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05-10-2016, 09:16 AM
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#1 | | Witness protection
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| ICBC New Vehicle Replacement Plus coverage
Is anyone here using this? New Vehicle Replacement Plus coverage
Or can anyone recommend a 3rd party insurer that is better, or maybe cheaper?
The dealership I went to promotes this as an alternative to ICBC: GAP PLUS Plans British Columbia | GAP PLus- Your number one provider for vehicle replacement protection; insuring your investment is safe
Comments/recommendations?
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"The guy in the CR-V meanwhile, he'll give you a haughty glare. He's responsibly trying to lessen his impact, but there you go lumbering past him with your loud V8, flouting the new reality. You may as well go do some donuts in a strawberry patch and slalom through a litter of kittens." Dan Frio, Automotive Editor, Edmunds
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05-10-2016, 09:29 AM
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#2 | | My dinner reheated before my turbo spooled
Join Date: Oct 2002 Location: vancouver
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People at the dealerships get a bigger cut for selling the third party insurance. IMO its much better to pay alittle more and go with ICBC. If you do have an accident everything is in place if the vehicle hits 50% of the value. If you go with the third party insurance it can be alot of back and fourth BS.
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05-10-2016, 09:42 AM
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#3 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jul 2006 Location: Vancouver
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Depends on how much you trust your third party insurance but it may be cheaper than ICBC.
__________________ Quote:
Originally Posted by PeanutButter  Damn, not only is yours veiny AF, yours is thick AF too. Yours is twice as thick as mine.. That looks like a 2" or maybe even 3"? | | |
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05-10-2016, 10:57 AM
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#4 | | I don't get it
Join Date: Feb 2016 Location: Richmond
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Originally Posted by roastpuff Depends on how much you trust your third party insurance but it may be cheaper than ICBC. | +1 on this, my friend works at Benz, and has a lease with them and insurance is through a 3rd party not ICBC.
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05-10-2016, 12:00 PM
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#5 | | OMGWTFBBQ is a common word I say everyday
Join Date: Jul 2006 Location: Vancouver
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| Quote:
Originally Posted by swiftshift +1 on this, my friend works at Benz, and has a lease with them and insurance is through a 3rd party not ICBC. | I went with DriveSure and not ICBC, it was over 40% cheaper for replacement insurance for my new truck, and way cheaper than what Allwest was offering at the dealer.
__________________ Quote:
Originally Posted by PeanutButter Damn, not only is yours veiny AF, yours is thick AF too. Yours is twice as thick as mine.. That looks like a 2" or maybe even 3"? | | |
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05-10-2016, 12:05 PM
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#6 | | Zombie Mod
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I went 3rd party when I got my Spec V, which ended up getting totaled. I don't remember any hassle when dealing with the insurance company to cover the payout.
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Romans 10:9 | 
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05-10-2016, 12:08 PM
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#7 | | Witness protection
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Originally Posted by Presto I went 3rd party when I got my Spec V, which ended up getting totaled. I don't remember any hassle when dealing with the insurance company to cover the payout. | name of 3rd party?
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"The guy in the CR-V meanwhile, he'll give you a haughty glare. He's responsibly trying to lessen his impact, but there you go lumbering past him with your loud V8, flouting the new reality. You may as well go do some donuts in a strawberry patch and slalom through a litter of kittens." Dan Frio, Automotive Editor, Edmunds
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05-10-2016, 12:13 PM
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#8 | | Zombie Mod
Join Date: Aug 2003 Location: Langley
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Sorry, I can't remember. It was more than 12 years ago 
It's whatever company Morrey Nissan was using. It may have been AllWest.
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Romans 10:9 | |
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05-10-2016, 02:50 PM
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#9 | | Revscene.net has a homepage?!
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I bought a car recently and because our family's trusted insurance agent was on vacation I reluctantly used the dealership insurance agent, who happened to be from Allwest. Nice guy and all, but he said that my car was outside a certain rate class therefore I was unable to purchase the New Car Replacement coverage from ICBC. He then told me that since ICBC doesn't cover it, they can sell me GAP Plus plan. Since I planned on purchasing the ICBC one and I spend most of my time in Richmond it was a no-brainer. A few weeks later after my insurance agent came back I had him double check and sure enough it was available for my car from ICBC. Since ICBC worked out to be more expensive than the GAP Plus plan I let this issue go, or else it would've not pretty
tldr: fuck Allwest
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05-10-2016, 03:07 PM
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#10 | | Witness protection
Join Date: Apr 2001 Location: GVRD
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isn't ^ fraud? 
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"The guy in the CR-V meanwhile, he'll give you a haughty glare. He's responsibly trying to lessen his impact, but there you go lumbering past him with your loud V8, flouting the new reality. You may as well go do some donuts in a strawberry patch and slalom through a litter of kittens." Dan Frio, Automotive Editor, Edmunds
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05-10-2016, 10:53 PM
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#11 | | Revscene.net has a homepage?!
Join Date: Nov 2002 Location: Surrey
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All west agents lie. Bring you own agent to the dealership when you buy a car. Tell All-west to take a hike, if they pressure you tell the dealership the deal is off.
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05-10-2016, 10:58 PM
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#12 | | Revscene.net has a homepage?!
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Originally Posted by thumper isn't ^ fraud? | To be honest the thought crossed my mind that I should complain to ICBC and see where that goes. However, the money for the optional coverage came out to less than the ICBC one, so that made me feel a bit better and let it go.
Not in the mood to start a shitstorm now.
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05-11-2016, 11:17 AM
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#13 | | Rs has made me the man i am today!
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The company we dealt with was Optiom Inc.
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05-11-2016, 11:37 AM
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#14 | | Witness protection
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Originally Posted by Doubl3_H The company we dealt with was Optiom Inc. | have you had to use their coverage before for an accident claim?
__________________
"The guy in the CR-V meanwhile, he'll give you a haughty glare. He's responsibly trying to lessen his impact, but there you go lumbering past him with your loud V8, flouting the new reality. You may as well go do some donuts in a strawberry patch and slalom through a litter of kittens." Dan Frio, Automotive Editor, Edmunds
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05-11-2016, 12:11 PM
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#15 | | 14 dolla balla aint got nothing on me!
Join Date: Mar 2010 Location: Burnaby
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i have Optiom as well. maybe like half a year ago I claimed some damage on my front bumper and the process was very easy and hassle free. Paid my deductible to ICBC and Optiom sent a check back to me a week later.
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05-13-2016, 06:05 PM
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#16 | | retired
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I've dealt with many claims for customers who had Optimum Inc/Ultima Risk Solutions. While I cant comment for their coverage for total losses (as I haven't done one before) they are good when it comes to covering for OEM parts (if you purchased that policy).
It's just a little more work for the repair shop to deal with, but it is overall headache free. They also have deductible reimbursement of up to $250. So most customers just up their collision/comp to $500 with ICBC.
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05-13-2016, 07:40 PM
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#17 | | Banned By Establishment
Join Date: Nov 2005 Location: Usa
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Stick with icbc for vehicle replacement, if the value of the approved repair costs =16k and actual repair costs =15,200
Their adjusters will repair the fucking car instead.
Apparently Icbc adjusters would have wrote it off. I know by recent experience 
They are very good at repairing and replacing after market parts though they didn't even ask for receipts , as long as it was on the car and damaged it was fixed /replaced
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05-17-2016, 10:30 PM
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#18 | | 【=◈︿◈=】
Join Date: Aug 2006 Location: Ricemond
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most of my customers carry either optium, ultima risk or aviva for 3rd party coverage. as truenosan said its more work for the shop, but theres really no downside for the customer
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05-17-2016, 11:02 PM
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#19 | | I bringith the lowerballerith
Join Date: Feb 2013 Location: BC
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I have optiom. Formally known as ultima risk solutions. It's 3 years OEM parts replacement and 4-5 years vehicle replacement when it's totalled
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05-18-2016, 05:54 AM
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#20 | | I *heart* Revscene.net very Muchie
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| Quote:
Originally Posted by Presto I went 3rd party when I got my Spec V, which ended up getting totaled. I don't remember any hassle when dealing with the insurance company to cover the payout. | I also had a Spec V totalled and purchased third party coverage from Allwest. The policy was from St. Paul. It was a good deal because they also topped up your collision deductible so you could carry a higher deductible with icbc and save $100/year on your regular insurance. After their reimbursement you were left with a $200 deductible. A win on both ends.
In my case my vehicle wasn't even technically a write off. I didn't want it back and had icbc pay me repair value plus salvage. The third party coverage paid me out anyway.
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09-06-2022, 06:45 PM
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#21 | | Say! Say! Say!
Join Date: Aug 2005 Location: Japan
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Bumping this thread.
What are you guys paying per month and with which broker?
I recently upgraded to the 2022 Mazda 3 GT Turbo.
For six years with Optiom, it's $3007. $2500 for the base price and $507 referral fee. Roughly $500 a year.
Total loss benefit, partial loss using OEM parts, key fob reimbursement, $500 deductible reimbursement, and rental vehicle reimbursement.
My main insurance broker doesn't dabble in third party insurance, but he said that the policy seemed a bit pricy. He told me to shop around since my Optiom is still cancellable for another two weeks.
I was previously paying about $425 on my 2019 Mazda 3 GS through ICBC for just the new vehicle replacement, so it seemed reasonable at the time given the extra features and increase of my new vehicle's value. Now I'm having doubts whether or not I'm overpaying by a bit.
__________________ Quote: | Owner of Vansterdam's 420th thanks. OH YEAUHHH. | Quote:
Originally Posted by 89blkcivic Did I tell you guys black is my favourite colour? My Ridgeline is black. My Honda Fit is black. Wish my dick was black........ LOL. | | |
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09-06-2022, 10:36 PM
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#22 | | RS has made me the bitter person i am today!
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How does this work? They give you a new car? But you can't get a new car or car parts lol
Never had the luxury of a new car  | |
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09-07-2022, 06:47 AM
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#23 | | Rs has made me the woman i am today!
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I have Optiom. Hopefully I never have to use it because apparently it's really hard to claim and they give you the run around. And you have to buy at the same dealership that you purchased from.
Sent from my SM-G781W using Tapatalk
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09-07-2022, 01:08 PM
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#24 | | Say! Say! Say!
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Originally Posted by JDMDreams How does this work? They give you a new car? But you can't get a new car or car parts lol
Never had the luxury of a new car | It's basically insurance where the company pay out the difference between what ICBC values the car at and MSRP of a current year equivalent of your vehicle.
This is the example they put in the policy notes.
You buy a New Vehicle for $60,000 from your Dealer, of which $50,000 is borrowed. You buy an OPTIOM PLUS Policy and your car is stolen one year later and not recovered. At the time your car is stolen, you still owe $45,000 to your Lender/Lessor. Your Primary Auto Insurer pays you $40,000. The MSRP Value of the Replacement Vehicle We Cover is $65,000. You will be entitled to a benefit of $25,000 comprised of a $5,000 payment to your Lender/Lessor to reduce the remaining balance and $20,000 to be applied as a credit through your Dealer towards the purchase/lease of a Replacement Vehicle We Cover. Also, if you paid a deductible to your Primary Auto Insurer we will reimburse you for this up to $500.
So the only thing that might suck is that you'll have to end up getting another vehicle from the same dealer. If you end up wanting something else I'd guess you'd have to take a hit and trade it in or something, lol. Quote:
Originally Posted by BIC_BAWS I have Optiom. Hopefully I never have to use it because apparently it's really hard to claim and they give you the run around. And you have to buy at the same dealership that you purchased from.
Sent from my SM-G781W using Tapatalk | Yeah, I've read both bad and good things about people trying to do claims. Guess it's hit or miss which person does your claims, maybe.
__________________ Quote: | Owner of Vansterdam's 420th thanks. OH YEAUHHH. | Quote:
Originally Posted by 89blkcivic Did I tell you guys black is my favourite colour? My Ridgeline is black. My Honda Fit is black. Wish my dick was black........ LOL. | | |
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