Another B.C. strata says ICBC won’t cover full cost of vehicle damage to its property | 24CA News
Another B.C. strata company is coming ahead with complaints about ICBC’s protection after its property was broken by an insured driver.
The criticism follows considerations from residents of a White Rock rental constructing who’re combating the general public insurer over full compensation of injury brought on by a driver throughout a snowstorm in December.
Residents of that property say ICBC gained’t cowl $6,000 of the restore prices as a result of its calculations included depreciation on the 35-year-old bulding.
Residents in a Maple Ridge townhouse advanced inform Global News they’ve had the same expertise — not as soon as, however twice.
The first case occurred in 2021, when a driver smashed into the advanced’s concrete signal, house owner Brian Smith defined.
“We dealt directly with ICBC, and it was really a nightmare to get a settlement from them. We ended up getting a smaller sign because they didn’t want to cover the whole quoted price of the same sign,” he mentioned.
In January one other driver crashed into strata property, this time the advanced’s gate.
After the irritating expertise going by ICBC, the strata company went on to its personal insurer first this time, Smith mentioned.
That’s left them on the hook for a $10,000 deductible which they now hope to recoup by ICBC. Just like within the White Rock constructing’s case, Smith mentioned ICBC is making an attempt to say depreciation on the property.
“It’s frustrating,” he mentioned.
“We don’t think we should have to pay out of pocket for something that was damaged by a vehicle. It wasn’t our fault.”
BC Liberal housing critic Karin Kirkpatrick mentioned ICBC ought to be overlaying the complete price of repairs.
“They’ve got quotes from different contractors about what that damage is going to cost, and that is what they should be basing the reimbursement on — the actual cost of the repair to bring it up to what it was prior to the accident, not from what it was 40 years ago,” she mentioned.
“It shouldn’t go to the strata corporation insurance. The deductible from the strata corporation insurance is often going to be in excess of what the damage is.”
ICBC wouldn’t comply with an in-person interview, and issued an announcement to Global News.
“We’re legally responsible, on behalf of the B.C.-insured motorist who caused the damage to the property, for restoring the property to the condition it was prior to the loss (not betterment of the property),” the insurer mentioned.
“We base property damage settlements on the actual cash value, which includes depreciation. This is standard industry practice for auto insurers.”
It’s a solution that doesn’t fulfill Smith, whose strata is now coping with two insurance coverage firms over one thing it had nothing to do with.
“I don’t know why it should cost us any money,” he mentioned.
© 2023 Global News, a division of Corus Entertainment Inc.
