I'm getting a nice $200 rebate too, and the next renewal looks to be $400+ cheaper.

I wonder what the ICBC naysayers will still say now...?

[edit] OK, I take this above comment back -- apparently, a number of friends who are a bit younger than I am -- probably in the early to mid 30's -- are seeing that their projected insurance rates for next year will be going up by $100 - $150 when they renew. At least one of them seems to have some at-fault crash history.

So I guess some people are still going to bitch after all lol~

As of now my current premiums are $2889 which includes 2 mil liability $1000 collision $300 comprehensive, to and from work more than 15km

But after the renewal it will be $1959

Is this real life?

All according to the icbc insurance estimator

according to the estimator, im getting around $600 credit for May 2021 to my renewal in Jan 2022, and my next renewal will be almost $1000 lower.

Hope they finally give us the ability to print out day permits from our home. Now that I have a car that's only for weekends/track days, it would be nice to be able to do that

might be cheaper to be able to just move the plates from home.

have 1 plate, pay 28 bucks to move it. Literally just choose which car you want to apply it to on a drop down menu from which cars you have registered.

That's my dream (besides just making a plate totally transferable to any vehicle you have registered)

then i gotta buy at least $200 worth of quick release plate mount lol

why not just pay the plate fee then keep it on the vehicle, load up the TOP in an online portal, then whenever law enforcement needs to check if valid insurance before pulling you over they can just scan/run it to find out

Remember, this is icbc...

My estimate trended way down from 3800 to 2300. It's now cheaper than BCAA optional.

doesnt the reduce rates only apply to basic or across the board with 3PL collision comp too?

So should you cancel your insurance then redo in may since it's cheaper?

You would still get a rebate if you keep your current insurance

For example, my renewal is in the middle of May and I get a tiny bit back, around 30 ish dollars

My other car's renewal is in September and the rebate is a out a few hundred bucks

According to the estimator mine will go from $2719 to $1820 when I renew in June. A refund of $89 as well.

I'll be quite happy if this actually happens but for now I'm going to remain sceptical lol.

I might have missed it, but why the price drop in the rates? What are they up too!

Yay, my 2004 Lexus IS300 is dropping from $1883 down to $1317

Even my collector plates MR2 is going from $495 down to $397 if I get the full coverages from ICBC...

Across the board, in fact most of it is on the 3PL and collision/comp... this was mine:

Basic
$1,130 old
$954 new
-$176 difference

Optional
$692 old
$302 new
-$390 difference

Vehicle licence fee
$61 old
$61 new
$0 difference

Total
$1,883
$1,317
-$566 difference

The premium reductions are likely the results the changes ICBC has implemented in phases since Sept 2019. Recall that the old system used to allow a filing / sueing period of up to 2 years after accident, so the May 2021 date more or less corresponds to the time when the last of those old lawsuits run out of time to be filed. AG Eby has previously indicated that litigations were the single biggest reasons why ICBC was losing so much money. With the $5k minor injury claims cap and the disallowing of lawsuits for minor injuries, ICBC is probably saving a gigantic sum of money.

I'm certain the pandemic and the dramatic reduction in vehicular traffic has also resulted in some pretty major savings for the crwon corp as well.

ICBC has new repair guidelines as of May 1, 2021 which is a factor of why your rates are dropping.

The major thing to note is depreciation on parts regardless if it's an at fault or faultless claim. Depreciation applies for anything that is a wearable item ei radiator, tires, battery... If you're in a not at fault claim and your radiator got damaged, ICBC may put a depreciation on it based on age of Vehicle or how new the part is. And that is your responsibility to pay - same applies if your tires are damaged by someone and they are at 60% tread depth, you will be responsible for 40% of the cost to replace a tire.

Also I don't believe hit & run is covered under basic anymore, it is an optional coverage or if you have collision.

FYI, I dont know who you do your insurance with, but Allwest will deliver to your house the papers.

So you can call them up, and tell them what you need and they will drop it off to you. They are also open later than other insurance places, cause they service a lot of dealers when people are buying cars.

Usually I can call them at 6-8pm and tell them I need a day permit for the next day and I have the permit in my hands that same evening.

Hey KDMofo,

Would you care to include a link on where you obtained this information from? Of course it looks legit. I just wanted to take a look at the source to see if there is anything else important from there.

Google can't seem to find the source of the article that you've quoted, and I'm kind of surprised.

I think that’s total bullshit if you’re totally not at fault, you shouldn’t have to pay a penny. But let’s say you do pay a grand or two in a not-fault accident you could just take the guilty party to small claims court I suppose.

I got very lightly briefed on it cause I write claims for ICBC but you can find more information regarding collision repairs on their partners page. There's thing you wont have access too but the BVDC info should be available for anyone to see.
Search for it on here.
https://www.icbc.com/partners/Pages/default.aspx

If Icbc puts deprecation on your radiator/condenser etc you should fight that all day long. Tires/batteries not much you can do but other components they can’t prove the wear

^^ exactly. Who cares if my radiator is old? It wasn’t leaking, it wasn’t bent, it functionally worked just fine. Don’t you dare make me pay 50%

they wouldn't suddenly start giving 20% away without a catch

so now they'll punish drivers who didn't even cause the accident...

what happens if you make claims on vehicles that have appreciated?

Thanks for the recco! I don't have any loyalty to the insurance brokerages, I just go to whoever is closest and open haha.

https://allwestinsurance.com/insurance/auto/door2door/

Crazy that they have better delivery coverage than UberEats LOL