ICBC Rates through the roof!

[Kelowna_Born]

2018 SUV bought brand new for $26,000. Pretty low end daily driver.

Friend just went to renew and brought me her paperwork and I couldn't believe the cost.

11 years save driving/43% discount
2,000,000 Third Party Liability
$500 Deductible Collision
$500 Deductible Comprehensive
To and From work within 15km's

$189.00 per month or $2268.00 per year.......WOW

So if you are a new driver with Zero discount you would pay 43% more per year so, $3243.24 or $270.00 Per month?

[OKkayak]

Yikes!

I've got the 43% (25+ years safe driving)
$3 000 000 Third Party
$300 Collision
$300 Comprehensive
To and From work within 15kms
And I pay about $130 a month for my 2017 daily.

[Jlabute]

Damn. Really?

https://globalnews.ca/news/4379233/new-icbc-rates-who-will-pay-more/

[Relentless]

I have a 2004 econo-box car, with 110,000 kms

30+ years accident/ticket free
30+ years no claims of any kind

$2,000,000.00 Liability Insurance

No Collision or Comprehensive.

ICBC jacked my premiums up to reward me for being a low risk driver.
Every year I pay more to subsidize the bad drivers.

Now I pay $930 for the year, just for basic liability Insurance, $340 more than 10 years ago!
Thanks ICBC for being so reasonable!

[GordonH]

2018 SUV bought brand new for $26,000. Pretty low end daily driver.

Friend just went to renew and brought me her paperwork and I couldn't believe the cost.

11 years save driving/43% discount Been driving since 16, now in late 50's. Only issues is windshields due to the pebbles highway maintenance uses instead of actually sand.
2,000,000 Third Party Liability $3,000.000
$500 Deductible Collision $300
$500 Deductible Comprehensive $300
To and From work within 15km's the same

$189.00 per month or $2268.00 per year.......WOW

So if you are a new driver with Zero discount you would pay 43% more per year so, $3243.24 or $270.00 Per month?

Renewed earlier this year, paid $1,223

I guess having little older vehicle pays off... 2005

[rookie314]

The last Liberal government used ICBC as an ATM. Therefore someone has to pay for it. 1.3 Billion dollar shortfall. Thanks Christie.

[the truth]

The last Liberal government used ICBC as an ATM. Therefore someone has to pay for it. 1.3 Billion dollar shortfall. Thanks Christie.

yup..............criminal i say

[gman313]

Yikes!

I've got the 43% (25+ years safe driving)
$3 000 000 Third Party
$300 Collision
$300 Comprehensive
To and From work within 15kms
And I pay about $130 a month for my 2017 daily.

you can get the 43% discount after 9 years of no claims lol

https://www.icbc.com/autoplan/costs/Documents/crs.pdf

[hobbyguy]

The last Liberal government used ICBC as an ATM. Therefore someone has to pay for it. 1.3 Billion dollar shortfall. Thanks Christie.

That's true but propaganda.

The total amount the previous government took in dividends is less than the current single year loss.

The problem is threefold:

1. Significantly higher numbers of claims, primarily due to smartphone addicts. US insurance companies have been jacking rates roughly 30% to account for this.
2. Significantly higher repair costs. Virtually every new vehicle has custom parts, that are now patented so that after market is shut out. E.g. for the cost of a single Honda CRV headlight, I can replace all the front end lights on my older truck (headlights, markers, and turn signals) and have half the money left over.
3. Ambulance chasing lawyers.

The dividends issue is a political talking point that just deflects away from the real issue - which is skyrocketing number of claims and claim costs.

So if you wanna yell at somebody about your insurance costs, yell at the idiot beside you driving and playing with his iPhone.

[OKkayak]

you can get the 43% discount after 9 years of no claims lol

https://www.icbc.com/autoplan/costs/Documents/crs.pdf

Did I say you can't? "lol"

[OKkayak]

ICBC jacked my premiums up to reward me for being a low risk driver.
Every year I pay more to subsidize the bad drivers.

Bingo!

[Zia65]

ICBC rates will continue to rise until the drivers of this province start acting like mature, responsible adults deserving of a license. I drove from the Okanagan to the Fraser Valley on the weekend and drove into a violent rain storm on the hill heading up out of Merritt. It instantly turned from day to night and my wipers could barely keep up. Other than the Semi's, not one vehicle (other than myself) turned on their lights so they could be seen from behind and many didn't even have their daytime/headlights on.

Between the dangerous driving, rampant cell phone use, lack of turning signals, left lane campers causing road rage and a simple lack of common sense, there are too many preventable accidents sucking the well dry.

[Hassel99]

2018 SUV bought brand new for $26,000. Pretty low end daily driver.

Friend just went to renew and brought me her paperwork and I couldn't believe the cost.

11 years save driving/43% discount
2,000,000 Third Party Liability
$500 Deductible Collision
$500 Deductible Comprehensive
To and From work within 15km's

$189.00 per month or $2268.00 per year.......WOW

So if you are a new driver with Zero discount you would pay 43% more per year so, $3243.24 or $270.00 Per month?

Your math is wrong.

A driver with a Zero Discount would pay $3980 a year.
You added 43% of a small number. You should have reduced 43% of the original larger number.


Does your friend have people living in their house hold with less than 10 years driving experience? I have found this makes a huge difference, and if you think about it, it should.

[alanjh595]

2018 SUV bought brand new for $26,000. Pretty low end daily driver.

Friend just went to renew and brought me her paperwork and I couldn't believe the cost.

11 years save driving/43% discount
2,000,000 Third Party Liability
$500 Deductible Collision
$500 Deductible Comprehensive
To and From work within 15km's

$189.00 per month or $2268.00 per year.......WOW

So if you are a new driver with Zero discount you would pay 43% more per year so, $3243.24 or $270.00 Per month?

Your math is wrong.

A driver with a Zero Discount would pay $3980 a year.
You added 43% of a small number. You should have reduced 43% of the original larger number.


Does your friend have people living in their house hold with less than 10 years driving experience? I have found this makes a huge difference, and if you think about it, it should.

I thought there was something askew there. I just renewed, and my rate is up by $3./mth.

[Kelowna_Born]

So some college kid who needs a reliable new econo $25,000 SUV would pay $3980 a year!!!!!

Its like your Guilty for 10 years until proven innocent with ICBC! That's $331.00 a month not to mention a $400 Payment $200+ in fuel. Closing in on $1000 a month just to get to school and moms house!

$hit my 1st car was a 1984 Pontiac Parisienne I payed $250.00. Wouldn't even idle at a stop sign, and had to feather the carburetor around every corner. The insurance was like $50.00 a month that was in 2003

I have a 2015 Truck which was around $45,000 New.....My insurance is $118.00 a month.

Something is wrong with my friends insurance being $189 for a 2018 $25,000 SUV