Automotive

Dealing with ICBC—car written off

  • Last Updated:
  • Nov 1st, 2018 4:50 pm
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[OP]
Deal Addict
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Jan 9, 2011
3960 posts
3654 upvotes
Vancouver

Dealing with ICBC—car written off

Hi RFDers. Interested in hearing from people who have dealt with ICBC.

2007 Mazda 3 Sport. Original owner, bought new in 2007. Only 102,000 km. 100% dealer serviced, oil changes and all maintenance done on schedule. Took good care of the body, regular wash and wax, car still looked and drove like new. Was hit by another driver who ran a stop sign. 100% the other driver's fault. $7,500 worth of damage. ICBC is writing the car off. Need advice on how to get maximum value out of this settlement. I do have an injury claim in and am going to physiotherapy if that matters. Where to start researching on value, etc. New to all of this, don't want to get taken to the cleaners. Thanks.
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15 replies
Deal Guru
Jan 27, 2006
10040 posts
3848 upvotes
Vancouver, BC
ICBC doesn't pick prices out of thin air when it comes to write-offs. They will use information available to the car industry on how they will offer you and much of that information is available freely. You should start with the industry standard Canadian Black Book and see how much used versions of your car is valued at. Then look through sites like Autotrader to better localize the information as the CBB is really general and may not contain various options you might have. Also, take into account any aftermarket upgrades you have done.
Deal Addict
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Mar 8, 2005
1636 posts
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Victoria
Did the air bags go off? that will contribute greatly .
ICBC will take market value of the vehicle. condition varies as well. if you feel you cannot find the same vehicle for the offered price by icbc.. you may hunt around ads and show them how much it is worth with a counter
[OP]
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Jan 9, 2011
3960 posts
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Vancouver
The air bags did not go off. How would that have affected the settlement?

Please also clue me in on things I might not be aware of, like will ICBC add on things like replacement vehicle taxes, registration fees, etc etc etc to the settlement? Anything that a newbie like me might not be aware of but experienced people know about would help, thanks.
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

Were you hit with surprise customs/import fees on an Amazon.ca purchase?
Deal Addict
Oct 5, 2009
1030 posts
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Dartmouth
craftsman wrote:
Oct 31st, 2018 6:39 pm
ICBC doesn't pick prices out of thin air when it comes to write-offs. They will use information available to the car industry on how they will offer you and much of that information is available freely. You should start with the industry standard Canadian Black Book and see how much used versions of your car is valued at. Then look through sites like Autotrader to better localize the information as the CBB is really general and may not contain various options you might have. Also, take into account any aftermarket upgrades you have done.
Black book is not relevant. It is used for wholesale (trade in) pricing. Insurance doesn’t use black book and neither should you. Ads from Kijiji or Autotrader type sites may be useful.

Yi7 need to realize that your car is an 11 year old car and no matter how low the KMs it’s still an 11 year old car. The value is based on market value. People are aim0ly not willing to pay big $ for 11 year old Mazda 3s.
Jr. Member
Sep 15, 2014
110 posts
42 upvotes
Toronto, ON
it does not make any difference to insurer that it was dealer serviced and well maintained
sorry about your situation
how much are they ready to pay?
Member
User avatar
Aug 19, 2018
441 posts
382 upvotes
Kiraly wrote:
Oct 31st, 2018 6:22 pm
Hi RFDers. Interested in hearing from people who have dealt with ICBC.

2007 Mazda 3 Sport. Original owner, bought new in 2007. Only 102,000 km. 100% dealer serviced, oil changes and all maintenance done on schedule. Took good care of the body, regular wash and wax, car still looked and drove like new. Was hit by another driver who ran a stop sign. 100% the other driver's fault. $7,500 worth of damage. ICBC is writing the car off. Need advice on how to get maximum value out of this settlement. I do have an injury claim in and am going to physiotherapy if that matters. Where to start researching on value, etc. New to all of this, don't want to get taken to the cleaners. Thanks.
I don't know if things changed for ICBC in the last few years, but I will provide my personal experience.

Basically, my car got totaled as well, was appraised to be a write off because the repair cost is going to be almost 8k, while the car was only worth about 11k. Initially, they offered me 9k for the write-off. I said I'm not happy with the number, they said they will escalate this to a manager and see if they can give a better price. So I said okay, they took about two days before they call me back and offered 11.5k and I took it.

That is really it. If you are not happy with the amount, ask them for adjustment might help. They might come back to you later and explain that they can't offer more. They might end up just offering you more. There is definitely a method to their process but I don't think we have any real insight into this.
Newbie
Jun 25, 2018
64 posts
21 upvotes
When they offer you an amount, don't take the first offer. Go to Kijiji and Autotrader and pull out listings for your car with same specs. Make sure they are selling for higher than what the company is offering you. Then just tell them any work you've done in the car, i.e. rust proofing, recent oil change, full tank gas, window tinting, etc. All these things add to your final amount. Don't be afraid of going back and forth few times before settling for an amount.

Keep in mind that your insurance company wants to settle your claim as soon as possible. Because they are paying your rental and the towing companies per day basis. So take your time.
Deal Addict
Apr 5, 2016
3053 posts
1750 upvotes
Calgary/Vancouver
deal1234321 wrote:
Oct 31st, 2018 11:11 pm
When they offer you an amount, don't take the first offer. Go to Kijiji and Autotrader and pull out listings for your car with same specs. Make sure they are selling for higher than what the company is offering you. Then just tell them any work you've done in the car, i.e. rust proofing, recent oil change, full tank gas, window tinting, etc. All these things add to your final amount. Don't be afraid of going back and forth few times before settling for an amount.

Keep in mind that your insurance company wants to settle your claim as soon as possible. Because they are paying your rental and the towing companies per day basis. So take your time.
Sometimes I see ICBC offer higher amount. I bought a $500 EK Civic as a project car and someone stole it and was deemed a write off. ICBC offered $1500 Face With Tears Of JoyFace With Tears Of JoyFace With Tears Of Joy. Taken the first offer and ran.
Current Fido customer.
Ex Koodo customer.
Deal Guru
Jan 27, 2006
10040 posts
3848 upvotes
Vancouver, BC
Toolatecrew wrote:
Oct 31st, 2018 9:07 pm
Black book is not relevant. It is used for wholesale (trade in) pricing. Insurance doesn’t use black book and neither should you. Ads from Kijiji or Autotrader type sites may be useful.

Yi7 need to realize that your car is an 11 year old car and no matter how low the KMs it’s still an 11 year old car. The value is based on market value. People are aim0ly not willing to pay big $ for 11 year old Mazda 3s.
It is relevant. The Black Book price will give someone an idea if the insurance company is really low-balling the offer. After all, if the write off amount is close to the wholesale price, then you don't have to think too hard that the offer is really a low-ball offer.
Deal Addict
Oct 5, 2009
1030 posts
267 upvotes
Dartmouth
deal1234321 wrote:
Oct 31st, 2018 11:11 pm
When they offer you an amount, don't take the first offer. Go to Kijiji and Autotrader and pull out listings for your car with same specs. Make sure they are selling for higher than what the company is offering you. Then just tell them any work you've done in the car, i.e. rust proofing, recent oil change, full tank gas, window tinting, etc. All these things add to your final amount. Don't be afraid of going back and forth few times before settling for an amount.

Keep in mind that your insurance company wants to settle your claim as soon as possible. Because they are paying your rental and the towing companies per day basis. So take your time.
Lots of false information here:

Rustproofing,window tinting and tank of gas add little to nothing to a total loss value.

Once they make you an offer they can end your rental within a prescribed period (usually 1-3 days) regardless if you accept the offer. You can’t force their hand by making them pay more rentals.
Same th8ng with storage. If you refuse to allow them to move it to someplace they don’t pay storage after the offer they can make you responsible for the storage charges.

Nothing wrong with negotiation and trying to get to get more but people need to understand the policy and how things work.
Deal Guru
User avatar
Oct 5, 2008
10837 posts
3821 upvotes
Toronto
Kiraly wrote:
Oct 31st, 2018 6:22 pm
Hi RFDers. Interested in hearing from people who have dealt with ICBC.

2007 Mazda 3 Sport. Original owner, bought new in 2007. Only 102,000 km. 100% dealer serviced, oil changes and all maintenance done on schedule. Took good care of the body, regular wash and wax, car still looked and drove like new. Was hit by another driver who ran a stop sign. 100% the other driver's fault. $7,500 worth of damage. ICBC is writing the car off. Need advice on how to get maximum value out of this settlement. I do have an injury claim in and am going to physiotherapy if that matters. Where to start researching on value, etc. New to all of this, don't want to get taken to the cleaners. Thanks.
most, if not all, of this thread applies:

https://forums.redflagdeals.com/non-fau ... #p29761619
Newbie
Jun 25, 2018
64 posts
21 upvotes
Toolatecrew wrote:
Nov 1st, 2018 6:11 am
Lots of false information here:

Rustproofing,window tinting and tank of gas add little to nothing to a total loss value.

Once they make you an offer they can end your rental within a prescribed period (usually 1-3 days) regardless if you accept the offer. You can’t force their hand by making them pay more rentals.
Same th8ng with storage. If you refuse to allow them to move it to someplace they don’t pay storage after the offer they can make you responsible for the storage charges.

Nothing wrong with negotiation and trying to get to get more but people need to understand the policy and how things work.
I am merely speaking from experience dealing with insurance company (Johnson) for a write-off last year. I had the rental for 2 weeks plus extension for 2 more days.
Member
Apr 27, 2009
210 posts
62 upvotes
West Vancouver
deal1234321 wrote:
Nov 1st, 2018 4:26 pm
I am merely speaking from experience dealing with insurance company (Johnson) for a write-off last year. I had the rental for 2 weeks plus extension for 2 more days.
ICBC rental car policy .

https://www.icbc.com/claims/repair-repl ... ation.aspx

Basically if purchased lost of use coverage then you get a rental or other driver at fault. Coverage subject to limits.

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