Thread: ICBC Claim
View Single Post
Old 08-31-2011, 09:20 PM   #8
Edison_Chen
I'm invisible
 
Edison_Chen's Avatar
 
Join Date: Jun 2002
Location: 604 Vancouver
Posts: 4,458
Thanked 178 Times in 101 Posts
Failed 6 Times in 4 Posts
If you are at base rate or at a surcharge when the claim happens, you have the base rate rule: No matter how high your surcharge is before the claim, after 3 years you will go back to base rate (assuming no more new additional claims).

For example, lets say your at base rate (0%).

You get into 1 accident:
Today:+6 steps = +6(75% surcharge on "no discount" premiums)
Next year: = +5(55%)
Year after: = +4(40%)
Year after that: = base rate (0%).

If your are -6(30%) discount and 1 claim happens...

today: +5 steps = -1(5%)
Next Year: -2(10%)
Year after: -3(15%)
Year after that -6(30%) recovery rule (also assuming no new additional claims)

The claim does not disappear, it stays on your record for 20 years.
http://www.icbc.com/autoplan-insuran...-costs/crs.pdf
__________________
REVscene.net

Last edited by Edison_Chen; 08-31-2011 at 09:26 PM.
Edison_Chen is offline   Reply With Quote