Replacement Cost Coverage

ICBC Replacement Cost Coverage protects your vehicle against depreciation and inflation, plus offers other valuable benefits. It is available for vehicles up to three model-years old.

If your vehicle is written off

Replacement Cost Coverage offers replacement value. It provides

• money for depreciation and inflation. With other policies, your payout may not be enough to replace your vehicle with a new one. With Replacement Cost Coverage, your settlement is based on what it costs to replace your vehicle with a new one of the same make and model, at current market prices (if that model is still available).
• your choice of settlement method. You can replace your vehicle with a new one of the same make and model, replace it with another model, or receive a cash payout—the choice is yours. 

If your vehicle is repairable

Replacement Cost Coverage includes

• new OEM parts. When a part on your vehicle is damaged and needs replacing, a new part from your vehicle's manufacturer is used.
• your choice of auto-body shop.
• fully guaranteed repairs. ICBC c.a.r.shops offer guaranteed repairs for as long as you own your vehicle.

Am I eligible?

If you have Optional Autoplan coverage with 20 per cent discount or higher (Claim-Rated Scale -4), you are eligible—even if you're not the first owner of the vehicle.

For more information, or to purchase this policy, please contact your Autoplan broker.