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Old 04-03-2012, 03:54 PM   #1
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How ICBC Calculates Discount?

Never outright owned a car. I've always been under the impression that as soon as you get your license, icbc starts counting this milestone towards your insurance so i've been waiting it out to fully buy and register a car for myself.

Now i've been told that if i've never actually insured a car, I don't get the discount that I thought I was building up for not having any claims for the last few years of having my license. Its been 8 years since my L license.
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Old 04-03-2012, 04:04 PM   #2
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8 years x 5% = 40% discount, one more year your a roadstar
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Old 04-03-2012, 04:13 PM   #3
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I've been getting discount ever since my L, when i started insuring a car I was already given a discount.
similar case for someone else i know who got 10% discount when he insured his first car shortly after getting an N.

so to answer your question, I believe that ICBC starts counting when you first get your L.
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Old 04-03-2012, 04:31 PM   #4
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my question is when do the 5% roll overs take place?

IE. would it be beneficial to only insure my vehicle up until said 5% is added, then renew for a year at the added 5% or is it automatically applied to your rate as soon as it hits the time where you are awarded the next 5%?
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Old 04-03-2012, 04:55 PM   #5
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No mean to thread jack.

What if I get into an accident while being covered under my father's insurance? I know his rating goes up (-20 to -17), but does it affect my insurance later on in the long run?
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Old 04-03-2012, 04:56 PM   #6
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Old 04-03-2012, 04:57 PM   #7
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Originally Posted by Hondaracer View Post
my question is when do the 5% roll overs take place?

IE. would it be beneficial to only insure my vehicle up until said 5% is added, then renew for a year at the added 5% or is it automatically applied to your rate as soon as it hits the time where you are awarded the next 5%?
not 100% sure, but i believe this is what suppose to happen.

for example say your birthday is feb 10, and you get your N license Oct 22. they will rollback every full month from when you get your N to your L. So your annivisary day is Feb 22, for your 5% discount.

This is what is happening for me, but I got my license so long ago, maybe rule have changed
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Old 04-03-2012, 04:57 PM   #8
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No mean to thread jack.

What if I get into an accident while being covered under my father's insurance? I know his rating goes up (-20 to -17), but does it affect my insurance later on in the long run?
If you are found to be at fault for the accident, then any party who insures their car first will be affected. So if you purchase insurance before your dad then you will have a surcharge on your insurance rate(+40%,50% etc.) and your dad won't be affected...If your dad insures his car before you insure a car, then his discount will take a hit.

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Old 04-03-2012, 05:01 PM   #9
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As soon as you have your L, every year you increase 5% discount to a maximum of 43%.

You do not have to own a car for these discounts to begin.
If your discount ends up being 0% and you do not have any claims then call ICBC customer contact to confirm or discuss what is wrong with your discount.

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Old 04-03-2012, 05:17 PM   #10
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If you are found to be at fault for the accident, then any party who insures their car first will be affected. So if you purchase insurance before your dad then you will have a surcharge on your insurance rate(+40%,50% etc.) and your dad won't be affected...If your dad insures his car before you insure a car, then his discount will take a hit.

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Well, last time I checked my dad's insurance already took a hit, but he was at -20 on the CRS scale, moved up to -17 after the claim which makes sense.

So just to confirm then, even though the accident claim is on my dad's insurance as I am covered, but I was the driver at fault, it will not affect my insurance discount as of now (as I have not insured a car yet).

EDIT
Think I got it, my insurance should still be good then, thanks!
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Old 04-03-2012, 07:06 PM   #11
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seems confusing.

I got my L when I was 16, and I'm 25 now. I'm at a 35% (-7), will probably move up to 40%(-8) when I insure my car this year.

16-25 that is 9 years of driving - shouldn't I be at 43%?

someone help me understand.
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Old 04-03-2012, 07:51 PM   #12
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Quote:
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Well, last time I checked my dad's insurance already took a hit, but he was at -20 on the CRS scale, moved up to -17 after the claim which makes sense.

So just to confirm then, even though the accident claim is on my dad's insurance as I am covered, but I was the driver at fault, it will not affect my insurance discount as of now (as I have not insured a car yet).

EDIT
Think I got it, my insurance should still be good then, thanks!
If you try to insure the car you were at fault in, then you will see the increase. If your dad continues to insure the car that you were at fault in, when you go to insure, you will still receive your discount. I think that's how it works, I was in a similar situation and called into ICBC to ask about it.

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seems confusing.

I got my L when I was 16, and I'm 25 now. I'm at a 35% (-7), will probably move up to 40%(-8) when I insure my car this year.

16-25 that is 9 years of driving - shouldn't I be at 43%?

someone help me understand.
I don't think they count the L years. If they did I'd be missing out on 5% too

Last edited by Kayci; 04-03-2012 at 09:02 PM.
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Old 04-03-2012, 08:59 PM   #13
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is it true that if i have no accidents in 10 years, i get ONE accident credit?
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Old 04-03-2012, 10:00 PM   #14
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^ i think they abolished that a while back lol
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Old 04-03-2012, 10:32 PM   #15
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They do calculate when your get your L, however the auto system they use to calculate your discount isn't always correct, sometimes not even close. If you are unsure about your discount, have in insurance broker should call ICBC and confirm it manually..
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Old 04-03-2012, 10:53 PM   #16
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I was actually on the phone with an ICBC insurance customer service agent for over an hour asking her to explain to me how the discount/surcharge works and is calculated, i do have an understanding of it, and can estimate my own over the years now, i can try to explain it but it takes drawing charts, lol. which i did over the phone.

Regardless of whos car you drove, when you go to insure your own vehicle, you will see the surcharge, as well as the owner of the vehicle. This is based on personal experience, however everyones experience with ICBC's is their own and is different.
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Old 04-03-2012, 11:11 PM   #17
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is it true that if i have no accidents in 10 years, i get ONE accident credit?
I think this is still true. Friend's dad recently totalled his van but insurance covered it without affecting his discount because of the 10+ years no accident. Wouldn't be the same if he got into another accident now.
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Old 04-03-2012, 11:18 PM   #18
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It all depends on which level you are at before you have the at fault claim affect. If your are at level -10(43%) and you have claim, you drop 4 level= -6(30%).

If you are at level -13(43%) and have an claim, you drop down 4 level, then you sit at -9(43%)..

ICBC | crs.pdf
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Old 04-03-2012, 11:33 PM   #19
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ok thanks Eddie for clarifying that for me!
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Old 04-03-2012, 11:35 PM   #20
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Originally Posted by BorLorBao View Post
As soon as you have your L, every year you increase 5% discount to a maximum of 43%.

You do not have to own a car for these discounts to begin.
If your discount ends up being 0% and you do not have any claims then call ICBC customer contact to confirm or discuss what is wrong with your discount.

Customer Contact
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Sat 9:00 am - 5:00 pm

Phone:604–661–2800
Quote:
Originally Posted by Bahhbeehhaaaa View Post
is it true that if i have no accidents in 10 years, i get ONE accident credit?
I don't think so... I asked about that the last time when I got into an accident and the ICBC agent replied with a "haha you must be joking" kind of attitude, and saying that is just a popular rumor passed around, and that there are no such thing as freebies... I know there's been cases where drivers with extensive clean records are able to get out of an accident without much of a penalty on their premiums, but that may be because of something completely different. So I would say no, there is no such things as an accidental credit.
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Old 04-04-2012, 01:01 AM   #21
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Just wait till you find someone with multiple compressed claims spread out over 5 years. Then explain to their befuddlement EXACTLY why their discount is in the negatives... over the phone... Fun Fun Fun

Back 10+ years ago before CRS system was more laxed on discounts for more experienced drivers (10% a year maximum 40%) So inadvertently the kids could reap the benefits of a high discount insurance for the car. That stopped when the new CRS system was introduced and everyone starts @ 5% now (Those exempts: immigrants w. Proof of Ins) and they started to require to declare WHOIS "Principal Operator" on paper.
ICBC | crs.pdf



This also happened to be around the same time the "L" "N" new drivers program was introduced (Before it was just written test and road test to Class 5) and the whole "Street Racers" phenomenon blew out of proportion. I Won't get into that shit now because it will enrage me and open a can of worms, and it's late.
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Old 04-04-2012, 05:20 PM   #22
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basic goes up to 43% discount(grade 9) and optional will cont to be discounted up to grade 20 with minimal % increments such as 1% a year.

Thought about this thread when I called them this afternoon.
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Old 04-05-2012, 12:53 AM   #23
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%1 on OPTIONAL coverage only thou. Basic will always be %43 after (-9)
(-9) = %43
(-10) = %43 & %44 on collision and comprehensive.
~~/~~
(-20) = %43 & %54 on collision and comprehensive.
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