with no fault, rates should be approximately 80% lower in exchange for what we lose out on. So the rebates and new rates still aren't as low as they should be.
But if you get in an accident, you're pretty much screwed if you have legitimate injuries -
https://www.nsnews.com/local-news/ru...-model-3795192
Quote:
To do that, the no-fault system means most crashes don’t go to court in order to hash out costly lawsuits; instead, ICBC directly pays victims money, reimbursing them for the cost of rehabilitation and lost income.
Of the $1.5 billion ICBC said it will save annually under the new system, most of the money is earmarked to go towards boosting benefits to crash victims with the intention to lead to improvements in access to everything from massage therapy, personal care assistants and payments for lost wages.
But as Shepherd slowly recovers from his accident, he said he’s finding situations where those promises aren’t adding up.
From what he understands so far, he said he may be out of pocket for portion of medical costs like that of seeing a concussion specialist.
“I don’t see how I have to be out of pocket when someone jumps the curb and runs me over,” he said. “If there was a cash settlement on the side, out of that I could make up the shortcomings of all these things on the side.”
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