New ICBC Rates: Who Will Pay More?

[Coren]

Originally Posted by J.C

Anyone get their 2nd rebate via credit card yet?

saw my refund on my credit card statement yesterday

[lilaznviper]

got a cheque for it in the mail just recently

[donk.]

Hory shiet

Just renewed, 2100$ last year
1200$ this year
Basic + 2 mil

Added fire theft vand for 82$

[BIC_BAWS]

Originally Posted by donk.

Hory shiet

Just renewed, 2100$ last year
1200$ this year
Basic + 2 mil

Added fire theft vand for 82$

Vand = hit & run?

They forcede to buy collision for hit & run smh

Sent from my SM-G781W using Tapatalk

[JDMDreams]

I just picked up a car around $1400 for a year, 2 mill, $300 deductable. Maybe I can afford multiple insurance again

[GIZZ]

I just renewed my 04 Silverado 2500HD. $1104 with $2mil liability, $500 collision and $300 comp deductibles. It's about $500 cheaper.

The third party liability and the base both decreased about $200. The $2mil 3rd party liability is just $42 now. I guess if they are paying out less in injuries there's no need to collect all the excess money.

On the other had an agent once told me if I had third party liability on one car I didn't need on my other cars. No agent had confirmed this since then.

[SSM_DC5]

Bumping this thread back up since I renewed a few cars with the new discount for driving very little. The cars varied from 7,000 kms to 1,000 kms of usage the past year. All were less than $50 savings from the estimated price that came in the reminder mail. Not even 5% discount for low km.

What kind of discounts are you seeing?

[GIZZ]

Overall I'm paying less, probably because I finally decided to pass on extended coverages on some of my cars.

I run full coverage on my HB but I only insure for half a year. The truck and bike also only get short term insurance. Collector plate insurance went up, but I don't do a year anymore instead pay the short term surcharge.

The low kms discount wouldn't work for me, cheaper to do short term than have it parked and insured for the other half of the year.

[JDMDreams]

^^ I thought you have to collector the whole year, or every time you try to reinsure you have to apply again?

[headhunt3r]

You can buy short term insurance with collectors plates. I did 3 months this year while listing the car for sale. You can also let it expire and renew ext year without reapplying as long as the owner doesn't change.

[TypeRNammer]

Got my renewal notice for my Model 3

2 million liability
1000 collision
300 comprehensive

Going from $2400 to $2800

Basically the same rates before the no fault clause kicked in

[SSM_DC5]

Wow, that's double what any of mine and family cars are.

Any changes since last year like accidents? points? loss of mileage discounts?

[yray]

Originally Posted by SSM_DC5

Wow, that's double what any of mine and family cars are.

Any changes since last year like accidents? points? loss of mileage discounts?

TESLAS

[Traum]

Originally Posted by TypeRNammer

Got my renewal notice for my Model 3

2 million liability
1000 collision
300 comprehensive

Going from $2400 to $2800

Basically the same rates before the no fault clause kicked in

Damn... I've been trying to lowkey brainwash my wife into thinking that we should consider replacing her 10+ yrs old Japanese SUV with a TM3 or TMY a few years down the road. But $2800 for insurance is ~$1500+ more expensive than what we are paying right now, and $1500+ can buy a LOT of gas, not to mention the upfront cost of the EV...

[68style]

2003 Celica GT-S renewal showed up... was $1,400 or so last year

This renewal:
Basic = $957
$500 collision = $136
1 mill liability = $25
License fee = $53

Total is $1,171

[TypeRNammer]

Originally Posted by SSM_DC5

Wow, that's double what any of mine and family cars are.

Any changes since last year like accidents? points? loss of mileage discounts?

No changes in terms of discounts or at fault accidents

Only factor would be location, which would be east van

Originally Posted by yray

TESLAS

This

[Hehe]

Originally Posted by TypeRNammer

No changes in terms of discounts or at fault accidents

Only factor would be location, which would be east van



This

I think it's more to do as well with where you live.

My Model 3, I have the full discount, drive for work over 15km, 500 deductible on both basic/comp and I pay about 2100 a year.

My Model X, with the same everything but for pleasure drive instead is just under 2000.

If I have to say, it's either on par or cheaper than what I used to pay for my minivan.

All with BCAA if that makes any difference.

[Dbone]

What's the point of 3rd party when we have no fault.

They best the agent could come up with is if I hit the gas instead of the brake and plowed into a store....

So... why have millions in 3rd party?

[JDMDreams]

I wonder this too, even if you run someone over they can't sue so what's the point unless you crashed into a Bugatti

[Hehe]

The idea is to cover damage beyond just car repairs. Say if you wreck a building, that can be a million dollar project. If someone got hit and is paralyzed/disabled for life, it's a multi-million compensation to cover all the care and lost wages.

And of course, as JDM mentioned, you crash into one of those hypercars.

[Badhobz]

im still not sure how this 3rd party liability works after the changes.

So if youre not at fault (unless you were criminally charged) then you cant be personally sued. If you cant be personally sued, then wtf is the 3rd party covering?

Even if you smashed into a bugatti, you arent on the hook for its repairs right? since youre not at fault.

[underscore]

Hehe is right. Per ICBC https://www.icbc.com/insurance/produ...liability.aspx

​​Extended Third Party Liability coverage

If you're responsible for a crash, it could cost more than you think. Third Party Liability insurance protects you from the financial risk of an at-fault crash.

Your Basic Autoplan includes up to $200,000 in Third Party Liability coverage. But the costs of a crash could be much higher – and you could be responsible for the difference.
How does Extended Third Party Liability coverage help you?

Extended Third Party Liability protects you from having to pay costs that go above your Basic Autoplan limit.

Under Enhanced Care your financial risk for an at-fault crash is reduced. If you’re responsible, the other driver’s insurance covers the cost of their vehicle repairs. Additionally, Enhanced Accident Benefits will take care of anyone injured in an accident, regardless of who is responsible. That means for most crashes, it’s less likely that you’ll be sued if you’re responsible.

However, Third Party Liability is still important in certain circumstances (e.g. non-vehicle property damage or driving out of province). Third Party Liability coverage also protects you in situations where the law permits the other driver to sue.

Extending your Third Party Liability can give you additional peace of mind. You can increase your coverage to a limit of $5 million.

[Badhobz]

So if my wife’s birkin is damaged in a car accident can I claim monies ?!?

All the while I only get some lousy Chiro and physio.

[Hehe]

Originally Posted by Badhobz

So if my wife’s birkin is damaged in a car accident can I claim monies ?!?

All the while I only get some lousy Chiro and physio.

Technically yes. If you feel the offer by ICBC is not fair, I'd suggest either get some help from a lawyer or gather all the hard evidences (receipt for bags, costs to replace/do x things because of the accident) and that should get them to adjust the offer at least.

[Badhobz]

That’s insane. So they’ll replace material goods but not my potential future loss of income or wages ?! This new system is horseshit