Brokers with clients who think comprehensive auto insurance is entirely optional should share this cautionary tale.
A Kamloops man got the shock of his life after he was told he had to foot an exorbitant bill to recover his stolen pick-up - a vehicle he had previously chosen not to secure comprehensive insurance on.
Will Iblings’ 1996 GMC was worth about $1,300, and he immediately declined an offer for comprehensive auto insurance on the vehicle.
“Since the value on it was so low, I figured if something did happen to it, I’d be able to replace it fairly easily,” Iblings told
CBC News in a feature.
Comprehensive insurance, however, would have covered for the theft of his truck, as well as the other recovery issues he ran into.
Iblings’ truck was stolen in May, which he reported to the authorities. He eventually figured that he would have to absorb the loss himself. He also thought that if he had reported the truck stolen, it would no longer be his responsibility. Months passed by without word of his vehicle.
“To be honest, especially after this long, I kind of gave up hope as far as finding it or hearing anything,” he commented.
Last Friday, Iblings was informed out of the blue by Jack’s Towing, a towing company in Abbotsford, B.C. (over 280 kilometers from his residence), that his truck had been found at the bottom of a 450-meter ravine on Sumas Mountain. The towing company also notified him that he was going to have to pay at least $2,000 to haul the damaged truck out by Monday.
Abbotsford police confirmed that they had found the truck and reached out to the towing company. The officers also added that the truck could not stay where it was, reasoning that it could be an environmental hazard.
In a written statement, the Insurance Corp. of BC (ICBC) refuted Iblings’ belief that by reporting his vehicle stolen, he no longer has any responsibility over it.
“With no insurance coverage, the vehicle owner is responsible for towing costs as the vehicle is the property of the owner,” the insurer said.
A spokesperson for the insurer explained that the issue at hand has nothing to do with ICBC, pointing out that if comprehensive insurance was not purchased, there is no claim to be made.
Related stories:
Insurance Bureau: Auto theft in Canada still on the up
IBC helps in recovery of stolen vehicles valued at $3.4 million
