your file, send a letter explaining in detail what has changed to
ICBC Risk Underwriting
151 W Esplanade
North Vancouver, BC V7M 3H9