Purchasing automotive insurance through ICBC is something that must be done, but there are some choices to be made along the way. After purchasing either collision or comprehensive insurance, a deductible must be chosen. This is the amount that must be remitted to ICBC before insurance will take over and pay for any repairs or replacements on a vehicle the is need of repair.
Collision and comprehensive insurance deductibles typically range between $300 to $2,500. When you choose a low cost deductible, your monthly ICBC payments will go up. Same goes for the other option; when you choose a high cost deductible, your insurance premium will be lower.
It’s important to weigh your options. If you choose a higher deductible, your monthly fees will go down, but you have to consider that if you are in an accident, whether or not you can afford a higher deductible when you visit a repair shop for your claim. On the flip side, it may be the best choice to pay more per month so that if you are in an accident or need comprehensive coverage, you can afford your deductible.
While there is no online calculator to determine your monthly premium in relation to your deductible choice, an insurance representative will be able to help you. This will help you to make an informed and wise decision. Many things are taken into consideration to determine your monthly cost, including your claims history and driving record.
Before making a decision, be sure to consider your options by seeking the advice of an insurance professional. Whatever is decided, it must be the best option for you and one that you are comfortable paying, should you have the misfortune of making an ICBC claim.
And don’t forget—any Quality Assured Glass and Collision location will be happy to help you with your claim, regardless of which deductible you choose. All of our shops are accredited ICBC c.a.r. shop VALET where all repairs are guaranteed for as long as you own your vehicle. Be sure to stop by when you are in need of any auto body repairs.