Basic auto insurance rates could drop in B.C.; first time in 10 years
 

Basic auto insurance rates could drop in B.C.; first time in 10 years

May 31st 2010, The Canadian Press

VANCOUVER - For the first time in a decade, B.C. drivers could see a drop in their basic auto insurance rates this fall.

The Insurance Corp. of B.C. says it's applied to the B.C. Utilities Commission to reduce the rates by an average of 1.9 per cent beginning Nov. 1.

ICBC has not reduced basic rates in more than 10 years.

Company president Jon Schubert says the number of insurance claims has dropped and he's thanking motorists, saying their smart driving has helped the company control costs.

However, he also warns that while claims have fallen the cost of the average claim continues to rise.

It's not yet known what will happen to optional rates, which have already decreased 17 per cent over five years.

http://autos.sympatico.ca/automotive...me-in-10-years

ICBC............




makes me shake my head

1.9% reduction ... ballin'

i think he means .......lowballing has helped the company control costs...

icbc is a fail and a half just a bunch of money grubbers from the gov, their rates are a joke

insurance needs to be privatized. icbc can remain as the licensing authority.

My dad knew a guy who did some work for icbc (computer tech stuff). Apparently at their main office in North Van all they do is just sit on their asses behind computers. Their days consist of playing computer games and sleeping.

Would have been more of a reduction if Gordo hadn't stolen $700+ million from OUR pockets from them to pay for the Olympics....

The botton line for private comp. Would be profit, unlike icbc, they are not inclined to reduce rates as profits are increased. Private comp are not better for insurace, as they are not ansewrable to public, only shareholders.
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i dont remember getting that money =|

amen
what did u expect them to do, other than being crooks.

mmmm.... getting wrecked car fixed and resell them to make a profit under an ABC company ? Going onto Porn sites to check out these amature porns after lunch ? or going to a holiday trip for 3 weeks under company's pay ? or you mean they are crooks eh !

yeah right, they will never decrease insurance rates

^we'll see if it is actually going to

will we get refunds?