Hit & Run Coverage & Vehicle Storage

Image Source: www.AutoTrader.com

When ICBC's new Enhanced Care coverage model launched May 1st, 2021, Hit and Run coverages changed too.

Hit and Run Coverages

Under Enhanced Care, Optional Hit and Run Coverage is available for purchase as a standalone own-damage coverage when Collision Coverage is not purchased.

If you are insured for Collision Coverage, it includes Hit and Run Coverage and a Hit and Run claim will trigger your Collision Coverage deductible (often $300 or $500). By contrast, if you are not insured for Collision Coverage, you must purchase the Optional Hit and Run standalone coverage to be covered for property damage to your vehicle caused by Hit and Run accidents; the deductible for Optional Hit and Run is higher than minimum Collision deductibles, sitting at $750.

It is worth noting that these coverages (both Collision and Optional Hit and Run) cover only property damage related to the accident, whereas bodily injury falls under the no-fault Enhanced Benefits provided by Basic Autoplan.

What if my vehicle has storage insurance?

If your vehicle is uninsured or insured only with an APV345: Storage Policy, firstly ensure that the vehicle is situated on private property (i.e.: a driveway or garage) with the owner's permission rather than on a public street. Not only is this a legal requirement, but it will help avoid property damage to your vehicle caused by third parties, including in Hit and Run events.

If you have purchased an Autoplan Storage Policy with ICBC, you may have elected to pay for Optional Hit and Run Coverage or for Collision Coverage (which can be helpful if your vehicle rolls downhill and causes property damage), both of which are available under the Storage Policy and are separate from Comprehensive Coverage.

Check your Storage Policy to verify which coverages you have selected - you can add or remove coverages at any time during your policy term.

Kind Regards,

The Homestead Insurance Team

(604) 888-5042