New ICBC Rates: Who Will Pay More?

[320icar]

So it sounds from every forum I’m on that about 80% of people are paying more. And these are people saying 10+ years with zero claim history.

So where does icbc get their numbers saying “56% of people arecseeing a decrease”

[68style]

^
I think they're being purposely misleading... many people's actual discount might be more, for example, mine went from 43% to 46% according to the multiplier, so I would fit into the category where ICBC is saying "Looks he's paying less!" but I'm actually paying more because the rates themselves are going up. I'm just paying less of the increase? Stupid.

It might look worse on here too cuz it's a younger crowd on here than general society.

[immorality]

Originally Posted by 68style

^
I think they're being purposely misleading... many people's actual discount might be more, for example, mine went from 43% to 46% according to the multiplier, so I would fit into the category where ICBC is saying "Looks he's paying less!" but I'm actually paying more because the rates themselves are going up. I'm just paying less of the increase? Stupid.

It might look worse on here too cuz it's a younger crowd on here than general society.

I just purchased a new (to me) car on Tuesday, so I had to insure under the new rules and I'm at the same rate. Unfortunately, I don't have an apples to apples comparison. 2008 CSX Type-S to '14 Fiesta ST and I'm paying maybe $50-100 less than I did on the Acura.

[Jmac]

Originally Posted by 320icar

So it sounds from every forum I’m on that about 80% of people are paying more. And these are people saying 10+ years with zero claim history.

So where does icbc get their numbers saying “56% of people arecseeing a decrease”

- Driving record only looks at past 2 years, doesn't look at tickets prior to June of this year
- Heavily favours years of driving experience
- Most people on this forum are under 40
- Average age of British Columbians is 42.3 (2016 Census)

If you take the 2016 Census figures and compare the 40-79 group (above average age) to the 15-39 group (below average age) and offset by a couple of years as it's 2019 now, it's:

17-41: 1,456,880 (40.5%)
42-81: 2,140,105 (59.5%)

I'm assuming most people over 80 are no longer driving and all age categories had the same mortality rate (obviously it'll be higher with age, so the numbers are probably closer than the 60/40 split shown above)

[l2_narain]

Originally Posted by jing

My Oct. 2017 accident happened in a work vehicle but is listed as a personal incident. WTF ICBC. Now my personal premiums have been affected further as a result.



Under the new changes, our insurance premium would cost more if we didn't have automatic emergency braking. Now the savings is negligible.

I got a work e-mail stating any accidents will follow you to the new policy to all unpaid, at-fault claims going back to March 1, 2017.

Then I got another e-mail clarifying what classes are there (personal rate classes, commercial rate classes, and rate classes that do not belong to a profile)

Commerical rate classes do not follow the driver's policy while the personal rate classes (car, minivan, pick-up truck) will follow the driver if there is an at-fault accident.

Now I got another e-mail stating all previous accidents from March 1, 2017, is voided but moving forward starting January 1st, 2020, any accident with a personal rate class vehicle will affect the driver's insurance policy.

Maybe talk to your employer and see what they say since they changed up the policy for us now.

Here are some links for reference:

https://www.icbc.com/partners/new-in...tion-guide.pdf
https://www.icbc.com/insurance/comme...-vehicles.aspx

[ryosukeSan]

A couple autoplan brokers said they couldn't give me an insurance quote on a prospective vehicle because the new system can only quote vehicles you already own. Anyone run into this?

[Koflach]

Originally Posted by ryosukeSan

A couple autoplan brokers said they couldn't give me an insurance quote on a prospective vehicle because the new system can only quote vehicles you already own. Anyone run into this?

They straight up lied to you. It's a lot of work to do (about 10 minutes) but it can be done. They need all the information you would normally require (DL number, listed drivers...) but would also need to use a fake VIN, make, model...

Essentially they would be generating a policy for you but they would need to cancel it at the end.

So yeah, they were just being lazy.

[JordanLee]

If a family member renewed policy on Aug 25 on old system, but qualifies for a higher discount and definite savings (autonomous braking etc), can they change to the new policy without changing/cancelling plates?

[Edison_Chen]

Originally Posted by JordanLee

If a family member renewed policy on Aug 25 on old system, but qualifies for a higher discount and definite savings (autonomous braking etc), can they change to the new policy without changing/cancelling plates?

I heard they can’t change it, unless it gets cancelled.. or wait until next year to renew.

[RiceIntegraRS]

Originally Posted by jing

My Oct. 2017 accident happened in a work vehicle but is listed as a personal incident. WTF ICBC. Now my personal premiums have been affected further as a result.



Under the new changes, our insurance premium would cost more if we didn't have automatic emergency braking. Now the savings is negligible.

What i dont get is the first claim at 2014 and the chargeable claim payment date is MAr. 21st 2017 which fits into ICBCs Crash History Scan Period. Can anyone explain this to me?

My driving rating is 0.713, 17 years experiences, 1 claim, and that 1 claim thats affecting me is from Jan. 18th 2017, but the chargeable claim payment date is Mar. 11th 2017..............

My wife is at 0.536, with 13 years experience, 0 claims for the record

[Fafine]

so apparently if its an accident 2k and under you have an extended grace period til aug 2020 to pay
https://www.citynews1130.com/2019/09...-their-record/

My insurance only increased 60$ for the year after adding one of my parents to my insurance.
Personal df was something like 0.595 and it got dropped to 0.577 by adding a parent.
They use my df at 75% and one parent's df at 25%

[TypeRNammer]

Quite interesting when I renewed insurance.

Under the new system, wifey's rate changed. Her past at fault claim is wiped out.

With a combined factor, we are 0.582 me being the primary operator.

That's the upside so far, downside is we need to wait one more year before we can add the 10 year driving experience discount.

[JSALES]

When does ICBC start counting your driving experience? Is it supposed to be from your Learners or N license?

[TypeRNammer]

Originally Posted by JSALES

When does ICBC start counting your driving experience? Is it supposed to be from your Learners or N license?

Your BC driving experience is calculated from the date you were first issued a BC non-learner licence

As per ICBC

[subordinate]

yep....... Accident free record 11 years I think, two speeding tickets, but those were over 6 years ago, and my insurance went up by 50 on the basic, and accordingly on the optional. Renewal for my exact coverages, 3 mill liability and comp goes up 150 on the renewal.

It sucks that the driving experience is retroactive, but I guess it makes sense, more money in their coffers.

[Messerschmitt]

Originally Posted by TypeRNammer

Your BC driving experience is calculated from the date you were first issued a BC non-learner licence

As per ICBC

What's the difference between BC driving experience and total experience. Someone has 17 years total xp with 2 bc driving experience and I have 12 total/bc. Their ratio is better than mine, so it seems the total XP matters? What's the point of "bc" experience?

(bc experience is retarded anyway. It's like we have different laws, driving on the left or have different physics vs the rest of the world)

[Harvey Specter]

Car insurance is expensive but forging yourself a licence plate with a Sharpie is just not worth the savings.

Coquitlam RCMP issued a warning Thursday after seizing a forged licence plate and towing a vehicle earlier this summer.

According to Cpl. Michael McLaughlin, a citizen called police in June to report a van as suspicious. Officers located the van parked in an undisclosed area of Port Coquitlam and found that it featured licence plates that had insurance stickers drawn in with a marker.

Officers seized the licence plates and the van was towed.

“We’re used to hearing creative excuses for people trying to get out of a ticket, but I’d love to have heard this driver’s explanation,” said McLaughlin. “This particular van was unoccupied when we found it and had multiple drivers associated to the vehicle. Had we stopped it while it was moving the driver would have faced some serious consequences.”

While the savings may seem tempting and a falsified decal seems harmless, driving with no insurance can net a $598 fine, altering or using fake plates or documents contravenes the Motor Vehicle Act and will land you in court, while forgery itself is a Criminal Code violation.

McLaughlin said the only surefire way to avoid getting pulled over is to insure a vehicle properly, display the necessary plates and obey the law.

[JDMDreams]

Saw this today, dunno how much my rates will go up by

https://vancouversun.com/news/local-...-structure/amp

[320icar]

My little cousin just graduated HS and got his N. going through some cancer shit so bought a pos ‘02 Hyundai to get to and from the hospital. Was quoted $2500 or so last month. Went to insure and was about $4500 a year under the new system.

I get it, new drivers are more risky, but Jesus Christ how are kids suppose to afford that

[Berzerker]

Mine went down $50 for the year. Monthly payments are sub $100 now on my Element with full coverage.

Berz out.

[JDMDreams]

I'm wondering if this huge increase in price will mean more support for private insurance

[Messerschmitt]

How you get affected by an accident shouldn't start at an arbitrary date (1 Mar 2017). Either have everybody from a clean slate with the new system. Make it so the same discount is to be had prior to the system (and further accidents affect people in the new way), or have ALL old accidents affect the new system.

Either way, I believe BC will now surpass ON by FAR. From what I can see from first hand examples, the "savings" for some are only 50-100$ a year, while increases for other are in the thousands.

[Gh0st]

Originally Posted by Messerschmitt

How you get affected by an accident shouldn't start at an arbitrary date (1 Mar 2017). Either have everybody from a clean slate with the new system. Make it so the same discount is to be had prior to the system (and further accidents affect people in the new way), or have ALL old accidents affect the new system.

Either way, I believe BC will now surpass ON by FAR. From what I can see from first hand examples, the "savings" for some are only 50-100$ a year, while increases for other are in the thousands.

wifes insurance went from 2100 to 2900 per year, 9 years driving no accidents. same coverage

i am renewing before Nov and will report back.

[Simplex123]

Originally Posted by Messerschmitt

Either way, I believe BC will now surpass ON by FAR. From what I can see from first hand examples, the "savings" for some are only 50-100$ a year, while increases for other are in the thousands.

surpass in what sense?

[OriginalJC]

I just renewed my insurance.
Was at max discount previously, am now paying $2400/yr vs $2000.
:-\