Matsqui

My GLK delivery time is in Octotber. I am trying to do some research on insurance (Tires/Rim, "Total Loss", etc...) I am going to decline the Tires/Rim insurance, but I may consider the "Total Loss" (New Vehicle Replacement Plus) ICBC insurance. The MB dealer/insurance person said the cost is $1,700 and if car is "Totalled" within 5 years, I will get a brand new GLK (assuming 2015 GLK if it does happen in the last year of insurance, hope not - knock on wood). The yearly insurance will go down by $300 per year. So, at the end of 5 years, it will only cost me $200 if no claim. ($300 savings x 5 years = $1,500).

Has anyone bought this "Total Loss" (New Vehicle Replacement Plus) ICBC insurance ?
If so, does the above info seem correct ?
I am in Vancouver, Canada.

Thanks in advance.

Dreamka

was told from my insurance company,State Farm.
If my GLK will be totaled in 18 months then I can receive new one from State Farm insurance.

My another car also has been insured when I bought it 6 years ago.(just for 18 months)

It was charged about $5~7/month for the replacement. After 18 mths, this cost would be disappeared in TOTAL $/mth.

No idea for 5 years replacement program. Sorry~

p.s I pay $97.50/mth for GLK insurance. (age-36, no accident, my wife covered, another car and house insured in same company)
I hope that this could help you.

Ryan A.

aaah.. you're from the lower mainland too, eh? i, too, got full-cost replacement. i think every new car owner should have this. hell, i think this is what insurance should always be. i can't imagine having your new car totalled, and they only give you back a fraction of its actual cost and thus leaving you unable to repurchase the same car. i don't remember how much the insurance costs for me, but what you say might be right. as far as i see it, it's a small price to pay for such piece of mind--especially considering how bad some drivers are out there.

tommyrugby41

Hello i have that insurance and yes it works totaled out my 2008 gl550 and they gave me the selling price plus 25 percent to replace it

nuttydave127

I bought the same thing, its something separate that sits on top of your icbc insurance that is sold by a separate company

If its the same one i bought in vancouver from boundry mercedes it also offers $250 dollar deductible re-imbursement. This allows the insurance agent to bump up your deductible too $500,

So this will save you x amount of money over 5 years on your icbc premium somewhat offsetting the cost of the policy unless you already have 500 deductibles regardless ive yet to use it on my 07 benz however ive had the deductible re-imbursement done twice now

One time was my fault although icbc didnt know that and the other i had a hit and run when it snowed last year