My ICBC insurance increase by 30%

[Soundy]

Originally Posted by und3f3at3d

My 2002 civic went from $110 a month to $126 a month, almost a 15% increase. Seems like ICBC is screwing everyone. I thought they had to get it approved before a board or something before they can do a rate increase?

Currently seeking a 5.5% increase for next year, don't think there was one last year.

But you have to remember that, one, that's an AVERAGE increase to the BASE rate, and two, there's a lot more to individual premiums than just the base rate. Optional coverages like comprehensive, collision, etc. can change based on changing risk factors from year to year.

[Zordon]

Originally Posted by PC69

Is ICBC trying to recover the difference by shifting the insurance cost to more expensive cars? I am just not buying there were suddenly more accidents and thefts with MB to justify a 30% increase in a year.

Think about who purchases these expensive cars such as MBs and Audis. Who can afford these cars? I'll give you a hint, lots of them drive in Richmond. That should also give you a hint of their driving skills.

[flagella]

BCUC regulates ICBC insurance premium.