Last updated 2019-07-20

Conditions for issuing a total loss settlement cheque

Specific conditions must be met before a total loss settlement cheque is issued to a customer.

Total loss cheques are issued only when the following specific conditions are met to avoid potential settlement problems:

Actual Cash Value (ACV) has been presented to the registered owner
a settlement amount has been reached
one of the following form have been signed:
- Vehicle Ownership Transfer Agreement (CL96)
- Owner Retention Agreement (CL96C)
- Commercial Claims Salvage Purchase Agreement (CL96D)
a lien check has been completed and any lienholders have been identified
where the vehicle has own damage coverage for the loss, and the insured is at fault and/or liability has not yet been settled, the deductible has been applied
ICBC and motor vehicle debt has been deducted, if applicable
where there is no own damage coverage for the loss, liability has been resolved in the customer’s favour
all coverage and breach issues are resolved, and
we have the Conditions for issuing a total loss settlement cheque, or the owner retention process is complete.

Note: When the customer did not attend a claims office, issue the cheque after the settlement amount has been reached.