Anti-ICBC sentiment strong

[Timpo]

Originally Posted by Soundy

ICBC CAN'T turn you down for insurance because of your age, sex, driving record, or the color of your hair. It may cost you a couple limbs and a testicle if you have a shitty driving record, but you can still get insurance (assuming your vehicle is legal, of course).

Private insurers are under no obligation to sell a policy to anyone. There's a chance, in such an all-private environment, that you wouldn't be able to insure your vehicle AT ALL.

ICBC may not refuse to insure you based on your physical appearances.
However, they can refuse to insure you if you haven't paid your parking violation ticket or any fines from municipal government, Skytrain tickets, student loans, etc.

[jasonturbo]

Originally Posted by Soundy

ICBC CAN'T turn you down for insurance because of your age, sex, driving record, or the color of your hair. It may cost you a couple limbs and a testicle if you have a shitty driving record, but you can still get insurance (assuming your vehicle is legal, of course).

Private insurers are under no obligation to sell a policy to anyone. There's a chance, in such an all-private environment, that you wouldn't be able to insure your vehicle AT ALL.


DUDE!

Well that's not entirely true, the facility association exists to ensure that people can obtain insurance in a private market despite their high risk of a loss.

(Two different links)

Facility Association

Facility Association

The facility association does no exist in BC (Or other provinces with public insurance) as ICBC has a program to deal with the residual market.

[Jmac]

I'm not a big fan of ICBC at the moment.

When I bought my latest car in April, I was dropped from -15 to -12 on their scale despite never having an accident.

Around 15 years ago, I had a car that was registered and insured in my dad's name and I was registered as the primary operator. One night, my dad got into minor single vehicle accident on his way to work. He would take the car on occassion, maybe a few times a month.

The accident went on his driving record ... Until, for some fucked up reason ~15 years later when ICBC decided to move it onto mine.

They said they attached it to my dad's truck, which he sold in 2010 to upgrade to a newer truck. They took it off his truck and it sat in limbo until 2015 when I bought my new car, apparently.

I'm not paying any more, but now I'm 1 accident away from being hit with increased insurance rates instead of 2, plus the principle of having an accident associated with my driving record despite never having an accident or ticket in my life. It's BS.

[syee]

Originally Posted by underscore

Or they'll give you such an insane quote that it's not realistic to insure with them. I recall seeing a story in the news a few years back about a kid from Alberta with a few accidents and a written off vehicle on his record. Because of all this the quote he got for insurance in Alberta was $100k a year. They didn't say what his car was but still, that's just absurd. It reminded me of the Top Gear episode where they tried to find the best car for a teenager and all the insurance quotes were several times the value of the car.

While that number looks like a lot, it's not really that absurd when you think about it. When it comes to drivers like this, the insurance company probably is charging them that much not because of the value of the car, but for the likelihood that this kid is probably going to seriously injure or kill somebody. (which they'd be on the hook for)

[Eff-1]

Hating ICBC at the moment. Having reached the maximum discount, each year my total insurance premium INCREASES because they keep raising the premiums.

Same coverage, same car, same address, no accidents, but sorry you gotta pay more.

It's a total rip off especially since my plates are pleasure use only.

2015 6.7% increase (application): ICBC starts 2015 basic rate application process

2014 5.2% increase: ICBC to file 2014 basic rate application

2013 4.9% increase: ?ICBC makes changes to basic and optional rates

[Traum]

Originally Posted by Eff-1

Hating ICBC at the moment. Having reached the maximum discount, each year my total insurance premium INCREASES because they keep raising the premiums.

You're directing your hate to the wrong crowd. I'm not saying ICBC couldn't do a better job, but when the government is siphoning $200M+/year from the crown and into their general revenue coffers, I think the hate should be directed towards the government first.

Same goes for your hydro rates, and the provincial government is sapping even more $$$ from there.

[Phil@rise]

sure young drivers get cheaper insurance under ICBC but its us mature safe drivers subsidizing it!!

[meme405]

Originally Posted by Phil@rise

sure young drivers get cheaper insurance under ICBC but its us mature safe drivers subsidizing it!!

Honestly both young immature shitty drivers, and mature safe drivers should be more pissed that senior citizens have the most discount and are often the worst drivers.

We all know that blind old fuck with a reaction time slower than a slice of cheese hurtling down the road in a late 90's to early 2000's camry/corolla with more scars than a rally car, at like 30km/h below the speed limit.

[winson604]

Originally Posted by Eff-1

Hating ICBC at the moment. Having reached the maximum discount, each year my total insurance premium INCREASES because they keep raising the premiums.

Same coverage, same car, same address, no accidents, but sorry you gotta pay more.

It's a total rip off especially since my plates are pleasure use only.

2015 6.7% increase (application): ICBC starts 2015 basic rate application process

2014 5.2% increase: ICBC to file 2014 basic rate application

2013 4.9% increase: ?ICBC makes changes to basic and optional rates

I feel ya. Overall I've never had any real issues with ICBC. Dealt with them 3 times in my life and all went fine. One time they even went above and beyond and reimbursed me money because the sleepy GM autopsy shop on marine and main fucked me over hard on a simple window replacement and car rental.

I really wish there was a better reward system for the drivers with good records. I'm maxed out yet still gotta pay more every year but I suppose that's life right. Property taxes, insurance, heck even groceries and shit just go up every year.

[Soundy]

Originally Posted by Eff-1

Hating ICBC at the moment. Having reached the maximum discount, each year my total insurance premium INCREASES because they keep raising the premiums.

Same coverage, same car, same address, no accidents, but sorry you gotta pay more.

It's a total rip off especially since my plates are pleasure use only.

2015 6.7% increase (application): ICBC starts 2015 basic rate application process

2014 5.2% increase: ICBC to file 2014 basic rate application

2013 4.9% increase: ?ICBC makes changes to basic and optional rates

Same thing applies to everyone, nothing special about you.

[Eff-1]

Originally Posted by Soundy

Same thing applies to everyone, nothing special about you.

Ok boss thanks for the insight

[meme405]

Originally Posted by Eff-1

Ok boss thanks for the insight

Don't worry, its no better even if you are still accruing your discount level. Every year I think to myself "hey this year I can enjoy paying less for my insurance since I safely drove another year", and every year those hopes are crushed by the fact that ICBC ups the insurance rates by almost the same amount my discount goes up.

[umpadupa]

yes they have raised rates for the last 3 years. and yes the provincial gov uses icbc to help funnel the $$ into government projects.

That being said, yes everyone is correct that ICBC has a fair rating system for younger drivers. and i do agree that they are off setting this with having experienced divers cover the differences.

We do have optional coverages for third party, coll and comp. BCAA, Canadian Direct, Family and so on. However you better read the entire policy booklet as they follow the wordings to the T when a claim comes up. They also have restrictions on what they want to insure, usually nothing over $120,000.
This is one of the reasons the base rate keeps going up. The private companies that are in BC take all the "best" risk and leaves icbc with the shit ones. Also due to regulations, icbc has to cover the basic $200,000 first.
Even if the person causes an accident the private would likely be on the hook for the car damage, however icbc has to pay the first $200,000 on every single claim.
Base rate also increases because icbc has to piggy back the entire DMV where in other provinces and states, the DMV is ran by the state. Our insurance premiums pay for everything.
The underwrites are overworked and claim process are pushed back because icbc is running a leaner and leaner organization recently. They are 1)cutting people 2) only giving term contracts so they don't have to cover future benefits. Thats why there are only a few Licensing centers and seem to be "understaffed"

There are also a shit ton of fraud. To be honest, running a dashcam actually helps everyone. Both yourself and icbc. A lot of people feel that a not at fault accident is like hitting the lotto where as in reality, it should only cover actual losses, injuries and pain and suffering. Small little rear enders without even marring the paint, isnt worth $10,000+ unless it was something that makes sense. However i see people compain how a little bump caused them to miss work for 4days and they need 20+ times of chiropractors. wtf?

Any ways thats a little insight, prob tons of errors, dont mind the english/grammar

[marksport]

Originally Posted by underscore

Or they'll give you such an insane quote that it's not realistic to insure with them. I recall seeing a story in the news a few years back about a kid from Alberta with a few accidents and a written off vehicle on his record. Because of all this the quote he got for insurance in Alberta was $100k a year. They didn't say what his car was but still, that's just absurd. It reminded me of the Top Gear episode where they tried to find the best car for a teenager and all the insurance quotes were several times the value of the car.

Found it, I remember this story too:

Insurance reform hikes driver's bill to $104,000

Kid had a Nissan 240. Moving to BC didn't work out too well, he slammed into the back of a semi-trailer at high speed less than a year later:

Kelowna football player dies in motorbike crash on eve of big game



In 3 years he managed:

-10 speeding tickets
-2 "minor" fender benders
-1 "rear ender" collision that wrote off his car

[Tapioca]

It really shouldn't come as a surprise that rates are going up. Think about all of the luxury vehicles in Metro Vancouver - body panels and special paint processes aren't cheap these days.

If you want cheaper insurance, you're better off buying beaters as daily drivers and getting 2 million liability coverage while forgoing optional coverages. For fun cars, spend the money and get something that qualifies for a collector plate.