New Vehicle Replacement Plus | Replacement Cost Coverage | Limited Depreciation
This is ICBC's best protection available for your new car. If your vehicle has a damage claim, it is declared a write off when the assessed damage exceeds just 50% of market value. Other benefits include: your choice of cash payout or replacement with a brand-new vehicle, compensation for depreciation and inflation, and more!
This is great protection for a vehicle three years old or newer. If your vehicle is written off, you may choose a brand-new version of your vehicle or cash payout. Depreciation and inflation are covered, too! When repairs can be done, new parts from the manufacturer (OEM parts) are used, where available.
If you don't qualify for Replacement Cost Coverage, you can still protect your vehicle against declining value due to depreciation.
| Eligibility | New Vehicle Replacement Plus | Replacement Cost Coverage | Limited Depreciation |
| Brand-new vehicles |  |
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| Used vehicles |  |
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| Model years | 1 | 1,2,3 | 1,2,3 |
| Benefits when vehicle is a write off | |||
| Deductible is reimbursed | |
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| Compensates for inflation | |
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| Compensates for depreciation | |
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| Threshold for replacement | 50%iii | Variesiv | Variesiv |
| Choice of settlement options | |
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| Benefits when vehicle is repairable | |||
| Unlimited Genuine OEM Partsi | |
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| Choice of body shop | |
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| Guaranteed repairs through ICBC c.a.r. shop facilities | |
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i: Where available.
ii: For Limited Depreciation coverage only, depreciation applies to tires, batteries, convertible tops and vehicle paint.
iii: Vehicle is written off when assessed value exceeds 50% of its market value.
iv: Under Replacement Cost and Limited Depreciation coverages, a vehicle is written off when assessed damage exceeds 75-90% of its market value.
For pricing, eligibility and other details, call your Autoplan broker today!
