Quote:
Originally Posted by iKayChow
Did not read original post but based on comments sounds like something I am currently dealing with. Any update on what you did and what happened?
Short story. Car got hit, icbc ruled not at fault, bcaa only writes off no cash settlement, don't want to get rid of car as only 45,000km and can't buy anything similar with the amount being offered
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Answer found here:
https://www.revscene.net/forums/7173...ml#post9037728
Always important to know the pros and cons if switching from ICBC to a 3rd party policy.
All the policy documents are on BCAA's website.
Here you go, it says:
Quote:
The liability of the insurer for payment of indemnity for loss or damage to the vehicle is
limited to the amount by which
a) the cost of repairing or replacing the vehicle and its equipment or any part of it with
material of a similar kind or quality,
b) the declared value of the vehicle and its equipment, if appropriate, or
c) the actual cash value of the vehicle and its equipment, whichever is least, exceeds
the deductible amount set out in this contract.
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Your best approach is to do everything in your power to convince BCAA that based on current market conditions, the cash value of your vehicle is higher than what they say it is. Show them comparable ads for sale. Maybe contact dealerships, go and take photos of cars for sale. Higher an 3rd party appraiser. Good luck.