The Insurance Corporation of British Columbia, more commonly known as the ICBC, is an insurance company that provides universal auto insurance to residents of British Columbia. By law, every resident of British Columbia must have auto insurance through the ICBC.
The basic auto insurance package offered by ICBC is called the Autoplan and includes the following:
- Third party legal liability protection
- Under-insured motorist coverage
- Accident benefits
- Hit and run protection
- Inverse liability
ICBC offers additional coverage such as:
- Extended liability
- Comprehensive plans
The ICBC holds the monopoly on auto insurance in British Columbia. There are private insurance firms that can offer residents additional coverage. However, all registered BC vehicles that are parked or driven on public streets are required to have ICBC insurance. Proof of insurance can be noted by the application of an ICBC decal on the vehicle’s license plate.
It is important to remember that ICBC insures both the at-fault party and the injured party in auto accident cases. This means that ICBC does not have either party’s best interests in mind. In fact, ICBC wants to pay as little compensation for your personal injuries as possible. To ensure you get the compensation you are entitled to and to ensure that your rights are protected, it is a good idea to speak with the Vancouver, BC, ICBC lawyers at Stephens & Holman about your auto accident case.
Before you contact ICBC about your auto accident, please contact our Vancouver, BC, ICBC lawyers to schedule a free, no obligation consultation about your case.