Limited Depreciation coverage
If your vehicle is a write-off in a claim, Limited Depreciation coverage protects the value of your new or used car so you don’t lose out to depreciation or inflation. You could get this coverage if your vehicle is up to three years old.
- If your vehicle is declared a writeoff after a claim, a standard insurance policy will typically only pay you its current market value. Depreciation is not 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 a choice of auto body shops.
- With Limited Depreciation coverage, if you go to an ICBC c.a.r. shop facility, the repairs are fully guaranteed for as long as you own the vehicle.
For pricing, eligibility and other details, talk to your Autoplan broker.