i'm under 30 and icbc is higher cost

when you have clean record, having options is never a bad thing

Hope this N driver C-Lai that did this to me on Sunday night while I was over in Richmond pays more. Apparently a 30' wide road isn't enough to back her X5 out of her driveway.

http://www3.telus.net/bryster/20181202_201046.jpg

Couldn't even get mad because at least she knocked on the door and admitted it instead of running.

At least the ICBC process is pretty efficient. Estimate's already been done and I'm booked in for repair in a couple weeks. Is private insurance just as good in that regard?

^
Slightly off-topic, but are Mazda3's of that era still getting booted by junkies in that same general area for the door unlock issue they used to have?

I don't have experience with private insurer but I will say that when clearly not at fault and if ICBC can't find a way to pin blame on you they are pretty good.

I was rear ended in June, a car ran into the car behind me at a light and pushed it into me. There wasn't a lot of damage but they took care of me pretty quick, was slightly annoyed because truck was new and only had a couple 1000 KM's on it but the person that hit the car behind me took full responsibility so it's hard to get mad, chalk it up to shit happens.

I haven't heard of that happening in years.

I found this article while I was browsing their site.

‘Far and away expensive’: Auto insurance brokers charged ICBC $434 million in commissions last year

Brokers making too much commission?

https://globalnews.ca/news/4725022/f...ons-last-year/

Private insurance might take a little bit longer to finalize everything.

So I ended up going with icbc once again. For some reason they didn’t apply my over 10 years experience in previous years. So my yearly with the same coverage went from $3002 to $2200

So....with a 30' wide road, and back up camera, 360 top view, some sort of audible warning and she still manage to fuck up your car? She should be bussing! I can guarantee you, she will prob hit some other car parking at Aberdeen mall.

Not sure if posted but another reason why our rates are going up. It's due to scumbags like this.:seriously:

https://globalnews.ca/video/4748740/...traffic-injury

Classic, I’ve seen so many compilations like this on YouTube. Usually from one country :p

Its coming....brace yourselves....renew ASAP.


https://theprovince.com/news/bc-poli...icbc-rate-hike

With ICBC losing so much money, B.C. drivers should brace for a whack to the wallet in the annual requested rate hike, with an announcement expected Thursday or Friday.

David Eby is the guy who famously said ICBC’s bank accounts were burning up in a “financial dumpster fire” that threatened to engulf the entire auto insurance corporation.

The Attorney-General vowed to do something to douse the flames. But lately it seems like somebody threw a couple of tires on the fire and doused the whole thing in gasoline instead.

The dumpster fire is still raging and ICBC continues to lose vast amounts of money. The corporation’s recently reported loss for the first six months of the fiscal year was a shocking $582 million.

That means ICBC is on track to lose over $1 billion again this year, which would be the second consecutive billion-dollar-plus loss.

If you want to put it another way, consider that ICBC is losing more than $3 million a day. That means ICBC will lose about $9,000 in the four minutes or so it takes you to read this column.

Something’s got to give, and it will start this week.

The public auto insurer is set to reveal its annual requested rate hike, with an announcement expected Thursday or Friday.

With ICBC losing so much money, B.C. drivers should brace for a whack to the wallet.

In the category of basic auto insurance — mandatory for all B.C. drivers — the maximum allowable rate hike is 7.9 per cent.

The maximum increase is determined by ICBC’s “rate-smoothing framework” which caps the annual hike at 1.5 percentage points above the previous year’s increase (which was 6.4 per cent.)

ICBC’s optional insurance products (like collision coverage and third-party liability) have an unlimited rate hike, so those could go up higher.

As B.C. drivers prepare to pay more, many must be wondering when Eby intends to finally put the fire out.

The new year will answer that question.

According to Eby, one of the major causes of ICBC’s financial hemorrhaging is the cost of financial settlements to people who suffer minor injuries in car crashes.

The court payouts for pain and suffering are currently unlimited and it’s costing ICBC a fortune: an average of $30,000 per case.

The government plans to cap the maximum payout at just $5,500 but the cap doesn’t kick in to April 1, 2019.

srs question, what's the cheapest car to insure?
cost of insurance for me has outpaced fuel costs and it's getting wider every year

Probably any old, common beater like an old Corolla or something?

Look at the rate of theft as well. It's a big factor in cost

I hear a solution to the problem is to hire more people :lawl:

As they hike the optional coverage lots of the drivers with a long driving history and no accident/tickets be leaving and going private. Double whammy because they lose the clients they want to keep and the ones who are higher risk and bad gambles stay because private will charge them more.

I've never shopped private insurance for my car/truck but I'm coming up next month and I will be this year.

For fuck sakes, just switch to no fault already and stop paying out damages for injury claims. Probably send a bunch of BC lawyers to the employment line but oh wells.

Have Toyota chaser 98 with 30k KM 4 years ago imported, price written 3.5k CAD (actual purchase price) in a transfer form. Paying 109CAD (discount 40 percent), minimum coverage + couple of bucks for work distance travel (do not remember how much). That is why like JDM cars )) land cruiser reliable and dirt cheap. Cheaper to import another one if something serious happens to it. Free head does not cost a lot, fortunately.

However, being stupid i bought 16k CAD summer car from Japan again...

PAY UP BOYS!



https://theprovince.com/news/local-n...d-9007aee8be51


About 25 per cent of customers will see a basic rate decrease, 42 per cent will see an increase between zero and 6.3 per cent, and 33 per cent will see an increase of more than 6.3 per cent.
About one-third of B.C. drivers may see their basic insurance rates jump by more than 6.3. per cent after the Insurance Corp. of B.C. submitted an application Friday for an increase next spring.

ICBC is asking the B.C. Utilities Commission for the increase after it lost $1.3 billion in the last fiscal year and is projecting a loss of $890 million this fiscal year.

Attorney General David Eby has referred to ICBC as a “financial dumpster fire” and the B.C. government has worked with the public insurer to introduce major changes to put it back on track.

If ICBC’s request is approved, customers’ basic insurance rate would increase by an average of close to $60 on April 1, the corporation says. Rate design changes approved by the Utilities Commission this fall won’t be implemented until September.

“A rate increase is never going to be positive but I think the more important thing in this announcement is that this is an encouraging sign that we’re seeing the positive measures that we’re implementing, in terms of reform, come to light,” said Nicolas Jimenez, who was appointed president and CEO of ICBC in July.

Jimenez said that without the reforms, ICBC was looking at a rate increase of more than 40 per cent, meaning drivers could have paid an average of $360 more for basic insurance.

The increase is necessary, ICBC argues, because of sharp increases in the number of crashes as well as injury and vehicle damage claims over the past five years.

Since 2014, injury claims costs increased by 43 per cent to a project total of $3.67 billion in 2018 alone, while vehicle damage costs have increased by 50 per cent to a projected total of $1.63 billion, according to ICBC.

Jimenez said that in September, when the rate-design changes are added to the basic-rate increase, about 25 per cent of customers will see a basic rate decrease, 42 per cent will see an increase between zero and 6.3 per cent, and 33 per cent will see an increase of more than 6.3 per cent.

“Which is the whole point of the design,” Jimenez said. “There are a lot of people who really deserve to be paying less than they’re paying today and high-risk drivers are going to be asked to pay more. I think that’s entirely consistent with where British Columbians are at.”

In the category of basic auto insurance — mandatory for all B.C. drivers — the maximum allowable rate hike had been 7.9 per cent.

The maximum increase is determined by ICBC’s “rate-smoothing framework” which caps the annual hike at 1.5 percentage points above the previous year’s increase (which was 6.4 per cent.)

Optional insurance products will continue to be adjusted to remain competitive with the private market, Jimenez said.

Eby released a statement slamming the previous Liberal government for failing to prevent increases he described as preventable.

“The previous government was presented with clear solutions to ICBC’s financial crisis and warned that if it did not act, drivers would suffer the consequences,” he said. “They not only ignored the warning, they hid the solutions from the public.”

Eby said the changes will significantly reduce legal costs linked to minor injury claims while improving care for people who are injured in crashes.

“We are also undertaking a historic modernization of our public auto-insurer to make insurance rates more fair for people in B.C.,” he added.

Opposition leader Andrew Wilkinson said in a statement that the rate increase demonstrated a need for “a complete overhaul” of ICBC.

“ICBC is a 45-year-old state-run monopoly and hasn’t been fixed by any government,” said Wilkinson, who was a cabinet minister in 2014 when it was revealed that his government had ignored recommendations in an Ernst & Young report it commissioned that could have addressed the financial issues earlier.

“British Columbians already pay the highest auto insurance rates in Canada. Today’s rate increase shows that no matter how much David Eby and the NDP try to blame others for the situation at ICBC, British Columbians are the ones paying the price and that is not fair.”

Jimenez said there will continue to be challenges for ICBC related to claims and repair costs.

“Those cost pressures remain in the system so we’re going to continue to work with government to look for ways to drive out more reforms and more cost savings, so that when we look to next year and the year after that, we can continue to bring rate increases closer to the rate of inflation,” he said.

6.3% if approved would apply April 21st, 2019.

I put insurance on my R today as I want to enjoy it on over Christmas and on nice days. I miss driving it and life is too short.

One interesting thing is they started the under 5000km discount process. They said I could bring the car in to view the odometer or take a picture of the odometer (that same day) and show it to the broker. I provided the odometer picture and if I drive under 5000 kms for the year I will get a 10% discount next year. Supposedly. I only did 10 months so I don't know if it will be prorated.

that's the logical one but sometimes ICBC isn't so logical

is there like a list somewhere for Canada?

Too many variables.

Find a small, old, cheap car that never gets stolen.

Just get a Honda ruckus

wanted a grom but scared it's not fast enough to get out of trouble and too small/quiet to be seen/heard

$120 commission doesn't seem that unreasonable - takes about 10-15 mins to process and there's probably 10-15 mins afterwards of admin work after. My insurance agent does reminder calls as well and I know there are ones that will come to you to process.

Taking more of it online though makes tonnes of sense but I would think that some people should get in person advice on what they should buy lest we have people being underinsured.