New ICBC rate structure moves ahead

NDP’s model aims to shift costs to those most at risk of crashes

Drivers can expect the NDP government’s desired changes to ICBC’s basic premium rates as soon as next year, now that they’ve been approved by the B.C. Utilities Commission.

Last month, Attorney General David Eby announced the government was updating ICBC’s 30-year-old rate structure to shift costs to those most at risk of accidents, including an extra charge to cover new drivers and potential savings for seniors with a long history of safe driving.

Under the new model, ICBC will forgive one claim for customers with 20 years of driving experience, and no at-fault crashes in the past 10 years.

Once a claim has been forgiven, the customer will need 10 more years of crash-free driving to regain the ability to have another crash forgiven without rate increase.

READ MORE: ICBC moves to tighten driver discount rules

Owners with a learner using their vehicle will pay a premium for the additional risk, ranging from $130 to $230. Inexperienced drivers will also pay higher rates reducing as they record years of safe driving.

The proposal, which stated changes to the rate structure will “improve fairness in B.C.’s insurance system,” was reviewed by eight intervenors on behalf of the utilities commission. They could come into effect as soon as 2019.

BC Liberal leader Andrew Wilkinson has criticized the change, saying ICBC’s performance does not stack up against private insurance and unfairly labels most motorists as “bad drivers” with high insurance rates.

– With files from Tom Fletcher


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Warm “blob” could be behind mass starvation of North Pacific seabirds: Study

Unprecedented death toll raises red flag for North American marine ecosystems

Some 500 people attend Sidney vigil for victims of Iran airplane crash

All 176 passengers, including 57 Canadians, died when Flight PS752 crashed

Saanich Police ask for help locating missing high-risk youth

Robyn Coker-Steel has not been in contact with anyone from her home since Dec. 27

Victoria’s reconciliation dialogue on newcomers, Indigenous peoples takes place Monday

The third of six discussions on reconciliation will take place at the Crystal Garden

Six boat wrecks wash up on Cadboro Bay beaches over the weekend

Dead Boat Society working with Oak Bay, Saanich to clear derelict boats

VIDEO: Soldiers trade rifles for snow shovels to help dig out St. John’s

A state of emergency is set to extend into a fifth day

ICBC to bring in ranking system for collision, glass repair shops

Change comes after the much-maligned auto insurer has faced criticism for sky-high premiums

Surrey’s ‘Pink Palace’ being used for Stephen King horror shoot

New web series based on King’s The Stand novel

‘It was just so fast’: B.C. teen recalls 150-metre fall down Oregon mountain

Surrey’s Gurbaz Singh broke his leg on Mount Hood on Dec. 30

Vancouver Island Pride weekend returns to Mount Washington Alpine Resort

Building on the success of last year’s family-friendly pride festival on Vancouver… Continue reading

Scarlett Point lighthouse keeper wins a million bucks playing the lottery

“I usually just get a quick pick, so I didn’t expect to win a big prize”

Poll suggests some don’t think Canada should send troops to stop genocide

The findings are being released just before the 75th anniversary of the liberation of Auschwitz

B.C. woman crowned the fastest female marathon runner in Canadian history

Malindi Elmore ran an incredible 2:24:50 at the Houston Marathon

Alberta bulldog breeder ordered to give refund to B.C. buyer due to puppy’s behaviour

Tribunal ruled a verbal agreement to send a new dog superseded the written contract

Most Read