| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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11-23-2016, 07:52 PM
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#26 | | Captain Happy Bubble is my Homeboy
Join Date: Feb 2013 Location: vancouver
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Wait. Remind me again what was ICBC annual net income?
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11-23-2016, 07:56 PM
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#27 | | Rs has made me the woman i am today!
Join Date: Apr 2007 Location: Langley
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Originally Posted by Manic!  A guy with a high end car may only drive 30 times a year where as a guy with a old Civic could be driving it every day. Why should the guy driving only 30 times a year pay way more than the guy driving 365 days a year. | It's called pleasure insurance, you pay less and can drive up to 6 days in a calendar month. If they want to insure it for everyday use and only drive it 30 times a year then they can pay more for being stupid.
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11-23-2016, 07:59 PM
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#28 | | NEWBIE ACCOUNT!
Join Date: Aug 2015
Posts: 17
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Originally Posted by MarkyMark It's called pleasure insurance, you pay less and can drive up to 6 days in a calendar month. If they want to insure it for everyday use and only drive it 30 times a year then they can pay more for being stupid. | You can drive every day on pleasure use only, you can only drive to/for work 6 times a month.
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11-23-2016, 08:14 PM
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#29 | | I contribute to threads in the offtopic forum
Join Date: Feb 2008 Location: North Van
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This is totally unfair, why should I pay more to insure a new GT3, if anything I should get discount for having a car that is savage AF.
It's like the government won't stop until they've made being rich suck as much as being poor sucks.
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Originally Posted by jasonturbo Follow me on Instagram @jasonturtle if you want to feel better about your life | | |
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11-23-2016, 08:32 PM
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#30 | | RS has made me the bitter person i am today!
Join Date: Feb 2013 Location: Vancouver
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Originally Posted by jasonturbo This is totally unfair, why should I pay more to insure a new GT3, if anything I should get discount for having a car that is savage AF.
It's like the government won't stop until they've made being rich suck as much as being poor sucks. | Cram it, you dirty Albertan.
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11-23-2016, 08:37 PM
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#31 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
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my amerifriends paying geico 50 USD/mo with roadside assistance sure beats $150+ ICBC rates...I say bring on the competition
plot twist: the drivers down in that state are significantly worse than Vancouver drivers. Just my own anecdotes though
insurance on my 11 year old Honda with equal years of squeaky clean records is 
Last edited by twitchyzero; 11-23-2016 at 08:44 PM.
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11-23-2016, 09:24 PM
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#32 | | Where's my RS Christmas Lobster?!
Join Date: Feb 2004 Location: vancouver
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The system is so broken as is. I know of a foreign kid has had multiple at fault accidents under his name in various cars. He then tried to insured his new lambo under his mom's name. Something went sideways and it didn't work out. Now, he insures his lambo using temp permits because it ends up being cheaper than getting normal insurance.
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11-23-2016, 09:39 PM
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#33 | | I contribute to threads in the offtopic forum
Join Date: Feb 2008 Location: North Van
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Originally Posted by meme405 Cram it, you dirty Albertan. | I'm moving back to North Van Dec 10th 
Feel free to have a celebration honouring my return.
__________________ Quote: |
Originally Posted by jasonturbo Follow me on Instagram @jasonturtle if you want to feel better about your life | | |
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11-23-2016, 09:39 PM
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#34 | | I'm invisible
Join Date: Jun 2002 Location: 604 Vancouver
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Originally Posted by Traum Is that your reading of today's announcement, dabbin? Cuz as I read up on the various news report for it, my interpretation is quite different from yours, and that was how I came to my concerns above. From the way I am reading the press announcement, ICBC is entirely getting out of the insurance game for $150k+ vehicles. No optional insurance. No basic coverage. No nothing. They are letting the private sector handle that, and they are preparing the legislations for it.
So if they really get out of the basic insurance game for the $150k cars, that would be a game changer. But if they continue to offer basic liability insurance to them, then it seems like a pretty dumb plan. They should have just up the rates for those $150k+ cars to the point where they (ICBC) can break even, or maybe even make some profit. If the province is only dropping the optional insurance for those $150k+ cars, it is pretty much handing the potential cash cow over to the private insurance sector. | Currently from what I heard, these high end vehicles for own damage are rated differently from the regular vehicles. These are considered rate group 98 vehicles, and in order to buy own damage (collision and comp), the customers have to complete an application form for ICBC to determine what premiums they charge for own damage. Customers can still buy extra third party liability without the application.
Currently ICBC distributes the license (license plates) and insurance (basic and or optional). When a normal person wants to insure/license a vehicle, they are issued a license plate and there is basic insurance that comes with it; as per ICBC.com there are 5 components that comes with basic insurance: basic third party liability, accident benefits, under inside motorists protection, hit and run and reverse liability"
I would say it would be pretty hard if some other provincial body distributed plates for these exotic vehicles. It seems like what's hurting them is the own damage portion for these types of vehicles. Like what pets have said, how do they charge the correct premium for these vehicles. I would guess some new drivers would pay around $10,000+ premiums for the own damage.
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11-23-2016, 09:46 PM
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#35 | | I WANT MY 10 YEARS BACK FROM RS.net!
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so ICBC won't insure a car worth $150k+?
What if you own an Acura NSX or Porsche 911 Turbo?
Are you allowed to buy your basic insurance with private insurer?
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11-23-2016, 10:12 PM
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#36 | | To me, there is the Internet and there is RS
Join Date: Apr 2007 Location: Okanagan
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Originally Posted by Manic! A guy with a high end car may only drive 30 times a year where as a guy with a old Civic could be driving it every day. Why should the guy driving only 30 times a year pay way more than the guy driving 365 days a year. | Because according to the stats mentioned here they crash a heck of a lot during those 30 days. Maybe if rich idiots stopped buying teenagers Lambos we wouldn't have these problems.
__________________ 1991 Toyota Celica GTFour RC // 2007 Toyota Rav4 V6 // 2000 Jeep Grand Cherokee
1992 Toyota Celica GT-S ["sold"] \\ 2007 Jeep Grand Cherokee CRD [sold] \\ 2000 Jeep Cherokee [sold] \\ 1997 Honda Prelude [sold] \\ 1992 Jeep YJ [sold/crashed] \\ 1987 Mazda RX-7 [sold] \\ 1987 Toyota Celica GT-S [crushed] Quote:
Originally Posted by maksimizer half those dudes are hotter than ,my GF. | Quote:
Originally Posted by RevYouUp reading this thread is like waiting for goku to charge up a spirit bomb in dragon ball z | Quote:
Originally Posted by Good_KarMa OH thank god. I thought u had sex with my wife. :cry: | | |
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11-23-2016, 11:07 PM
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#37 | | I bringith the lowerballerith
Join Date: Dec 2011 Location: Vancouver
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I wouldn't mind a rate hike as long as the max discount level goes higher than ~43% - so it encourages better driving.
I'd love to end up getting something along the lines of 60-70% off yearly insurance
Last edited by ForeverYours; 11-23-2016 at 11:18 PM.
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11-23-2016, 11:17 PM
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#38 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
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Lol, my Lambo is been delivered in 2 weeks and I was waiting for ICBC's underwriter to get back to my agent with a quote but not sure what ICBC is going to quote me now based on these changes.
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11-23-2016, 11:22 PM
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#39 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
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^doubt it'll kick in until spring the earliest
what's the magic number for luxury tax? $65k+? Why not make it a rule like that for any cars < 5 years that had the luxury tax. I guess many SUVs and entry-levels benz/bimmers will be inclusive of that bracket and the owners already mad they have to pay premium gas and maintenance is spendier than a corolla/civic  | |
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11-24-2016, 12:07 AM
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#40 | | I bringith the lowerballerith
Join Date: Dec 2003 Location: 604
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Originally Posted by Hondaracer Raping our Asses? I pay $1650 a year for a 16 year old truck with 0 coverage outside of 3M liability..
thats with 44% discount, 10 years safe driving, yadayadayada
my ass is feeling pretty sore as is with ICBC.. | My ass is more sore than yours lol.
1990 Honda civic hatch with 340,000 kms. zero coverage except 3 Million liability. Max out discount and I still pay $1200 a year.
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11-24-2016, 12:14 AM
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#41 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
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is there sentimental value or or is it extensively modified?
to me there's no reason to keep a car long term worth less than the annual operating costs.
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11-24-2016, 12:17 AM
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#42 | | y'all better put some respeck on my name
Join Date: Dec 2002 Location: Vancouver
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Election is right around the corner so when you need votes just wage a war against the rich...the same "rich" people who have been funding your party and bringing a steady flow of foreign capital so your leader can go around bragging about a surplus. Like the saying goes, don't bite the hand that feeds you.
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11-24-2016, 12:20 AM
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#43 | | I bringith the lowerballerith
Join Date: Dec 2003 Location: 604
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its a cheap beater and its very reliable. cost nothing really in terms of maintenance.
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11-24-2016, 04:13 AM
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#44 | | RS.net, helping ugly ppl have sex since 2001
Join Date: Feb 2002 Location: Vancouver
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Fuck. We need trump! (Look totally joking here) haha that shit pisses me off though wow.
Would mandatory dash cams be do able? Also increase the fines/sentences to fraud help avoid the ass hats from ruining it for everyone? There goes the hobby of automotive fun. May have to build a dedicated track car.
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Last edited by hud 91gt; 11-24-2016 at 04:19 AM.
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11-24-2016, 04:58 AM
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#45 | | I *heart* Revscene.net very Muchie
Join Date: Jul 2007 Location: BC
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Originally Posted by twitchyzero is there sentimental value or or is it extensively modified?
to me there's no reason to keep a car long term worth less than the annual operating costs. | What other cheaper alternative do you suggest? It absolutely makes sense to keep an older car as long ss it runs reliabily, and that applies to many of Japanese cars.
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11-24-2016, 07:18 AM
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#46 | | I answer every Emotion with an emoticon
Join Date: Feb 2005 Location: somewhere
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The rates should effect people who never had accidents.. I would say, premium should effect people who have accidents and/or who have speeding tickets....
Just not fair to penalize everyone
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11-24-2016, 07:44 AM
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#47 | | WOAH! i think Vtec just kicked in!
Join Date: Dec 2003 Location: abc
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Originally Posted by ForeverYours I wouldn't mind a rate hike as long as the max discount level goes higher than ~43% - so it encourages better driving.
I'd love to end up getting something along the lines of 60-70% off yearly insurance | Yep, every year earning another level on the ICBC discount scale, when the net cost of your insurance is still going up
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11-24-2016, 08:34 AM
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#48 | | I *heart* Revscene.net very Muchie
Join Date: May 2001 Location: Vancouver
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So they're saying the rate is not reflective of the risk and owners of lower priced vehicles are essentially subsidizing the cost of optional insurance on high priced vehicles.
What really concerns me as an average Joe is whether this methodology applies to other rate categories. By insuring my $29,000 car am I subsidizing the cost for owners of a $60,000 car? I hope not.
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11-24-2016, 09:26 AM
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#49 | | Orgasm Donor & Alatar owned my ass twice!
Join Date: Aug 2007 Location: Paradise, BC
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The point was not lost on me when I initially read up on the news, but a friend reminded me that the real important point from yesterday's announcement was the looming rate hike -- to the tune of a cumulative 42% increase over the next 5 years as projected by ICBC's worst case sceneario -- and that was the subject heading for the thread as well.
Is the worst case scenario going to happen? I dunno. But given ICBC track record, how the provincial government has been siphoning massive funds from them, and how even the best case scenario is still projecting a cumulative 16% rate increase, the outlook does not look good.
We need to do something to urge the government / ICBC to properly manage the situation, but I don't know what that thing is.
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11-24-2016, 11:55 AM
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#50 | | Diagonally parked in a parallel universe
Join Date: Jul 2012 Location: Burnaby
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I feel like ever since we've been given the option to go to private insurance for our optional coverage, ICBC's reponse has been to increase basic rates year after year. Their way of getting our money one way or another.
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