New ICBC rate structure moves ahead

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

Island Health has reported a COVID-19 outbreak at Saanich Peninsula Hospital. (Black Press Media file photo)
COVID-19 outbreak hits first Greater Victoria hospital

Island Health declares outbreak at Saanich Peninsula Hospital

Athletes with Fairway Gorge Paddling Club’s open men’s staff head out on a high-tech outrigger canoe. The club raised more than $16,500 at its 2020 Wetdasche event. (Courtesy of Fairway Gorge Paddling Club)
Victoria paddling group breaks fundraising record

Fairway Gorge Paddling Club’s 2020 Wetdashe event raises more than $16,500

The Walking Curriculum gets students outside and connecting with nature. (Amanda Peterson/Special to S.F. Examiner)
‘Walking Curriculum’ crafted by former Saanich resident surges in popularity

The outdoor curriculum encourages students to connect with the natural world

Kathy MacNeil, president and chief executive officer of Island Health, Dawn Thomas, acting deputy health minister and Island Health’s vice president, Indigenous health and diversity and Chief Don Tom of Tsartlip First Nation, stand out Saanich Peninsula Hospital Tuesday morning, when they also answered questions about a new report that “widespread systemic racism against Indigenous people” in the provincial health care system. (Island Health/Submitted)
Head of Island Health says Saanich Peninsula Hospital not part of racist guessing game

Tsartlip First Nations Chief Don Tom welcomes changes following report but promises future scrutiny

Greater Victoria 4-H club member Sava Bell is all smiles holding some of the garden fresh ingredients he used to make his award-winning dish for the Field to Fork Challenge. (Courtesy Agriculture in the Classroom)
Greater Victoria 4-H members among winners in provincewide cooking competition

Field to Fork Challenge encourages B.C. youth to prepare healthy, local foods

A tongue-in-cheek message about wearing a face mask to curb the spread of COVID-19 on a sign outside a church near Royal Columbia Hospital, in New Westminster, B.C., on Sunday, Nov. 29, 2020. THE CANADIAN PRESS/Darryl Dyck
B.C.’s COVID-19 infection count climbs back up to 656

20 more people in hospital, active cases still rising

A man stands in the window of an upper floor condo in Vancouver on March 24, 2020. THE CANADIAN PRESS/Darryl Dyck
Change made to insurance for B.C. condo owners amid rising premiums

Council CEO Janet Sinclair says the change will mean less price volatility

Dave Wallace coached the Parksville Royals for 23 years. (PQB News file photo)
B.C. baseball community mourns death of legendary Vancouver Island coach Dave Wallace

‘All who knew Dave and his passion for the game will miss him greatly’

THE CANADIAN PRESS/Nathan Denette
B.C. researchers launch study to test kids, young adults for COVID-19 antibodies

Kids and youth can often be asymptomatic carriers of the novel coronavirus

A sign is seen this past summer outside the Yunesit’in Government office west of Williams Lake reminding visitors and members to stay safe amid the COVID-19 pandemic. (Rebecca Dyok photo)
B.C. First Nation leaders await privacy commissioner decision on COVID-19 information

Release of life-saving data cannot wait, says coalition of First Nations

MLA Jennifer Whiteside is B.C.’s new minister of education. She is speaking out against Chilliwack school trustee Barry Neufeld and asking him to resign. (Black Press)
New education minister calls on Chilliwack trustee to resign

Whiteside echoes former minister’s promise to look at options to remove Barry Neufeld

Peter Beckett. ~ File photo
Supreme Court of Canada to decide if it will hear appeal in 2010 wife murder trial

Peter Beckett has stood trial twice for murder in connection with the death of his wife, Laura Letts-Beckett

Most Read