Reference
Depreciation
Definition of depreciation, the items depreciation applies to, and considerations to component condition.
Definition of depreciation, the items depreciation applies to, and considerations to component condition.
Customers must contribute to the costs required to repair or replace damaged or worn parts, when applicable, regardless of their responsibility for a crash, for claims with a date of loss (DOL) on May 1, 2021, or later.
Basic Vehicle Damage coverage and Optional coveragepay for repairs, subject to depreciation, when applicable.
ICBC Optional Autoplan Optional Policy, Division 8, Section 5 (6) Requirements if loss or damage to vehicle
Basic Vehicle Damage Coverage Regulation, Section 15 (3), Indemnification for damage to
or loss of eligible vehicle