Timpo
04-25-2015, 09:57 PM
Newcomer to B.C. ‘totally outraged’ at ICBC motorcycle rates
BY FRANK LUBA, THE PROVINCE APRIL 23, 2015
http://www.theprovince.com/business/cms/binary/10998876.jpg
Darryl Smith knew that when he retired to Parksville from Calgary, things could be more expensive in B.C. than in Alberta.
But he couldn’t believe what it would cost to ensure his motorcycle, a 1,600 cc 2009 Harley-Davidson Dyna Low Rider.
Just the most basic insurance, with a $200,000 third-party liability, would be $800 for six months compared to $300 for 12 months in Alberta.
Smith, 62, could add extended coverage including collision, fire and theft for about another $150 in Alberta. He’s received a quote from a private insurer in B.C. that would get him that coverage — for $389 with a $1,000 deductible or $428 for a $500 deductible.
“I’m totally outraged,” said the former oil and gas industry worker, who was in electrical engineering.
“I’ve talked to a lot of guys out here. They all pay the same rate. They just feel the ICBC is a cash cow at the expense of motorcyclists.”
Smith was mad enough to try reach B.C. Transportation Minister Todd Stone to discuss the situation.
Stone didn’t respond, although a spokeswoman from his ministry eventually wrote back to the unhappy new British Columbian and talked in an email about the “challenge in trying (to) compare insurance rates across jurisdictions.
“Each province offers unique insurance product(s) that provide different benefits,” said the spokeswoman.
She pointed out that basic insurance in B.C. provides medical coverage up to $150,000, while Alberta offer only $50,000.
ICBC spokesman Adam Grossman said B.C. provides “what we believe to be the best insurance coverage in Canada.”
Grossman said: “It’s also worth noting that Alberta’s insurance system limits what payment someone receives when they’re in a crash.
“Their system has a cap on pain and suffering awards, which is not the case in B.C. where drivers are entitled to take the at-fault party to court for damages,” he said in an email. “No other province in Canada offers this option to the same extent.”
ICBC’s official position is that its rates are also higher because the riding season is longer in the Lower Mainland and parts of the Vancouver Island, increasing the chance of an accident and the cost of a premium.
Part of the confusion around insurance, whether it be for motorcycles or automobiles, is that the rules are dictated by provincial legislation and shifts from jurisdiction to jurisdiction.
There is also purely private insurance, like in Alberta or Ontario, public insurance like in Manitoba or a blend like in B.C., where basic insurance can be purchased from ICBC but extended coverage can be bought from private insurers.
While Smith can get cheaper optional insurance privately, there are often conditions that apply to that coverage — such as whether the applicant has had ticket violations or covered, secured parking.
The Dalton Timmis Insurance Group has offices in Ontario and Calgary, but also offers policies in Nova Scotia.
When asked for a quote on a bike like Smith’s, their rates differed in each province.
Alberta offers only annual policies, with $160 quoted for basic coverage. Optional insurance of another $550 would include $1-million third-party liability, collision and comprehensive for fire and theft — with $500 deductibles on the collision and comprehensive.
Ontario has three insurance zones: rural, urban and the Greater Toronto Area. Rural coverage for Smith’s bike would be about $1,000, moving to $1,100 in an urban zone and $1,400 in the GTA. Each carries $1 million third-party liability and $1,000 deductibles for collision and comprehensive.
In Nova Scotia, Smith’s bike could be insured for $700 a year with $1 million in third-party liability but $1,000 deductibles for collision and comprehensive.
Newcomer to B.C. ?totally outraged? at ICBC motorcycle rates (http://www.theprovince.com/business/Newcomer+totally+outraged+ICBC+motorcycle+rates/10998875/story.html)
BY FRANK LUBA, THE PROVINCE APRIL 23, 2015
http://www.theprovince.com/business/cms/binary/10998876.jpg
Darryl Smith knew that when he retired to Parksville from Calgary, things could be more expensive in B.C. than in Alberta.
But he couldn’t believe what it would cost to ensure his motorcycle, a 1,600 cc 2009 Harley-Davidson Dyna Low Rider.
Just the most basic insurance, with a $200,000 third-party liability, would be $800 for six months compared to $300 for 12 months in Alberta.
Smith, 62, could add extended coverage including collision, fire and theft for about another $150 in Alberta. He’s received a quote from a private insurer in B.C. that would get him that coverage — for $389 with a $1,000 deductible or $428 for a $500 deductible.
“I’m totally outraged,” said the former oil and gas industry worker, who was in electrical engineering.
“I’ve talked to a lot of guys out here. They all pay the same rate. They just feel the ICBC is a cash cow at the expense of motorcyclists.”
Smith was mad enough to try reach B.C. Transportation Minister Todd Stone to discuss the situation.
Stone didn’t respond, although a spokeswoman from his ministry eventually wrote back to the unhappy new British Columbian and talked in an email about the “challenge in trying (to) compare insurance rates across jurisdictions.
“Each province offers unique insurance product(s) that provide different benefits,” said the spokeswoman.
She pointed out that basic insurance in B.C. provides medical coverage up to $150,000, while Alberta offer only $50,000.
ICBC spokesman Adam Grossman said B.C. provides “what we believe to be the best insurance coverage in Canada.”
Grossman said: “It’s also worth noting that Alberta’s insurance system limits what payment someone receives when they’re in a crash.
“Their system has a cap on pain and suffering awards, which is not the case in B.C. where drivers are entitled to take the at-fault party to court for damages,” he said in an email. “No other province in Canada offers this option to the same extent.”
ICBC’s official position is that its rates are also higher because the riding season is longer in the Lower Mainland and parts of the Vancouver Island, increasing the chance of an accident and the cost of a premium.
Part of the confusion around insurance, whether it be for motorcycles or automobiles, is that the rules are dictated by provincial legislation and shifts from jurisdiction to jurisdiction.
There is also purely private insurance, like in Alberta or Ontario, public insurance like in Manitoba or a blend like in B.C., where basic insurance can be purchased from ICBC but extended coverage can be bought from private insurers.
While Smith can get cheaper optional insurance privately, there are often conditions that apply to that coverage — such as whether the applicant has had ticket violations or covered, secured parking.
The Dalton Timmis Insurance Group has offices in Ontario and Calgary, but also offers policies in Nova Scotia.
When asked for a quote on a bike like Smith’s, their rates differed in each province.
Alberta offers only annual policies, with $160 quoted for basic coverage. Optional insurance of another $550 would include $1-million third-party liability, collision and comprehensive for fire and theft — with $500 deductibles on the collision and comprehensive.
Ontario has three insurance zones: rural, urban and the Greater Toronto Area. Rural coverage for Smith’s bike would be about $1,000, moving to $1,100 in an urban zone and $1,400 in the GTA. Each carries $1 million third-party liability and $1,000 deductibles for collision and comprehensive.
In Nova Scotia, Smith’s bike could be insured for $700 a year with $1 million in third-party liability but $1,000 deductibles for collision and comprehensive.
Newcomer to B.C. ?totally outraged? at ICBC motorcycle rates (http://www.theprovince.com/business/Newcomer+totally+outraged+ICBC+motorcycle+rates/10998875/story.html)