ICBC, Insurance Cost and Discount Questions?

[!SG]

So i had to renew my insurance today.

The broker mentioned that my insurance went down a little this year, i asked him, isnt my insurance maxed out at 43%?

So his reply was, yeah, for basic, you are maxed out at 43%, but there are additional discounts on the remainer of ur insurance.

So i asked him how long must i be driving to get maxed out discount? he said about 20 years. (i still got 5 more years to go =/)

Anyhow, anyone work at a autoplan broker? can they explain what additional discounts is he talking about?

Thanx.

[ilvtofu]

What sort of coverage do you have? how much are u paying for that GS?

[Edison_Chen]

Once you received a 43%, you will be considered as getting the maximum discount. However, every yr after 43% you start to gain levels (CRS levels). Pretty much, every year, the premium will decrease anywhere from $30-50.
What the levels do is if you get into an accident (at fault accident), you start to lose the levels. The maximum level to get is -20 (43%). So technically you get like 3 free accidents, before you lose your 43% discount..

See PDF for Claims Rated Scale (CRS)
http://www.icbc.com/autoplan-insuran...riables._frag_

[!SG]

ahhh, thanx. thats the info i was curious about, because i thought 43% was the max already, and didnt understand the extras...

im at 43% (-15) now, so 5 more years.

im paying about $2000 to insure my 99 GS300 (compared to my dads insurance which is $1650 for a newer car, and technically his car has gotten into more accidents, *knock on wood*)

i have all the usual jazz all thru icbc, basic coverage, third party, collision, comprehensive, and roadstar plus

[fliptuner]

So your collision, comp, 3rd party, Roadside + is where you get the bigger discounts......