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As of May 1, 2021, ICBC's new Enhanced Care coverage is in effect, which has introduced significant changes to BC's auto insurance system. At CapriCMW, we're here to help you understand the changes and how they affect you.
INCOME REPLACEMENT BENEFITS UNDER ENHANCED CARE
All British Columbians who are unable to work due to injuries from a motor vehicle crash (including drivers, passengers, pedestrians and cyclists) can access income replacement benefits under Enhanced Care, regardless of who is at fault.
Those who are eligible will receive 90 per cent of their pre-collision net income up to a maximum of $100,000 gross income. Benefits can begin as early as eight days after the crash and will continue as long as the recipient is unable to work until the age of 65 (retirement income benefits will then come into effect). Income replacement through ICBC will be secondary to any benefits available through Employment Insurance as well as any employer or private disability plans. For those who begin working but earn less than before, ICBC will continue to supplement their earnings up to 90 per cent of pre-collision income.
OPTIONAL INCOME TOP-UP
Those earning more than $100,000 can choose to purchase ICBC's new optional Income Top-Up, which provides additional income replacement coverage, available in $10,000 increments up to $100,000. As per the benefits available under Enhanced Care, those eligible will receive 90 per cent of their pre-collision net income (up to the limit purchased). Proof of income is only required when making a claim. This option is available to any BC resident and anybody with an active ICBC policy without any other existing sources of income replacement coverage.
Your CapriCMW Insurance Advisor can also explain your options for accidental disability insurance through other providers.
Questions about ICBC? Find a CapriCMW office and get in touch with one of our experienced, knowledgeable Client Advisors.
Read more about ICBC Enhanced Care
Part 1: New Accident Benefits
Part 2: New Savings for Drivers
Part 3: Changes to Vehicle Damage Coverage
