Quote:
Originally Posted by z3german
If thats the case I dont understand why we have to declare value at all unless it is HIGHER than what it should be?
So if this is the case as long as its not higher why not declare $100 for all vehicles....
ICBC logic may just be dumb, just like with the whole Richmond China License bullshit.
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Because regardless of what value your premium is based on, if your declared value is $100 (for example) if something happens to your bike ICBC will only pay you out $100. It's a retarded system. I started using Beacon last year, it's cheaper, if something happens the payout is based on the agreed upon value and when your basic runs out from ICBC the Beacon policy automatically converts over to storage insurance for the remainder of the term.