beckiwoo

So I finally got a ball park figure for car insurance.

Based on having my BC licence for 2 years with $3 million liability, comprehensive cover, ability to rent vehicles from a hire company in the USA and Canada (if travelling), $300 deductable.

This is based on a 2012 Nissan Micra (as i am looking at a compact car)

If ICBC accepts my 4 letters showing 5 years of insurance its $2366

If they DO NOT accept any of them then its $3532

I allowed $3000 for the worst case scenario so I am little bit peeved its come out $500 over budget.

I hate ICBC already!

dbd33

It's no different in Provinces where ICBC doesn't operate. People in Canada drive badly and are litigious by nature so it costs a lot to insure them. I'd be delighted to get away with three grand (though not at the expense of getting in a Nissan Micra).

beckiwoo

It's still a joke $3500 for a nissan Micra.

dbd33

There have been several years when I've paid more than the value of the car for the year's cover. I believe that to be routinely true for people in the Yukon and NWT. This is a terrible country in which to insure a car regardless of having to use ICBC.

beckiwoo

although I have heard other provinces are slightly cheaper such as AB

Photoplex

Mine started out at about $2500 a year in AB, where insurance is privatized. Took a few years for it to drop down significantly.

ann m

Yep, driving standards are poor, weather is poor, and road conditions are poor either through snow, ice and rain or bucketfuls of grit everywhere. And then the weather in general is extreme (snow, hail, floods, fires, tornados). Insurance generally is pricey - this the sad price to pay for driving in this land. It will come down eventually 😉

Snowy560

Do you have to have a car?

Our family has one. However, I rarely drive if I can avoid it. There's often car share options (you know like Modo and Evo).

S

dbd33

Alberta is the most highly regulated province for car insurance premiums (with privately owned carriers) the companies are privately owned but the premium bands are set by the government.

BC has, possibly, the worst of both worlds; premiums as high as the more unregulated provinces, ON for example, but as much bureaucracy as the state run system in MB.

Photoplex

I believe each grid band is a max that an insurance company can charge. It doesn't stipulate a minimum, allowing for competition between insurers.

That's certainly been my experience of shopping around, and getting different premiums from different insurers, when asked to exact match an existing policy coverage and terms.

Edit: Also, just reading on the AIRB website, and noted this:

• Grid appies only to basic coverage premiums (third party liability & accident benefits)
• About 10% of drivers are rated on Grid

plasticcanuck

Don't you think you're being disingenuous again insofar as not disclosing the reasons for your high insurance costs? There's no doubt auto insurance in Canada is too high but I insure 2 cars for $1800 per annum. I've had no accidents or received tickets/lost demerit points for speeding or other infractions. You've admitted in the past to being a scofflaw and driving well beyond the speed limits which no doubt have contributed to your high insurance costs. Have you ever had your licence suspended for such infractions?

scrubbedexpat133

I complain about paying 860 for my Hyundai acccent!!!

dbd33

Yes, all of that is true. Some other provinces don't have an equivalent of the grid.

dbd33

I rarely drive at or below the posted speed limits, yes. On ordinary roads posted for 50mph I set the cruise control at 60 odd so as to fit in with the traffic. I average a ticket per year for various infractions and have no reportable suspensions. I drive 30,000+ miles a year which isn't good for the premiums.

I base my opinion that insurance premiums are high on my long involvement with the insurance industry. My personal premium is a bother to me but not unusual for the location and distance driven.

I assume you're benefiting from an age discount, are you with Grey Power?

beckiwoo

I've managed to get through 2 years without a car but I feel restricted when I want to go snowboarding on the mountains or to just leave the city for a bit.


I'm biting the bullet and getting a car.


I've missed not having my freedom so its price I will have to pay