Your car insurance is a contract between you and ICBC. That contract comes with a number of conditions that you should know about. Additionally, your optional insurance, such as your collision or comprehensive coverage, form separate contracts with ICBC that also contain separate conditions.
ICBC Can Deny Insurance Coverage
When you get in a motor vehicle accident, ICBC may investigate you and try to deny you insurance coverage. If you are denied coverage, then you will be liable for third-party damages. This means that you have to pay for the damage to any other cars and property and any personal injury claims. These damages are generally very large.
Also, if you are not covered, ICBC will not pay your claims. This means you will not be paid out for your vehicle nor compensated for your injuries.
If ICBC investigates and determines you have breached your conditions, then ICBC will come after you for everything they paid out in the accident. This can result in massive debt to ICBC and substantial consequences to your driver’s licence and insurance.