Last updated 2026-08-13
Page ID: 2XBBEL
Total loss and salvage management
Managing the total loss and salvage of a customer's vehicle.
Section topics
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Process
Obtaining a valuation
Obtain a valuation for a potential total loss.
Obtain a valuation for a potential total loss.
Concept
Actual cash value policy
When a vehicle is a total loss, estimators have five working days, from the date the vehicle is confirmed as a total loss, to present the actual cash value (ACV) to the registered owner (RO) in the form of a total loss settlement.
When a vehicle is a total loss, estimators have five working days, from the date the vehicle is confirmed as a total loss, to present the actual cash value (ACV) to the registered owner (RO) in the form of a total loss settlement.
Procedure
Settle total loss with endorsement
Steps to settle a total loss vehicle with an endorsement.
Steps to settle a total loss vehicle with an endorsement.
Procedure
Settle a total loss on a leased vehicle
Steps an estimator performs when settling a total loss on a leased vehicle.
Steps an estimator performs when settling a total loss on a leased vehicle.
Principle
Total loss settlement for government vehicles policy
Policy on total loss settlement for government vehicles.
Policy on total loss settlement for government vehicles.
Reference
Co-insurance calculations on a declared value vehicle
Examples of how co-insurance is calculated on either a total loss vehicle or repairable vehicle when co-insurance applies.
Examples of how co-insurance is calculated on either a total loss vehicle or repairable vehicle when co-insurance applies.
Topic
Total loss settlement policy
Claims representatives must ensure total losses are settled in accordance with ICBC requirements, to ensure a fair and prompt settlement for the customer.
Claims representatives must ensure total losses are settled in accordance with ICBC requirements, to ensure a fair and prompt settlement for the customer.
Principle
Conditions for issuing a total loss settlement cheque
Specific conditions must be met before a total loss settlement cheque is issued to a customer.
Specific conditions must be met before a total loss settlement cheque is issued to a customer.
Topic
Lien search policy
All confirmed total losses must have a lien search ordered or conducted within 30 days of the settlement payment.
All confirmed total losses must have a lien search ordered or conducted within 30 days of the settlement payment.
Concept
Insurance policy cancellation or transfer
The benefits and requirements of transferring an insurance policy to a replacement vehicle, rather than cancelling the insurance policy when the original vehicle involved in a crash is a total loss, or customer sells their vehicle and purchases a replacement vehicle.
The benefits and requirements of transferring an insurance policy to a replacement vehicle, rather than cancelling the insurance policy when the original vehicle involved in a crash is a total loss, or customer sells their vehicle and purchases a replacement vehicle.
Topic
Total loss settlement by Electronic Funds Transfer payment criteria
Prior to issuing a total loss settlement electronic funds transfer (EFT) payment to a customer, specific criteria must first be met.
Prior to issuing a total loss settlement electronic funds transfer (EFT) payment to a customer, specific criteria must first be met.
Principle
Total loss settlement dispute policy
The original claim owner assigned to settle a customer's total loss must also handle any resulting total loss settlement disputes raised by the customer.
The original claim owner assigned to settle a customer's total loss must also handle any resulting total loss settlement disputes raised by the customer.
Topic