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Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n

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Old 08-21-2019, 09:00 AM   #26
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Originally Posted by twitchyzero View Post
and icbc is still operating 7-figures in the red
we have too many high end cars here, $120k+ vehicles should be insured privately so it doesnt affect Civic owners
Trust me, it's not the 120k cars screwing your premiums. It's the hundreds of thousands of claims on cars worth 20-30k, the body shops charging 3k for a scratch and the drivers suing for 50k in neck pain. It's easy to point finger at high dollar cars, but the reality is they make up a very small percentage of actual cars on the road. The sheer volume of claims on economy cars far outweighs the six-figure ones. For every 911 that crashes, 100+ civics are wrecked. Even if a 5% of those claimed injuries, the payout will far outweigh the 30k repair bill on the 911.

Most cars on the road are much less than 120k.

Bodyshops are getting rich and ppl are more likely to claim injuries and milk it as much as they can because they feel they've been bent over for so many years. Look at what body shop owners drive and i'll let you guess who is the one making money hand over fist, buying 10-20k road bikes every month.
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Old 08-21-2019, 09:14 AM   #27
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Look at what body shop owners drive and i'll let you guess who is the one making money hand over fist, buying 10-20k road bikes every month.
Lmao is this a dig at Fastrack?
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Old 08-21-2019, 09:31 AM   #28
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Crazy theory here, but there's no one single reason for everyone else getting screwed but everything adds up. There are more accidents involving cheaper cars but when the bill for the repairs on a single car are nearly $800k with some mega rich guy wanting another $200k because his fragile ego got bruised it counts towards the rest of us getting screwed just as much as by $1M worth of Civic accidents.
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Old 08-21-2019, 10:33 AM   #29
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Lmao is this a dig at Fastrack?
No idea who that is.

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Crazy theory here, but there's no one single reason for everyone else getting screwed but everything adds up. There are more accidents involving cheaper cars but when the bill for the repairs on a single car are nearly $800k with some mega rich guy wanting another $200k because his fragile ego got bruised it counts towards the rest of us getting screwed just as much as by $1M worth of Civic accidents.
It all adds up, but these 800k claims are crazy outliers that will never happen again until I'm dead. It's just good news so everyone points fingers without really looking at the whole picture. $800k claim / avg $3,500 bumper is only 228 claims. We get that all day, every day and twice on Sundays.. It's a drop in the bucket.

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Old 08-21-2019, 11:22 AM   #30
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I get your argument, but no idea where you're getting you numbers from... they're kind of wild exaggerations... I've seen plenty of ICBC claims for bumpers on Civics and they never exceed $800.00 + paint. Still too expensive, but not $3,000+ as you're saying. Also, ICBC has instituted the low velocity impact limitations program to counteract the $50k neck claims you're quoting.
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Old 08-21-2019, 11:28 AM   #31
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Also, all of those Civics also pay more in total premiums on an annual basis than that an exotic driver(s) do.

The F40 was also on collector plates, so I wonder if he gets super low rates as well and pays the same as even 1 Civic
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Old 08-21-2019, 12:19 PM   #32
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Also, all of those Civics also pay more in total premiums on an annual basis than that an exotic driver(s) do.

The F40 was also on collector plates, so I wonder if he gets super low rates as well and pays the same as even 1 Civic
That's not how collector's plates work. Collector's plates is not a free pass to ensure anything worth 5,000 to 5million for 600 bucks a year and have the value covered.
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Old 08-21-2019, 07:48 PM   #33
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Trust me, it's not the 120k cars screwing your premiums. It's the hundreds of thousands of claims on cars worth 20-30k, the body shops charging 3k for a scratch and the drivers suing for 50k in neck pain. It's easy to point finger at high dollar cars, but the reality is they make up a very small percentage of actual cars on the road. The sheer volume of claims on economy cars far outweighs the six-figure ones. For every 911 that crashes, 100+ civics are wrecked. Even if a 5% of those claimed injuries, the payout will far outweigh the 30k repair bill on the 911.

Most cars on the road are much less than 120k.

Bodyshops are getting rich and ppl are more likely to claim injuries and milk it as much as they can because they feel they've been bent over for so many years. Look at what body shop owners drive and i'll let you guess who is the one making money hand over fist, buying 10-20k road bikes every month.
is icbc the only auto insurance monopoly in north america?
there's gotta be somewhere else that has a similar model and have much better finances...unless they have equally scammy motorists/body shops as you claim
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Old 08-21-2019, 10:26 PM   #34
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Originally Posted by trollface View Post
Trust me, it's not the 120k cars screwing your premiums. It's the hundreds of thousands of claims on cars worth 20-30k, the body shops charging 3k for a scratch and the drivers suing for 50k in neck pain. It's easy to point finger at high dollar cars, but the reality is they make up a very small percentage of actual cars on the road. The sheer volume of claims on economy cars far outweighs the six-figure ones. For every 911 that crashes, 100+ civics are wrecked. Even if a 5% of those claimed injuries, the payout will far outweigh the 30k repair bill on the 911.

Most cars on the road are much less than 120k.

Bodyshops are getting rich and ppl are more likely to claim injuries and milk it as much as they can because they feel they've been bent over for so many years. Look at what body shop owners drive and i'll let you guess who is the one making money hand over fist, buying 10-20k road bikes every month.

For someone who's never heard of Fastrack you sure make it sound like you know a lot about claims and bodyshops, so which means you either work for ICBC or you're talking out of your ass. You also clearly never worked in a shop dealing with newer model cars. Have you ever taken apart a Hyundai/Kia where it's 1 time use clips on everything or headlights on German cars that dealers charge $2500+? Where every customer coming in wants OEM parts but don't have Replacement Cost. Maybe every second car being painted is a Tricoat color. Worse yet, Manufacturers now have Quad-coat colors which requires the car to be painted twice to achieve proper color match (Yeah, I'm looking at you Nissan and Mazda). Look at Ford, their Ruby red color, Code "RR" is a tricoat red which requires red candy additive which costs $400 for 1/2 pint. Have you seen the amount of red Fords on the road?

The problem isn't body shops over charging, the problem is rising costs of OEM parts, which dealers mark up, people buying optioned out vehicles with enough gadgets and sensors to let them know when to wipe their own asses with then wanting every single thing down to clips being brand new. Then not to mention practically every new car paintjob is bordering custom paintwork. Not to mention seems like every second car on the road is a new car, german luxury or exotic. The only thing you got right is that there isn't 1 thing to blame, it's everything all rolled up and everyone has a share in the blame, from cars being more expensive to people getting new cars every few years, and rising parts prices to repairs getting more difficult. And now ICBC is paying out too much cause it's out of control so they raise premiums to cover their losses, then everyone complains and expects ICBC to cover costs for every single non accident related chip/dent/scratch cause "Hey, what am I paying insurance for???" It's a nasty cycle that won't end, but what the hell....lets just point the finger to bodyshops...
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Old 08-22-2019, 05:54 AM   #35
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Old 08-22-2019, 08:03 AM   #36
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https://bc.ctvnews.ca/icbc-doubles-e...ling-1.4363233

"CTV News obtained an internal ICBC data extract that looked at one week's worth of these claims in 2017. Estimators turned down about $225,000 worth of extra parts, labour and other charges they said weren’t necessary. That was about 40 per cent of the time."


/shrug

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Old 08-22-2019, 08:10 AM   #37
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is icbc the only auto insurance monopoly in north america?
there's gotta be somewhere else that has a similar model and have much better finances...unless they have equally scammy motorists/body shops as you claim
You can actually just buy basic from ICBC for a few hundo and insure 3rd party. But most ppl don't do it because it's a pain in the ass compared to your savings.
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Old 08-22-2019, 05:41 PM   #38
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that's what i do

what i meant is i doubt icbc's problems are unique

oem parts for modern cars going up in price? there are new cars in other jurisdictions that are also getting into collisions
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