Auto insurance on way up

[Bsuds]

We use ICBC for the mandatory basic insurance and a private company for the rest.
We save hundreds compared to Ikybiky

[Glacier]

My neighbours (a block away) have been saving thousands of dollars because they don't even have plates on their cars. All four of them. The cops have been watching them, but they drive as soon as the cops leave. I guess they can't afford it. It must be that the meth business isn't doing so well (or whatever it is they are manufacturing in the place).

[gman313]

maybe if y'all stop texting and driving the rates will go down.

[GordonH]

All past & present BC Provincial Governments have robbed from both ICBC & BC Hydro to cook the books at incoming revenue's expected.

Unfortunately this all comes home to roost when bigger claims happen ICBC or infrastructure needs updating at BC Hydro. Oh yes that money train appears to only go in 1 direction.

Guess what leave whatever profits either makes for future higher claims at ICBC or updated infrastructure at BC Hydro, OMG why did will not think of that before. Because your more worried about covering your own arses.

Yes, they all do it. I don't care which Party is in Government


Added later: with ICBC have a set ceiling on profits(/banked revenue) once that ceiling is achieved give rebates to those drivers with no claims or driving offences broken. Reward good driving practices.

[kgcayenne]

Today's poll is about privatizing ICBC. Yes, I get it that a lot goes to 'general revenue' but sure, go ahead and privatize it. It'll be cheaper for a short period of time, but will always go up to feed corporate dividends and profits that are set to increase YOY. Our taxes will also have to go up to compensate for the loss to general revenue.

Typical consumer thinking by only looking at the immediate reward without consideration for anything even remotely long-term.

[Woodenhead]

The grass is always greener...

[Glacier]

ICBC is a tax on people who drive, but hey, I'm okay with that. We have to pay one way or another, it's sure a like better than MSP that increases 4 to 6% every year.

[GordonH]

Got to wonder how many billions have been moved out of ICBC into Provincial coffers since the early 70s when ICBC was first started.
I suspect it would be a little shocking, if the true numbers were known.

[Hassel99]

Got to wonder how many billions have been moved out of ICBC into Provincial coffers since the early 70s when ICBC was first started.
I suspect it would be a little shocking, if the true numbers were known.

$1.17B from 2010-2014

it is a ton!

[kgcayenne]

How much is that as an expression of percentage of ICBC gross revenue? and net revenue?

[MAPearce]

Geezus... The Boss is STILL waiting for anything from ICBC for an "not at fault" accident 20 months ago...

Oh wait , they said it was 50/50 at fault . I guess we're waiting on our lawyer and ICBC's 'Legal department ?

Kinda makes me wonder how much an ICBC lawyer makes to deny legitimate claims..

[lesliepaul]

Liberal lying Ba%#*rds........all of them. Using "claims" as an excuse is a absolute crock of *bleep*. In the last 5 or 6 years the Liberals have siphoned over a BILLION $$$$$ out of ICBC. Public insurance was first set up in 1971 by the NDP in Manitoba and it was a godsend for young people. The idea was to have affordable vehicle insurance for all, unlike private insurance that penalized the *bleep* out of you for everything........and continues to do so today.

The problem with Public Insurance is that governments are taking out the bulk of the profits and the worst case of this is in THIS PROVINCE WITH THE EXISTING LIBERALS. To the people that cry for private insurance.......be careful what you wish for. If you only drive to the store and back once a week and the car is parked the rest of the time.......you are a great driver in their books and will obviously get an amazing rate. Make a mistake and you can open the "floodgates" on premium increases. Absolute HORROR stories in the U.S.

Our main problem here with ICBC is the scumball, lying, POS Liberals.

[Static]

Here is an odd idea.....Move within walking distance to work and get rid of your car. You will do both your wallet and health a bunch of good. With car sharing and public transit, there really is no reason to own a vehicle unless it is for business purposes.

[Smurf]

Our vehicles are half our life and part of most of our pleasures. How would you enjoy our beautiful province, country, without a vehicle to get out to see it all country. Even when we travel Europe etc. we rent a vehicle so we can see the back roads etc and not just the tourist traps. Who wants to sit their life away in a concrete jungle.

ICBC is both good and bad. It can be expensive for good drivers but very affordable for young drivers. They should definitely collect higher premiums from bad drives. Every ticket you get should mean an increase in premiums and points towards loosing your licence until you learn how to drive properly.

The government should also keep their hands out of the cookie jar. I realize that it goes into the public pot, but why should drivers pay an unfair share. Raise taxes a bit across the board so that everyone pays their share of health costs, education etc.. Drivers are nailed enough on fuel taxes. The reason governments like ICBC and BC hydro is they can syphon off funds without looking bad, at least to the many people who do not pay attention.

If anyone thinks ICBC is bad try dealing with a private insurance company. We had family members who had a broken water line to their fridge which went inside a wall and under the hardwood floors. The damage was terrible. The fighting with the private insurance company was even worse. No insurance company just hands out their money and private ones are extremely quick to cut you off if you have multiple claims. I think in the end we would find their are trade off's in all systems.

[Relentless]

Here is an odd idea.....Move within walking distance to work and get rid of your car. You will do both your wallet and health a bunch of good. With car sharing and public transit, there really is no reason to own a vehicle unless it is for business purposes.

What fairlytale land are you living in?
Some of us love to explore the backroads, visit relatives in other cities, and not have to carry groceries in a snow storm, or wait at bus stops. For most "average" people, owning a vehicle is a way of life.

Also, just imagine how expensive other things would be, if ICBC wasn't taking up massive collections for the "General Revenue" kitty.