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.

Just Posted

VIDEO & SLIDESHOW: B.C. Horseshoe Association hosts Abbotsford tournament

B.C. International Highwayman Open runs on Saturday and Sunday

Fire breaks out in Abbotsford home

Crews were able to quickly douse the fire and save the structure

Recent food symposium aims to create ‘valley food culture’

Event held in Abbotsford drew 100 people form local food community

Man arrested after police standoff and fire at Abbotsford home

Suspect allegedly breached conditions to not be near victim or her home

Microbrewery seeks permission to expand food & beer servings

Council gives thumbs up to Loud Mouth Brewery’s application for a lounge endorsement

Rescuers finally persuade Eiffel Tower climber to come down

The official said the man was ‘under control and out of danger’ on Monday night

On-duty Vancouver police officer facing dangerous driving charges

Few details have been provided about the case

Oil companies, 24-cent gap between B.C., Alberta to be focus of gas price probe

Premier John Horgan called the spike in gas prices ‘alarming’

Growing coffee, tea, lemons and papayas in the Fraser Valley

‘Anything that is grown anywhere on the planet we can grow’

Motorcycle deaths spike 50% since 2017

Riders were most likely fatally crash on the weekends compared with the rest of the week

Mother of accused charged in death of Surrey teen girl found in torched SUV

Manjit Kaur Deo charged with ‘accessory after the fact’ in 2017 death of Surrey teen

5 to start your day

Corgis put on a show at the Cloverdale Rodeo, family of B.C. pilot killed in Honduras remembers him and more

Family of B.C. pilot killed in Honduras trying to ‘piece together’ tragedy

Patrick Forseth has a number of friends in the area and was loved by everyone

Justin Trudeau credits immigration for Canada’s growing tech sector

Trudeau stressed that Canada has become a major source of talent for tech all over the world

Most Read