REVscene Automotive Forum - ICBC raising insurance for speeders

REVscene Automotive Forum (https://www.revscene.net/forums/)

- Vancouver Auto Chat (https://www.revscene.net/forums/vancouver-auto-chat_173/)

- - ICBC raising insurance for speeders (https://www.revscene.net/forums/644540-icbc-raising-insurance-speeders.html)

ICBC raising insurance for speeders

we already have the points system. plus we have the driver risk premium.

now this

Quote:

Drivers with speeding tickets or other traffic violations will be hit with higher insurance rates if a proposal by the Insurance Corp. of B.C. is approved.

The proposal will go to the B.C. Utilities Commission later this year and is part of a major company restructuring plan the insurance provider announced Wednesday.

Under the insurance provider’s current claim-rated scale, a driver moves down the scale for each year he or she does not make an at-fault crash claim. Every claim-free year increases the discount by five per cent until the driver reaches the maximum basic insurance discount.

Under the new proposed plan, called the “driving record model,” speeding and traffic violations would be included.

Mark Jan Vrem, spokesman for ICBC, said the change comes after years of customer surveys.

“We realized to be a successful insurance company, we have to be customer-focused and customer-based,” said Jan Vrem.

“We’re modernizing our company to better serve them based on the feedback we’re getting.”

One common complaint was customers felt it wasn’t fair that good drivers paid the same rate as drivers with a history of collisions and traffic violations, Jan Vrem said.

In response, ICBC will go to the B.C. Utilities Commission — which sets and regulates ICBC’s basic rates — in late spring or early fall with the driving record model proposal.

“The premiums that you pay will be reflective of your risk as a driver on the road,” Jan Vrem said. “If you’re in a number of collisions, or you receive a number of traffic violations, you’re going to be paying more than drivers who don’t.

“It will essentially follow the driver’s history. In other words, the policy will be on the driver, as opposed to the car.”

He said the driving record model will paint a more comprehensive picture of a driver’s history than the existing model.

Jan Vrem could not provide an estimate of what the revised rates or potential savings might be, noting each policy will be slightly different and the corporation is still “working [its] way through different scenarios.”

If approved, Jan Vrem estimates the driving record model to roll out in 2013 or 2014.

The “new” ICBC will also include a new, streamlined claims system that will allow customers the option of processing their claims in person, on the phone or online.

“There will be less paperwork, fewer processes,” Jan Vrem said. “They won’t have to go back to ICBC two or three times to deal with their claim. Eventually, our customers will be able to track the process of their claims as they go through the system, much the same way you can track a FedEx package.”

The new claims system is expected to go online in the third quarter of 2012, Jan Vrem said.

ICBC’s workforce will be reduced by about 350 jobs, including 70 management positions, over the next three years due to normal departures, including retirement and voluntary turnover. These positions will not be filled, due to “new technologies and systems,” according to an information bulletin posted on ICBC’s website.

Read more: http://www.vancouversun.com/business...#ixzz1LRxI5wJT

Quote:

One common complaint was customers felt it wasn’t fair that good drivers paid the same rate as drivers with a history of collisions and traffic violations, Jan Vrem said.

what? Which part of the existing system makes good driver pay the same as drivers with "collision history"?? Does the risk premium not already made drivers with point deductions pay more?!

This is just more of an incentive for high speed evasion. If it's a permanent ding I'd run too.

this seems counter intuitive to me.
bad drivers = crashes
good drivers = no crashes
tickets = irrelevant
in a perfect world everyone would be able to drive 200km/h and there would be no accidents but because people suck at driving we limit speeds to reduce the likelyhood of collisions by the shitty drivers. and now they're just looking to snatch up cash from the good drivers. i've been driving for 10 years and i always drive over the limit and have had my fair share of speeding tickets. not enough to be suspended and no penalty point but also no accidents, so... now i would pay more? :speechless:

pile of shit, just out to get more money...

Cool story bro! Looks like more people are gonna start disputing tickets.... Instead of waiting an avg year for the court date it's gonna take two or more!
Posted via RS Mobile

Or you could just not get tickets.. Pretty easy..

Quote:

Originally Posted by Dragon-88 (Post 7421039)

Or you could just not get tickets.. Pretty easy..

pretty easy if you drive a corolla :troll:

Quote:

He said the driving record model will paint a more comprehensive picture of a driver’s history than the existing model.

If my rates increase on my 02 civic, currently over $4000 a year with moderate coverage and an accident 3 years ago, because I have a ticket also from 3 years ago I'm going to snap.

On the other hand, if it's no longer based on my vehicle and icbc realizes my car has 95hp and no one wants to steal it, and they lower my rates I'd be happy. I'm not optimistic.
Posted via RS Mobile

I don't understand how the driver risk premium doesn't already address this. You pay extra if you collect so many points.

What I don't like is that the discount maxes out at 40%. Good drivers in other provinces pay a fraction of what ICBC costs even with a 40% discount. My insurance was $700 more in BC vs Ontario for the same coverage and I have 8 years driving clean.

Instead of changing the system to punish bad drivers more, how about rewarding good drivers. I'd hate to have a 20 year clean record and only a 40% discount.

For speeding tickets, you already pay more in the way of points, it's just not reflected on your insurance premiums.

From what I understand, the fine for points will be scrapped and everything will be added to your premiums....

Quote:

Originally Posted by dai3yuen (Post 7421158)

How would suspensions/DPP work with out points?

Quote:

Originally Posted by bloodmack (Post 7421246)

How would suspensions/DPP work with out points?

That's simple, keep the points drop the monetary penalties.
Posted via RS Mobile

Quote:

Originally Posted by Vancouver Sun

“We realized to be a successful insurance company, we have to be money-focused and money-based,” said Jan Vrem.

“We’re modernizing our company to milk as much money out of our customers as possible based on the paycheques we have to pay our senior management team each month.”

Fixed.

What isn't fair is that a driver that drives 100K km a year pays the same insurance as a driver driving 20K km /yr.

If they wanted to scale insurance based on risk, they should take mileage into account rather than a safe driver who happens to be unlucky and get a couple of tickets.

Quote:

Originally Posted by Marco911 (Post 7421324)

THIS I agree with.

But I don't see how our current system doesn't already address everything else the way it is.

Quote:

Originally Posted by Marco911 (Post 7421324)

They do. Some what.

Pleasure vs. 15 km or less to work/school vs. 15 km or more to work/school.

I agree with you though. More time spent on the road = exposure to risk.
Posted via RS Mobile

Quote:

Originally Posted by Marco911 (Post 7421324)

Time to unhook the odometer!
Posted via RS Mobile

Well. This will be terrible.

This article was not the best way to start my day.

Quote:

Originally Posted by TRDood (Post 7421370)

They do. Some what.

Pleasure vs. 15 km or less to work/school vs. 15 km or more to work/school.

I agree with you though. More time spent on the road = exposure to risk.
Posted via RS Mobile

out of curiousity which of those 3 is the cheapest options?

pleasure

but not by a lot

time to purchase a radar detector everyone

ok isn't this just another insurance premium?

the point system is essentially a insurance premium, but different name...so they're charging insurance premium twice?

Thanks to this thread, I realized I am in the wrong rate class and paying too much. I'm in rate 002 but I should be in 003, because my work is less than 15km away! Time to change insurance and get a partial refund!
Posted via RS Mobile