Private Auto Insurance in Surrey
Your ICBC Basic Autoplan provides the basic coverage needed to legally drive a vehicle in BC. However, it's not the only protection available for vehicles. Drivers have the option to purchase private auto insurance in Surrey to insure their vehicle beyond the minimum coverage provided by ICBC's Basic Autoplan.
You can compare private optional coverage for collision, comprehensive coverage, higher liability limits, loss of use, and other benefits based on your individual needs. Private insurance also offers more flexibility about pricing (premiums) and deductible amounts.
Discuss your options in Surrey with Goldleaf Auto Insurance Brokers
Goldleaf Insurance Brokers | Life, Auto & Commercial Insurance
Phone: (604) 591-6200
Email: info@goldleafinsurance.ca
Address: 13049 76 Avenue #102,Surrey, BC, V3W 2V7
Hours:
What Is Private Auto Insurance
Private auto insurance is optional vehicle coverage that can be purchased from a private insurance provider rather than from ICBC.
You still need the ICBC Basic Autoplan on all vehicles registered and used for driving in BC, as it can't be substituted with a private plan. However, once you are covered with the mandatory protection, you can purchase additional protection from either ICBC or a private insurance provider through an insurance broker.
This offers greater flexibility in terms of how you choose to protect your car. A broker can review your insurance needs, provide you with information about the different types of available policies, and assist you in comparing coverage instead of assuming one option suits every driver.
ICBC Basic Insurance and Private Optional Insurance
BC has a mixed auto insurance system: ICBC provides the mandatory Basic Autoplan (including Enhanced Care coverage), while optional coverage is available from ICBC and eligible private insurance companies.
|
Type of insurance |
What it means |
|---|---|
|
ICBC Basic Autoplan |
Mandatory insurance required to operate a vehicle in British Columbia. Basic coverage includes $200,000 in Third-Party Liability, Enhanced Care injury protection, as well as other required protections. |
|
ICBC Optional insurance |
Additional auto insurance purchased through ICBC, such as Collision, Comprehensive, Extended Third-Party Liability, Loss of Use, and Rental Vehicle Coverage. |
|
Private optional insurance |
Eligible additional protection underwritten by a private insurance company. Coverage, deductibles, limits, pricing, and eligibility depend on the insurer. |
|
Insurance broker |
A licensed broker helps you understand your choices and compare available ICBC and private insurance options based on your vehicle and driving needs. |
The important difference is choice. You still need ICBC Basic insurance, but you don't automatically have to buy every optional coverage from ICBC.
Private Auto Insurance Coverage Options
Collision Coverage
Collision coverage helps pay for damage to your own vehicle after a crash when you are responsible. Without Collision coverage, a driver who is at fault can be responsible for the cost of repairing their own car. The deductible normally applies before the insurer pays the remaining eligible repair cost.
Comprehensive Coverage
Comprehensive coverage provides additional peace of mind and financial security for drivers who value having additional protection and whose vehicles are expensive to repair or replace. It protects against different types of damage, including theft, vandalism, fire, weather damage, falling objects, and other covered events, depending on the policy.
Extended Third-Party Liability
When you are legally responsible for covered damage, which allows another party to make a claim against you, the Extended Third-Party Liability increases your protection beyond the basic amount covered by ICBC Basic Autoplan. Your Surrey auto insurance broker can explain the liability limits available through each insurer and help you choose an amount that suits your needs.
Loss of Use
If you're involved in an accident that leads to car repairs, Loss of Use coverage helps with eligible transportation expenses after a covered claim. Depending on the policy, this protection can help pay for a rental vehicle, taxi costs, or public transit while your vehicle is being repaired.
Rental Vehicle Coverage
Rental vehicle coverage helps protect you when you rent a car. Coverage and limits vary between policies, so it's important to check what is included before relying on your personal auto insurance for a rental.
Roadside Assistance
Some private auto insurance packages include roadside assistance or related emergency benefits for situations where your vehicle breaks down on the road, your battery dies, you get a flat tire, you lock your keys inside the car, or you need towing after a mechanical issue or collision incident.
Accident Forgiveness
Accident forgiveness can help protect an eligible driver's rating or discount after a qualifying first at-fault accident. It's available through some private insurance products, and eligibility rules differ by insurer. The brokers at Goldleaf Insurance can confirm whether accident forgiveness is available to you.
Benefits of Private Auto Insurance
Private insurance gives BC drivers another option when choosing coverage beyond Basic Autoplan. But it’s not just about finding cheaper car insurance options. It’s about being able to compare what you are protected against at the prices you pay.
Depending on the insurer and your eligibility, benefits can include:
- The ability to compare private optional premiums with ICBC Optional insurance
- Competitive pricing options available for those who meet specific criteria
- Choices of different deductibles and coverage amounts
- Collision and Comprehensive protection
- Higher Third-Party Liability options
- Loss of Use protection and rental vehicle coverage
- Roadside Assistance provided by many insurance companies
- Accident Forgiveness offered under certain policies
- Potential savings for those purchasing multiple policies from the same insurance company
Who Should Consider Private Auto Insurance
A BC private auto insurance policy is worth reviewing if you are interested in getting Collision or Comprehensive coverage, want an increased level of liability protection, own two or more vehicles, or if you want to compare costs for optional ICBC insurance vs. private insurance company options.
If you currently have home insurance, you can also check with your current provider if discounts are available when combining policies for additional savings.
There is no single best choice for every person. Your vehicle value, driving history, coverage needs, deductible, usage, and budget all affect which policy suits you. This is why it's important to review options with a reliable insurance broker.
ICBC Optional Insurance vs. Private Auto Insurance
Both ICBC and private insurers provide optional protection, but the better choice depends on the actual policy and your needs rather than the company name.
|
ICBC Optional Insurance |
Private Optional Auto Insurance |
|---|---|
|
Purchased in addition to ICBC Basic Autoplan |
Purchased in addition to ICBC Basic Autoplan |
|
Coverage options include Collision, Comprehensive, Extended Third Party Liability, Loss of Use, and other products |
Similar types of protection can be available depending on the private insurer |
|
Premiums and deductibles follow ICBC's rating and product rules |
Premiums, deductibles, eligibility, and benefits depend on the private insurer |
|
Claims involving ICBC coverage are handled through ICBC |
Claims under private optional coverage are handled according to the private insurer's claims process |
|
Available to eligible ICBC customers based on product rules |
Private insurers apply their own eligibility and underwriting requirements |
Contact Goldleaf Insurance to compare ICBC optional insurance with available private auto insurance in Surrey.
How Much Does Private Auto Insurance Cost
There is no standard price for BC private auto insurance because the premium depends on the risk the insurer is taking on and the protection you choose.
Factors can include:
- Your driving and crash history
- Driving experience
- The vehicle you insure and its repair cost (higher-end cars, for example, often cost more to insure)
- How you use it (commuting to work, driving for business, occasional personal trips, or frequent work trips, for example)
- Your selected coverage
- Policy limits
- Deductibles (choosing a higher deductible often lowers the premium)
If you use your vehicle for business, tell your broker. Business usage can change your insurance needs and the type of auto insurance required.
Private Auto Insurance Discounts
Discounts vary between private insurance companies. Some offer multi-policy savings when you insure both your home and vehicle with them, while others offer discounts when a household has more than one eligible auto policy with the same insurer. Your driving record also matters when insurers calculate risk.
Comparing quotes lets you see the actual premium rather than guessing which provider has lower rates. To ensure you get the best quotes, contact us.
How Private Auto Insurance Claims Work
The claims process depends on the type of accident that happened and which part of your insurance applies.
For example, if an accident involving your ICBC Basic coverage happens, then you will deal with ICBC for the applicable portion of the claim. If damage is covered by a private optional policy, you need to contact that private insurer and follow their claims procedure. Some private auto insurers may request your ICBC claim number when submitting a claim.
Keep your policy information, vehicle details, photos, and information about the event available. Your broker can guide you in determining who to contact and which policy applies.
Private Auto Insurance Service Areas
Goldleaf serves drivers throughout Surrey and the Lower Mainland, including:
- Newton
- Fleetwood
- Guildford
- Cloverdale
- South Surrey
- Whalley
- Surrey City Centre
- And nearby communities
Whenever you need, our brokers can help you review your current car insurance and compare available private optional coverage.