Total losses and salvage

Repair versus total loss

Obtaining a valuation
Obtain a valuation for a potential total loss.

Actual cash value policy
When a vehicle is a total loss, ICBC representatives have five working days from the date the vehicle is confirmed as one to present the actual cash value (ACV) to the registered owner (RO) in the form of a total loss settlement.

Determine a total loss at the collision repair program facility
An estimator reviews a total loss notification in WorkCenter (WC) and determines if a physical inspection of the vehicle is required or estimate can be approved.

Settle total loss with endorsement
Steps to settle a total loss vehicle with an endorsement.

Total loss settlement on a leased vehicle
Steps on settling a total loss on a leased vehicle.

Policy on total loss settlement for government vehicles
Policy on total loss settlement for government vehicles.

Declared value vehicles
List of declared value vehicles and their declared value ranges.

Policy on total loss settlement
Claims representatives must ensure total losses are settled in accordance with ICBC requirements, to ensure a fair and prompt settlement for the customer.

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

Lien search policy
All confirmed total losses must have a lien search ordered or conducted within 30 days of the settlement payment.

Plate cancellation or transfer of a policy
Summary of the requirements and benefits for transferring an insurance policy.

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.

Total loss settlement dispute policy
ICBC's policy for claims where the customer is disputing their total loss settlement amount.

Salvage

Complete a taxi total loss settlement
Steps on completing a taxi total loss settlement.