British Expats
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British Expats (https://britishexpats.com/forum/)
-   Canada (https://britishexpats.com/forum/canada-56/)
-   -   ICBC trouble (https://britishexpats.com/forum/canada-56/icbc-trouble-641200/)

R I C H Nov 23rd 2009 11:19 am
Re: ICBC trouble
 
Originally Posted by Helen Parnell (Post 8120174)
I know this will not affect me, but just so I know what is ICBC?
The Insurance Corporation of British Columbia is a provincial Crown corporation established in 1973 to provide universal auto insurance to B.C. motorists.

We're also responsible for driver licensing, and vehicle licensing and registration.

Helen Parnell Nov 23rd 2009 11:32 am
Re: ICBC trouble
 
Thanks,

plan to move to BC in about 10 years, so I will need to know.

Selsame Nov 23rd 2009 11:42 am
Re: ICBC trouble
 
Originally Posted by agr (Post 8120160)
Loads of competition in US health insurance - but I doubt you would find any evidence of competence or efficiency as a result. Nice theory though.
Bit of a strawman argument don't you think? Shouldn't we be comparing like with like? How about comparing BC ferries then? You think the absence of serious competition is an incentive to reduce costs? Medical insurance in the US is a rip off maybe, but the treatment I have had in the US was far better than the joys of the NHS.

JonboyE Nov 23rd 2009 11:57 am
Re: ICBC trouble
 
Originally Posted by Helen Parnell (Post 8120206)
Thanks,

plan to move to BC in about 10 years, so I will need to know.
In that case start driving very carefully. With full no claims most vehicles are in the $1,400 - $1,500 a year range with reasonable optional insurance. Have an accident or two and it starts getting very expensive very quickly.

Almost Canadian Nov 23rd 2009 12:36 pm
Re: ICBC trouble
 
Originally Posted by R I C H (Post 8120166)
There's competition in other provinces, and anecdotal evidence on this forum doesn't suggest premiums are any lower elsewhere.

Really? As a fresh off the plane immigrant, I was able to insure two vehicles for $1,500 ish. Would that be possible in B.C.?

R I C H Nov 23rd 2009 3:03 pm
Re: ICBC trouble
 
Originally Posted by Almost Canadian (Post 8120309)
Really? As a fresh off the plane immigrant, I was able to insure two vehicles for $1,500 ish. Would that be possible in B.C.?
My first premium in BC was a fraction over $1,000 in '05

Aviator Nov 23rd 2009 3:58 pm
Re: ICBC trouble
 
Mine was $1400 with 43% discount.

Helen Parnell Nov 23rd 2009 4:37 pm
Re: ICBC trouble
 
Originally Posted by JonboyE (Post 8120249)
In that case start driving very carefully. With full no claims most vehicles are in the $1,400 - $1,500 a year range with reasonable optional insurance. Have an accident or two and it starts getting very expensive very quickly.
Would it still be that high considering I will have lived for about 18 years in Alberta, and 'touch wood' no accidents?

agr Nov 23rd 2009 4:52 pm
Re: ICBC trouble
 
Originally Posted by Selsame (Post 8120220)
Bit of a strawman argument don't you think? Shouldn't we be comparing like with like? How about comparing BC ferries then? You think the absence of serious competition is an incentive to reduce costs? Medical insurance in the US is a rip off maybe, but the treatment I have had in the US was far better than the joys of the NHS.
Quasi-compulsory north american health insurance is a lot closer to quasi-compulsory north american car insurance than a ferry operation is. I didn't suggest that absence of competition reduces costs - my point was that the existence of competition doesn't necessarily reduce costs. American healthcare may be medically proficient, but the parasitic insurance industry that comes with it is anything but cheap. Treatment quality would only be relevant in this analogy if the OP was complaining about car repairers rather than the insurer.

printer Nov 23rd 2009 5:54 pm
Re: ICBC trouble
 
Originally Posted by Almost Canadian (Post 8120309)
Really? As a fresh off the plane immigrant, I was able to insure two vehicles for $1,500 ish. Would that be possible in B.C.?
My son is 17 and his recent renewal for 1 year was $1535. Not bad for such an age with a standard transmission 2 door coupe 2.4ltr engine.

My dodge truck on the other hand was $1750 and that was for me with 40% no claims!!!!

elizabeth_action Nov 24th 2009 12:38 am
Re: ICBC trouble
 
Originally Posted by Almost Canadian (Post 8120309)
Really? As a fresh off the plane immigrant, I was able to insure two vehicles for $1,500 ish. Would that be possible in B.C.?

Which insurance company was that?

Almost Canadian Nov 24th 2009 1:21 am
Re: ICBC trouble
 
Originally Posted by elizabeth_action (Post 8121481)
Which insurance company was that?
ING/Intact or whatever it is now called.

Almost Canadian Nov 24th 2009 1:24 am
Re: ICBC trouble
 
Originally Posted by R I C H (Post 8120485)
My first premium in BC was a fraction over $1,000 in '05
Originally Posted by The Aviator (Post 8120558)
Mine was $1400 with 43% discount.
Originally Posted by printer (Post 8120706)
My son is 17 and his recent renewal for 1 year was $1535. Not bad for such an age with a standard transmission 2 door coupe 2.4ltr engine.

My dodge truck on the other hand was $1750 and that was for me with 40% no claims!!!!
So why are there such large variations? As they are all ICBC and, one would assume, you all live in similar neighbourhoods, I would have thought that they would be closer in price.

I know that Printer's was for a single vehicle, what about the other two?

JonboyE Nov 24th 2009 3:52 am
Re: ICBC trouble
 
Originally Posted by Helen Parnell (Post 8120607)
Would it still be that high considering I will have lived for about 18 years in Alberta, and 'touch wood' no accidents?
You would qualify for the maximum discount which is 43% provided you have proof of your driving record in a form that ICBC will accept.

Each year you must buy basic insurance and a vehicle license from ICBC. There are variations depending on where you live and what you use the vehicle for, but expect something around $900 if you live in a city.

Most people buy additional insurance: fire and theft, collision and extended third-party liability. ICBC sell this but you also have the choice of several private insurers. Typically, for someone with a good driving history these additional insurances are going to cost $600-$700 from ICBC and $400 to $500 from a private insurer.

R I C H Nov 24th 2009 4:50 am
Re: ICBC trouble
 
Originally Posted by Almost Canadian (Post 8121566)
So why are there such large variations? As they are all ICBC and, one would assume, you all live in similar neighbourhoods, I would have thought that they would be closer in price.

I know that Printer's was for a single vehicle, what about the other two?
Why assume we live in similar neighbourhoods? I'm sure car crime/traffic volume is lower in Kamloops than urban Vancouver, and I live just outside of city limits which means a rural environment. Garaging, driver age, commute distance, limitations of use by other drivers etc all affect premiums.

My price was for a single vehicle ('01 GMC Sierra). I now pay $1,250 for a '10 Impreza WRX and $1,200 for an '07 Ford F150


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