What happens now? ICBC

[_TiDy_]

Originally Posted by optiblue

OUCH! I just deleted my entire rant against you since you're already going to get ass raped in premiums for the next 16 years (at 5% discount / year). Sad to say, but this is going to be an expensive life lesson. The only thing I can say that might comfort you is that I have a friend that had a 100% at fault accident, and after the additional premiums, they've resorted to public transit. Your driving days for the time being could be at an end unless you can still afford it.

Actually, if he does not get into another accident in the next three years, his premiums will be reverted back to the level he was at before the accident, it will not take 16 years to back back to normal. On a side note, the fact that ICBC let this slide with just a fine is extremely lucky in itself, they had full rights to walk away from this since you broke a condition in the policy. Hopefully lesson learned and continue life i guess.

[ruthless]

the premium decreases by 10% for every good year of driving so my 40% premium should be gone in 4 but then i get 5% discount per year as well...currently got 15%

but yes i definitely learned the lesson the hard way

[ruthless]

Originally Posted by _TiDy_

Actually, if he does not get into another accident in the next three years, his premiums will be reverted back to the level he was at before the accident, it will not take 16 years to back back to normal. On a side note, the fact that ICBC let this slide with just a fine is extremely lucky in itself, they had full rights to walk away from this since you broke a condition in the policy. Hopefully lesson learned and continue life i guess.

so your friends going to be taking public transit all his life?(nothing wrong with that btw)...since the premium is only going to decrease if he has insurance on a vehicle

[dai3yuen]

Originally Posted by ruthless

...since the premium is only going to decrease if he has insurance on a vehicle

Wrong....you will continue to get a discount even if you do not have a vehicle insured.

It does not specifically say this on icbc.com, but it says it in a round-about-way:

http://www.icbc.com/autoplan/costs/claim-record/CRS

For each year that you do not make an at-fault claim, you will move down the Claim-Rated Scale. Once you are at level -1, you will start to receive a 5 per cent discount on your premium. Every claim-free year after this will increase this discount by 5 per cent until you reach 43 per cent.

[_TiDy_]

Originally Posted by ruthless

the premium decreases by 10% for every good year of driving so my 40% premium should be gone in 4 but then i get 5% discount per year as well...currently got 15%

but yes i definitely learned the lesson the hard way

You will be back to normal in 3 years. Quoted from ICBC site "You can regain your discount level even after a crash. After your claim, you will move one level down the scale with each claim-free year of driving. In just three consecutive years of claim-free driving you return to your pre-claim level on the scale if you had a discount, or to the base rate if you were in a surcharge position."

http://www.icbc.com/cs/Satellite?blo...&ssbinary=true

[Greenstoner]

Originally Posted by FerrariEnzo

ouch.,. yea NEVER insure a car under parents name...

i drove my moms car and got into an accident.. total loss.. the engine got fire and shit..
my mom lost her GOLD star status... felt really bad.. this was 12 years ago.. i dont think it was on my record.. maybe they changed their policy or something..

im 1 year away from my Gold Star Status so im happy.. i should be down to around $100 per month..

maximum discount is 43%, i thought gold star or road star are all gonna be the same discount rate ?? no ?

[Szeto]

yeah, max is 43% and then you get one % off optional (or additional?) coverage

if he's got money then he can settle private i guess

[ruthless]

[QUOTE=dai3yuen;7033618]Wrong....you will continue to get a discount even if you do not have a vehicle insured.

It does not specifically say this on icbc.com, but it says it in a round-about-way:


[QUOTE=_TiDy_;7033857]You will be back to normal in 3 years. Quoted from ICBC site "You can regain your discount level even after a crash. After your claim, you will move one level down the scale with each claim-free year of driving. In just three consecutive years of claim-free driving you return to your pre-claim level on the scale if you had a discount, or to the base rate if you were in a surcharge position."

it says you will move down with each claim free year of driving so if he doesn't drive(no insurance) you still get 10% off the surcharge per year????

[gdoh]

pretty sure you have to have insurance under your name for a year for it to go down...y would they let you have no insurance and have you rates go down makes no sense

[ruthless]

Originally Posted by gdoh

pretty sure you have to have insurance under your name for a year for it to go down...y would they let you have no insurance and have you rates go down makes no sense

ouch first fail

thats exactly what im saying but dai3yuen says no

[gdoh]

lol and theres your second one read it again

each claim-free year of driving = driving for full year without a claim

[ruthless]

Originally Posted by gdoh

lol and theres your second one read it again

each claim-free year of driving = driving for full year without a claim

yea i agree with you, that's what i was saying, the question i posed a few posts up was rhetorical

[dai3yuen]

Originally Posted by gdoh

pretty sure you have to have insurance under your name for a year for it to go down...y would they let you have no insurance and have you rates go down makes no sense

Just because you do not have a vehicle insured in your name does not mean you are not driving.

[ruthless]

Originally Posted by dai3yuen

Just because you do not have a vehicle insured in your name does not mean you are not driving.

how would they(ICBC) know that you are driving when no insurance/vehicle is under your name? (not trying to argue btw)

[dai3yuen]

Originally Posted by ruthless

how would they(ICBC) know that you are driving when no insurance/vehicle is under your name? (not trying to argue btw)

They don't. They give you the benefit of the doubt that you are driving.

[umpadupa]

Originally Posted by ruthless

how would they(ICBC) know that you are driving when no insurance/vehicle is under your name? (not trying to argue btw)

cuz when u drive some1 elses vehicle and get into an accident... u gain levels again LOL

also we can look into ur insurance policy.. so we know if u took another policy out. lots of ppl try 2 cheat icbc by claims dumping, (ie>getting a moto and get the most basic insurnace on it.. then insure their actual vehicle. cuz the claims can only attatch to one vehicle at a time) its illegal btw...

[ruthless]

Originally Posted by umpadupa

cuz when u drive some1 elses vehicle and get into an accident... u gain levels again LOL

also we can look into ur insurance policy.. so we know if u took another policy out. lots of ppl try 2 cheat icbc by claims dumping, (ie>getting a moto and get the most basic insurnace on it.. then insure their actual vehicle. cuz the claims can only attatch to one vehicle at a time) its illegal btw...

do you work for icbc?

cuz someone suggested that I do that..insure an old beater w/ basic insurance, then insure my normal vehicle so the 40% stays on the beater and doesnt affect the normal car

do they consider this fraud? like whats the actual term for doing this

thnx

[dai3yuen]

Originally Posted by ruthless

do you work for icbc?

cuz someone suggested that I do that..insure an old beater w/ basic insurance, then insure my normal vehicle so the 40% stays on the beater and doesnt affect the normal car

do they consider this fraud? like whats the actual term for doing this

thnx

This used to work many years ago, but it does not work anymore. ICBC closed to the loophole a while ago, and yes, this is considered Insurance Fraud.

If you were to get into an accident, you would be looking at ICBC voiding your Insurance coverage, meaning that any damages (including injuries) as a result of said accident, would be coming out of your own pocket.

Plus there have been instances where ICBC has pursued civil litigation against people who have defrauded them.

Some interesting news releases on ICBC's website:

Lessons learned from ICBC's 2009 fraud files
The high cost of lying is the lesson for March's Fraud Prevention Month

A driver crashes his car then claims it was stolen; an owner sets his car on fire then gets a bill from the Fire Department; and drivers, old and new, pay the price for not telling the truth. The high cost of lying is the lesson learned from these stories from ICBC's 2009 fraud files, which are released to coincide with March's Canadian Fraud Prevention Month.

*

"It was stolen before the crash"

One owner called police to report a stolen car - two hours after it was involved in a crash. He told police it had been stolen two days earlier but he just now noticed it was missing. His story fell apart when ICBC's Special Investigation Unit (SIU) was able to confirm that he called a taxi minutes after the crash from a nearby location. He ended up pleading guilty to driving while disqualified, hit and run, public mischief and fraud and was ordered to pay almost $50,000 for the cost of damages.

Another driver totalled his boss's truck then lied to police about it being stolen. End result: he was fined $4,000 because, as the judge said: "When someone abuses the insurance system, they are effectively defrauding their fellow citizens."
*

"It was stolen before the fire"

Two hours after his car was destroyed by fire, the owner called police to report it stolen. Evidence presented in court led to a confession that he had set fire to the car himself to collect the insurance. He was sentenced to 12 months probation, 100 hours of community service and was ordered to pay the Fire Department almost $1,000 to cover part of the cost of putting out the fire.
*

"Yes, I'm the principal operator"

A recent crash teaches us all a lesson about the importance of correctly answering the annual insurance renewal question: "Are you the principal operator?" Falsely declaring someone else as the principal operator saved one owner a few hundred dollars in premiums on a brand new vehicle, but it was totalled in a crash and now the owner is out of pocket about $50,000. Please check your policy to ensure you don't make the same costly mistake.
*

"A learner learns the hard way"

A young driver learned an expensive lesson about the perils of ignoring the requirements of the Graduated Licensing Program and then lying about it. Driving without an experienced driver over 25 in the car is not allowed for "Learners", but that was the case when the young driver crashed her father's car. To make matters worse, she lied about being alone. Witnesses told a different story which, resulted in a court-ordered payment of $26,000.

Insurance fraud is not a victimless crime; it costs each of ICBC's 3.1 million customers about $100 to $150 per year - that's why ICBC invests upwards of $8 million in fraud prevention each year.

ICBC investigated more than 2,800 cases of alleged fraud in 2009. ICBC takes all allegations seriously and follows up on all tips and information. The public can help by reporting suspicious, exaggerated or fraudulent claims to ICBC's fraud tips line at 604-661-6844 or 1-800-661-6844, toll free from anywhere in the province. Tip information is confidential and callers can remain anonymous.

http://www.icbc.com/about-ICBC/news_...ses/mar2010#2p

[ruthless]

thanks for the info man...fuckn insurance agent was going to get me fucked over again

thnx

[Sw0op]

Originally Posted by gdoh

pretty sure you have to have insurance under your name for a year for it to go down...y would they let you have no insurance and have you rates go down makes no sense

this is not true...you dont need to have insurance under your name for it to go down

[FerrariEnzo]

Originally Posted by Greenstoner

maximum discount is 43%, i thought gold star or road star are all gonna be the same discount rate ?? no ?

yea your right.. haha 43% is max.. haha damn i always got the impression it gives you more discount


What is the Gold star for anyways? i looked on ICBC website, all it states is that you move 3 steps up the rate scale vs 4 steps... sounds pretty lame for such a nice title

[umpadupa]

Originally Posted by FerrariEnzo

yea your right.. haha 43% is max.. haha damn i always got the impression it gives you more discount


What is the Gold star for anyways? i looked on ICBC website, all it states is that you move 3 steps up the rate scale vs 4 steps... sounds pretty lame for such a nice title

actually u get extra discount on the side...
43% off is the basic car insurance
there are also extra discounts for ur options.. thats y a level -20(43%) is cheaper then a -9(43%) if u get everything exactly the same.

and yes it is fraud thanks for clarifying i was tryin 2 multi task and didnt make it clear ( and if ur agent tells u that, please switch agents, u dont know what else they could of screwed u over in)