ICBC Raised Premiums
 

Long story short, got into an accident with my dads car. 100% my fault and I'm aware they'll raise the premiums, however...

When ICBC was talking to my dad, they offered him two choices
a) ICBC will deal with paying for the damages at a cost of his premiums going up
b) We pay for the damages out of the pocket, premiums stay the same with his current discount (He was at 35% at the time I got into an accident, 43% IIRC after he renews)

He didn't want his premiums to go up so he chose option B. We did not get our van repaired since the damage was so minor and we did get it checked out at the ICBC claim centre.

He just got a renewal reminder letter for ICBC and it says he's back to 10%. He's not the clueless of the bunch and we never received any phone calls/letters from ICBC regarding a payback or something if they did decide to repair the damage. He repeated several times to the adjuster that we'll pay any repair bills out of our pocket. Can't really talk to ICBC about the issue since I'm not the registered owner/principle driver of the vehicle.

Easiest thing for my dad to do is talk to ICBC obviously but I'd like some guidance on this matter so it'll be easier to resolve.

TIA :)

did he pay for the damage of the other car yet?
You'll have to do that to get your discount back to where it was.

No. They never mailed us/called us about any repair bill or if they other party decided to get it fixed.

Just call ICBC to find out. You can always pay for it before your insurance is up for renewal. If your dad doesn't want to call, you can always get the insurance agent to call for you while he's doing his renewal and I "think" they can take the cheque for ICBC too

Have your insurance agent call ICBC before your dad does the renewal. The renewal reminder gets mailed out to the customer 6 weeks in advance before the renewal date. So if there's any changes in between, the renewal reminder will not be correct.

If the other party went in and fixed their vehicle, you need to also pay for his repairs too.
Have the agent call ICBC, and they can confirm the amount to pay back. If its a small/reasonable amount, if you want, you can pay it back.

There are a few options to repay back:
1. Issue ICBC a cheque, and have your insurance broker forward the cheque to ICBC.
2. Pay by credit card over the phone to ICBC directly or
3. Pay by cash/debit at an ICBC claim center, and then go back to your insurance agent and call ICBC for a better discount.


**You must pay claim back, before renewing or else it will affect his discount, and he will not be able to repay it back**

If the other party has an ongoing injury claim that may be hindering the process...also I think you may have to pay for the other parties medical bills and/or injury claim if any...

If there is a successful injury clai from the other party you will not be able to pay out the damage. Call icbc and talk to them. They did something similar to me, except it was 3 years later and suddenly I was +20%, yikes. Phones them and managed to pay it off and get it straightened out.
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If your dad hasnt paid yet, then chances are they think that he doesnt want to pay..

go to an auto broker or just call ICBC

It depends on the cost of the damage
open up your spreadsheet and do the math
raising premium vs damage @ present value

Forgot to update.

Paid it off, was cheaper to pay for it than have the premiums raised. Thanks guys :)
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