Quote:
Originally Posted by quasi
How do you feel about that coverage? I've never gotten it, I debated getting it on my latest truck (2018) but I'm not sure if it's worth it. I feel that if I get it and I happen to get in a bad accident the insurance company would spend 35 grand fixing my truck if it was cheaper than replacing it. If that's the case I don't want to be driving around in a vehicle that had that much damage. I paid cash for my truck and don't owe anything so that's what swayed me against getting it.
Maybe I'm wrong and they don't pull that shit? Is there something in the underwriting that prevents it?
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So far I feel ok. Prvate insurance comes with lots of extra fees that I hate.
There was a "referral fee" on top of the premium that amounted to almost 30% of the total cost, simply just for administration.
One advantage you might like with the ICBC coverage is the threshold for declaring a total loss is if the cost of repairs exceeds only 50% of the market value of the vehicle. The private insurance doesn't do that.