How to respond to offer from icbc if it doesn't cover cost of new car

ICBC will be calling to make an offer on vehicle. Car was only couple months old,

Asked 6 months ago in Richmond, British Columbia
Categories: ICBC

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Dana Quantz

Answer by Dana Quantz

Not VerifiedBritish Columbia lawyer

If you disagree with the market valuation of a vehicle, then you can disagree with ICBC. Internally, ICBC has a robust valuation program for vehicles to depreciate them to their market value. If you disagree with the valuation, then the first thing to request is a copy of the market valuation material relied upon by the adjuster.

If you are still not satisfied after reviewing their internal material, then you can do internet research to find the market value of the vehicle (by finding comparable selling vehicles) or hire an expert vehicle appraiser. The expert appraiser will cost about $500 to $1000 as of today's date, so it should be worth the fight. 

Posted 5 months ago

Please note that this is for informational purposes only and does not constitute legal advice to you. Legal advice pertaining to your particular situation can only be provided by a lawyer who has met with you to obtain all pertinent background information necessary to give you a formal legal opinion. For formal legal advice, hire a lawyer (many give a free first consultation). Contact Dana Quantz, or search the Lawyer Directory.

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