Why do BC Drivers Need Third Party Liability Coverage?
The ICBC Website invites BC vehicle owners to purchase up to $5m “Extended Third Party Liability Coverage”. Why? First, what is “Third Party Liability”? An insurance contract has 2 parties. You, the purchaser, who becomes the “First Party” or the “insured”. The insurance company, ICBC, is the second party. As the insured, you have the … Continued