ICBC total loss, what do I need to know?
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Thread: ICBC total loss, what do I need to know?

  1. #1
    Registered User Array Haxornator's Avatar
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    ICBC total loss, what do I need to know?

    Long story short, I had a low speed low side a week ago and now my 2003 CBR 600RR is a total loss.

    I'm dealing with ICBC directly as I haven't had a problem with them. Yet...

    I was wearing proper gear so I'm ok for the most part, I still have shoulder pain and have been seeing doctor's and going to physio since the accident. I've been using my work benefits to pay for physio as I didn't open a medical file since the claim is my fault and I really don't want premiums to go up if I can claim the physio money back elsewhere. I missed 3 days of work but used sick time.

    I'm a 43% road star rider with over 12 years of riding.

    This bike only had 12,000 kms on it at the time of crash. From what I gather on Craigslist it should be with about $5,000
    Also I had steel breaded brake lines installed at Honda center years ago, and an alarm system withb remote start. My adjuster said when I get the call back in a week with the estimate to mention this.

    As for gear, I'm told only my helmet, my passengers helmet, and passengers jacket are covered. Unfortunately not my jacket... But the helmets seem to only have minor scratches as there wasn't a lot of banging, should I really replace them at the risk of my premiums going up? Passengers jacket is ripped sightly so I will be getting that replaced for sure.


    So with that said, what can I expect now? And what bullshit should I be ready for from ICBC? Is there anything I missed it forgot to do?

    Thank you all in advance. This is my first time dealing with a total loss and ICBC in this manner.

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  3. #2
    Three hour tour guide Array silverD's Avatar
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    Wait for their offer and go from there.
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  4. #3
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    In preparation for their offer. Get as much evidence you can of what bikes like yours are currently changing hands for for -- craigslist sales, forums, etc... They will quote you book value, which is usually pretty fair, but you can sometimes squeeze a tiny bit more out of them if you can legitimately prove they sell for more than their offer.

    Also document anything you did recently to the bike. Many things you wouldn't think would be will be counted as "routine maintenance," and therefore be worth nothing, depending on the age and mileage of the vehicle, but if you have something like two new tires with 900k on them you can usually get an adjustment for that.

    This is from my experience dealing with two written-off cars (neither at fault). Been fortunate enough to never have a bike totaled.
    Last edited by kmoney; 08-12-2015 at 12:00 PM.

  5. #4
    Twin A Array Jaybo's Avatar
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    As for gear, I'm told only my helmet, my passengers helmet, and passengers jacket are covered. Unfortunately not my jacket... But the helmets seem to only have minor scratches as there wasn't a lot of banging, should I really replace them at the risk of my premiums going up? Passengers jacket is ripped sightly so I will be getting that replaced for sure.
    Something is odd here, I'm not sure why the other gear would be covered but not your jacket?
    It sounds like you're talking about an at fault accident, regardless of what gear you get out of the deal it's very likely your premiums will be increased.
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  6. #5
    Registered User Array doser's Avatar
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    I've found ICBC fair and easy to deal with. ask all the questions directly. take notes. get the adjuster to confirm your notes. yes, they have an incentive to pay out the least money, but they also have a legal duty to openly and honestly 'do right' by you. they certainly will tell you what effect (if any) your claim will have on your future rates. you seem concerned that adding the helmets, etc to the claim will have an effect that writing off the bike will not, and I'm not sure of the logic of that assumption. again, ask. ditto for why your jacket is perhaps not covered, but the passenger's is? as for the helmets, they have a 5 or 6 year lifetime anyway, so perhaps you should look upon this as just an opportunity to get a subsidized replacement.

    keep in mind that if your ICBC rates are going to increase significantly, you can switch your optional coverage to a private carrier. Beacon, for instance, usually is cheaper than ICBC, and you get one 'free' claim before your rates change. on the other hand, private carriers generally charge for a full year (without and option for seasonal cancellations), so 'do the math'...
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  7. #6
    Beer League Racer/Asshole Array SnoDragon's Avatar
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    $5k for a 12 year old bike? Regardless of kms on it, its still a 12 year old bike. They sold for about 10k new back then, so I think the craigslist ads are optimistic. Realistically the bike is probably worth 3.8k at most to an adjuster. As for the rest, ICBC has always been somewhat grey on what they'll cover. Sometimes yes, sometimes no. Depends on the adjuster you get.
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  8. #7
    Registered User Array SR50's Avatar
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    For a single car/bike accident, Doesn't your premium go up when you make any claims? how can you avoid premium increase when claiming the bike but not the gears/medical bills?

  9. #8
    Moderator Array Shovelhead's Avatar
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    Quote Originally Posted by SR50 View Post
    For a single car/bike accident, Doesn't your premium go up when you make any claims? how can you avoid premium increase when claiming the bike but not the gears/medical bills?
    Exactly,.. if you claim anything, then claim everything as it will not make any difference.
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  10. #9
    Registered User Array oilcountry's Avatar
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    Dime-a-dozen honda, you should be ecstatic to get 4k, as someone hinted at above^^.

    I'd cancel with ICBC asap once this is settled, if you can get Beacon or another private insurer to cover you. (may be tough with a recent accident, I have no idea).

    ICBC is great for car insurance only.

  11. #10
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    Quote Originally Posted by Shovelhead View Post
    Exactly,.. if you claim anything, then claim everything as it will not make any difference.
    If it costs your insurance company $2 or $250,000,000 makes no difference. The only way out of it is to pay out the claim yourself.

    Obviously if it is $2 more than deductible you do not use your insurance. After that it comes down to what your rates will go up compared to your loss. If there are any injuries, use your insurance.
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