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Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n

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Old 06-03-2019, 09:03 PM   #1
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ICBC Insurance Question

Sorry for the vague title, couldn't think of anything better.

Last year around May, I got into an accident. I rear ended a BMW and it was 100% my fault.
Ended up totaling my TSX (rebuilt status) and damaging her bumper.
I managed to find a car, insure it before my insurance rates went up.
Now it's time for renewal and my premiums have gone up.
I went from paying 280~ a month to now about 400~ a month.
From my understanding the accident follows the car.

Could I buy a "junk car" switch that to my primary car, insure it for parking insurance and reinsure my current car at my previous rates?
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Old 06-03-2019, 09:09 PM   #2
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Won't work since storage insurance doesn't use license plates
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Old 06-03-2019, 09:16 PM   #3
Where's my RS Christmas Lobster?!
 
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Won't work since storage insurance doesn't use license plates
So if I were to get the lowest insurance possible on the junk car, the difference probably wouldn't be big enough for the headache?
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Old 06-03-2019, 09:21 PM   #4
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Quote:
Originally Posted by heisenberg View Post
Sorry for the vague title, couldn't think of anything better.

Last year around May, I got into an accident. I rear ended a BMW and it was 100% my fault.
Ended up totaling my TSX (rebuilt status) and damaging her bumper.
I managed to find a car, insure it before my insurance rates went up.
Now it's time for renewal and my premiums have gone up.
I went from paying 280~ a month to now about 400~ a month.
From my understanding the accident follows the car.

Could I buy a "junk car" switch that to my primary car, insure it for parking insurance and reinsure my current car at my previous rates?

Caims can only affect 1 vehicle at a time, however they can't affect storage policies.
Whatever you do now, will change in September.
You COULD buy a junk car and insure it first so the claim will be attached to that, and cancel insurance after but you'll be paying $18.00 for new plate and $28.00 for registration, and $30.00 for cancellation.
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Old 06-03-2019, 09:29 PM   #5
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So if I were to get the lowest insurance possible on the junk car, the difference probably wouldn't be big enough for the headache?
In my opinion, definitely not. You'd waste more time, money and space to have another car just sitting there so you could have no claims on your current car.
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Old 06-03-2019, 09:37 PM   #6
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If you're worried about cost, raise your deductible.
It amazes me how many people have their deductible at $300 for collision when a simple raise to $500 nets quite a big savings in total insurance premiums (i saved $400 a year).

and remember you only pay $500 collision deductible for an at-fault accident or hit and run.

Raising comprehensive tends to not be worth it, $300 is usually the best place to have it as comprehensive (theft, vandalism, scratches, etc) are more likely than at fault collisions if you are a decent enough driver. Plus $200 glass deductible only applies with $300 comprehensive deductible.
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Old 06-04-2019, 07:15 AM   #7
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If you want to save money on insurance, just get the basic $200,000 third-party liability and nothing else.

It meets the minimum legal requirement , but obviously you risk not getting your car covered by vandalism nor when you are involved in an an-fault accident etc

Drive safe (less) , and Good Luck
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Old 06-04-2019, 07:36 AM   #8
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Holy smokes $4,800 a year.
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