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jimmyking8888

ICBC wants more money from you!

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32 minutes ago, The Lock said:

And how would this put us in a better position? I'm not exactly seeing a lot of thought being put into your post.

 

51 minutes ago, bishopshodan said:

I believe privatization would breed competition, therefore better options.

https://www.citynews1130.com/2018/12/14/icbc-rate-hike-renews-calls-for-privatization-abandoning-sinking-ship/

 

I have never been a fan of ICBC, I don't trust them. 

I don't know if it would put us in a better position but I believe it would. Those are my thoughts.

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26 minutes ago, butters said:

ah, so its not so much a reaction to the article, as it is using the article to parrot a precanned view.

yes.

Just reminded me of the bad job ICBC has done. 

 

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4 minutes ago, bishopshodan said:

 

https://www.citynews1130.com/2018/12/14/icbc-rate-hike-renews-calls-for-privatization-abandoning-sinking-ship/

 

I have never been a fan of ICBC, I don't trust them. 

I don't know if it would put us in a better position but I believe it would. Those are my thoughts.

I'm not a fan of ICBC either, but I'm pretty sure I'd hate the private companies even more and likely would wish we still had ICBC if we went that route.

 

If this is about hate for a company rather than logically thinking about the potential outcome if we ditched said company, I can't back that kind of opinion at all. It's reacting without really thinking about the logic. I guess another example would be with Brexit of all things. Great, they want to leave the EU. Now what? They don't seem to even know that answer!

Edited by The Lock
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47 minutes ago, Seannnp said:

Do you want to know how quickly a serious accident can burn through 100k in treatment?

i know. Dad had a career changing accident. He had to fight them in court as they called him a liar for years. He was not, they lost.

 

I admit. I am prejudice. Those years were awful.

 

I apologise if I have stirred some people up in here with my pre-canned opinion. I'm just one bishop.

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11 minutes ago, bishopshodan said:

i know. Dad had a career changing accident. He had to fight them in court as they called him a liar for years. He was not, they lost.

 

I admit. I am prejudice. Those years were awful.

 

I apologise if I have stirred some people up in here with my pre-canned opinion. I'm just one bishop.

You know private companies would be just as bad if not worse on this front right?

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I'm fine with this. Wish I had more options for insurance though. If there was competition with ICBC maybe we wouldn't be gouged as bad. 

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8 minutes ago, butters said:

You know private companies would be just as bad if not worse on this front right?

Perhaps, but a private company is more likely to fight for your cause, eepecially if the other driver has a different carrier.  even when it is the same insurer, just knowing there is competition for your business means any decent company will do their best to serve you better than something like ICBC.

 

ICBC wants 50/50 fault as much as possible, since they raise rates on both parties.  I had to argue being rear-ended once with them, and that should be a no-brainer unless I was driving backwards.  At least I had an easier time than Bishop's dad did.

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This is what happens when you have 1 insurance company.

You get to bend over and touch your toes.

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2 hours ago, jimmyking8888 said:

  

The Insurance Corporation of British Columbia (ICBC) has announced another phase of their new rate model which will see customers with frequent or serious driving convictions paying more for their optional insurance coverage starting Sept. 1.    After June 10, driving convictions will have the potential to affect premiums. The premiums will escalate in line with the frequency and seriousness of those convictions.   Serious driving convictions such as Criminal Code offences, impaired driving, excessive speeding and distracted driving, will result in increased premiums after the first conviction.

 

Uhm...that's good.  The frequent offenders should pay huge..and none offenders like me low. 

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3 hours ago, jimmyking8888 said:

  

ICBC wants more money from you!

Speak for yourself. I don't have frequent or serious driving convictions, and if you do, you deserve to pay more.

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1 hour ago, redhdlois said:

Funny story....years ago, before ICBC, my (claims-free) father went to re-insure his vehicle....they raised his premium...stating it was because he was due to have an accident. :blink:

The law of averages, eh? So when you do have one you have the argument they have to lower your rates!

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3 hours ago, Coconuts said:

I'm fine with this. Wish I had more options for insurance though. If there was competition with ICBC maybe we wouldn't be gouged as bad. 

Careful what you wish for sometimes.  You may be right, but if other examples of private insurance has taught me anything, premiums would be low, however, so would the odds of getting paid for a claim.

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        I actually have a perfect driving record.  For now my rates won't get effected at all.   Problem is  ICBC never said the good drivers rates will go down.   They just said the bad driver will pay more.    So I ask you ,what is in it for the good drivers or the average drivers?  People  speed over 15 km to 20 km time to time,  does that mean they are bad drivers?  At the end the day, I think majority of the people will end up paying more money out of their pocket at the end of the year.   

       The long term solutions for BC is to privatize auto insurance.   Just ask Quebec , Manitoba,  Alberta.   People in BC pay the highest among all of the province rates in Canada.    Any of the major banks or insurance company in  Canada will provide better rates and faster service.   I have no problem donating couple of hundred dollars to charity every year.    But giving money to a despicable, useless , hopeless company like ICBC is not my intention.  Thank you.   

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12 hours ago, Seannnp said:

The reason ICBC rates are through the roof is because of fraudulent, exaggerated claims, lawyers driving up costs of settlements, increased costs of repairs, etc. Much of the public know very little about privatization yet advocate for it like they are experts. Privatization only leads to lower prices in the short term. Eventually, prices get higher and higher and they aren't regulated by legislation (meaning they would not have to apply to the utilities commission to increase prices), younger drivers or inexperienced drivers would pay exponentially more regardless of their driving records, claims are more easily denied, you can get cancelled at anytime which increase your rates with other insurers, coverage would be a lot less for both accident benefits and tort for serious injuries. longer wait times to get vehicle repaired, caps on rental vehicles much lower than what is being offered by ICBC. I think you should read up on the state of private insurance in Ontario.

 

ICBC until now was the only jurisdiction in NORTH AMERICA that did not have caps on tort compensation. Lawyers were demanding crazy settlement dollars to resolve files or moved forward with litigation which ultimately drove up costs of claims. Did you know a medical expert opinion contracted by a lawyer could be anywhere between 5k-15k and those costs are paid for by ICBC which eventually results in increased premiums. Lawyers literally take 30% of a settlement from their injured clients for doing paperwork including their wages, treatment expenses, etc and ICBC pays their costs of doing business.

 

With the new caps and driver based rating system, I fully expect ICBC to turn things around. Like everything, it takes time to turn things around.

ICBC has been around for 46 years.  I highly doubt this is the year they turn things around...

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11 hours ago, butters said:

according to google, average rates in the USA are 1500 US a year which is more than I pay right now. So how is it you guarantee this?

 

Also, if private means cheaper, why is healthcare so expensive in the US?

The US population is over 350 million.  I am pretty sure that has something to do with why their private insurance is so expensive and why they cannot publicly fund it.

 

$1,500 USD a year for car insurance is around $1,950 CDN.  That doesn't sound very expensive to me.  I pay way more than that.  Do you have the most basic insurance policy that is available?  My insurance is close to $3,000.

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I like how we get red light cameras and then icbc adds  the infractions to your insurance rates lol  , so now do we pay for points and get a insurance hike as well   talk about  double dipping .  why doesn't icbc make new drivers go thru more training  and have actually licensed instructors , it like the blind leading the blind , I have seen driving instructors driving like they shouldn't be on the road and they are teaching people how to drive yikes   , icbc should ban new drivers from driving cars  over a certain horsepower and price I don't lnow how may times ive seen a n on a Ferrari lambo bmws Mercedes  how about jacking up those rates  since they can afford  100 000  cars they can afford 10 grand a years insurance

 

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Nice "Fake News" headline. LOL!

 

Anyways, they should really just tack on more surcharges to the  basic coverage since that insurance is mandatory.  Adding it to optional wont really do much as people will just opt out of it or get the coverage elsewhere.

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Have you guys used ICBC's new tool to estimate your basic amount under their new program?

 

https://change.icbcbusiness.com/tool/

 

Seems like my basic insurance rate is going down. So that's good. Used to be $1900 now $1400 it seems.

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On ‎6‎/‎7‎/‎2019 at 5:45 PM, bishopshodan said:

i know. Dad had a career changing accident. He had to fight them in court as they called him a liar for years. He was not, they lost.

 

I admit. I am prejudice. Those years were awful.

 

I apologise if I have stirred some people up in here with my pre-canned opinion. I'm just one bishop.

ICBC is not the one to blame for having to fight in court. That's the fault of your fathers lawyer. I have yet to see ICBC call anyone a liar without recommending criminal charges. ICBC has a different opinion of that of lawyer on how to quantify a claim. Everything has to be proven and the evidence has to speak to the injuries. I'm sure your dads lawyer was arguing for a loss of capacity or future wage loss that likely didn't match with the facts of his claim. My family has had several claims, each and everyone, the other drivers fault and we have never felt like we haven't received fair compensation. its difficult to place a numerical value on physical injuries. The problem is lawyers offering everything under the sun and trying to deliver just to drum up more business.

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