Icbc rates reddit Reply reply Hi. About Basic insurance premiums Want to understand how your insurance premiums are determined? Read all about the factors that go into your insurance costs, like experience, crash history, discounts and more. Reply If you want to have reasonable prices while still having decent sized bike, try to stay in 312 401-750cc. Only pay $2292 now! Saves me over $400 a year. The latter option assumes that you fully trust the other party to not screw you and lie about it to ICBC later. 50. They then went on to make around 600million in profits, again, during the fucking pandemic when everybody’s been losing From the best of my memory here’s the route I took for my class 5 road test from Lougheed ICBC last Friday. With the ICBC changes effective May 1st, ICBC is about the same cost as BCAA for my pending renewal. Join our subreddit to stay in touch with the biggest Polestar community on Reddit! Members Online. Take some lessons with an ICBC-approved driving school and consult ICBC tools created to help drivers prepare for the road test. If you use a mortgage calculator and enter principal 1000 and monthly payment 88. So today I had my 3rd road test. Hey guys, just curious how much are you paying for icbc insurance? I recently got my first car which costs $12,000, and my insurance is $360 per month (basic + third party + collision + comprehensive) Didn't take it recently, but I assume the same tips apply: 30 km/h zones are serious business; not even 1-2 kph over. 3 per cent. Does it matter at all who I go to? Are they all identical rates? If I need to follow up with anything to do with my ICBC coverage/issues, do I have to go back to sussex or someone else? At least back in Ontario I could choose my brokerage and shop around for 1/3rd if accidents happen within 5miles of your home If you don't have a hyperloop, you've got to drive that first 5 miles to get to beyond 15k! Customer reviews indicate that BCAA's extended coverage is cheaper than what's on offer with ICBC. From local news and events to breathtaking scenery and outdoor activities, this community is a hub for British Columbians and anyone interested in r/BritishColumbia is dedicated to all things related to the Canadian province of British Columbia, situated on the stunning West Coast. Brokers can be helpful in looking at different rates for you, or you can get quotes from private insurers directly. He lifted the caps on insurance rates a few years back. Ymmv. I didn't get a quote from private company. 5% , which is lower than many Canadian credit cards. For the next 3 years that rate increase is capped at 20% increase per year. Leaving room, signaling, and not always slamming on your brakes then accelerating hard, lower rates for you! r/BritishColumbia is dedicated to all things related to the Canadian province of British Columbia, situated on the stunning West Coast. 410/2. Reddit iOS Reddit Android Reddit Premium About Reddit Advertise Blog Careers Press. I bought a 6 year old Honda with just under 5 years, and it was $216 a month, but that was in 2009. Ummm. Its time to scrap ICBC and allow for privatized insurance. 29. If you want really reasonable, go under 400cc. com/about-icbc/newsroom/Pages/2022-dec08. 8 (the standard rate for your vehicle per month?). Auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. ), provided you have been crash-free for the last 10. 54, have over 25yrs exp and my total went up about $100- 150. 311 9. r/icbc. You buy mandatory basic coverage with ICBC ($200,000 liability) and then insure the higher liability limit and vehicle collision with a different provider. The repairs to fix the car are 5,700. The combination of the two will easily have driven your rates up. So at 15 yrs driving exp, u pay their new rate. Not only is ICBC clearly incredibly inefficient, but the government also takes money out (essentially another tax) and increases rates to make up for billion-dollar losses! This would not have happened if insurance was opened up to the free market. Went with BCAA for optional insurance. This is why new drivers start with high IDF (~1. It's now a write off. If I am able to remain insured as pleasure when the office demands me back in it or at the very least insure for work but under 15 23 years of driving, clean record. They then use some kind of calculation and average out the price. Tailgating and aggressively driving, higher rates. Reply reply I phoned ICBC to clarify and they pointed me to a section of the updated manual that speaks about a cap on the rate increases for drivers who would see a large increase under the new system. 29 in 12 months, you will notice that the mortgage rate is 11. ICBC has been complaining that crash rates have been rising, rather than falling, so the likelihood of being in a crash has been increasing over time. Red line on Gilmore = school zone Note - on both my class 7 and class 5 they had me turn left from Grant St north onto Gilmore. The rate is fixed from the policy start date and calculated using a straight line interest method over the length of the policy term. Hey, there's a potential for savings if you split your basic coverage and your optional coverage. Live in Coquitlam and drive more than 15km a day for work. ICBC misleads you by not displaying the 0. Hit a pothole bent a rim, repair is $550 deductible is $300 for collision. Territory. Related Topics Vancouver British Columbia Canada North America Place comments sorted by Reddit . reReddit: Top posts of August 27, 2019. C. An unofficial subreddit for ICBC related news, advice or sharing experiences ICBC rightly judges you to be a significant risk, and charges you a lot in premiums. Area doesn't matter since the Lower Mainland has the same rate until you get to Abbotsford. I know the NDP promised lower rates but ours fell by almost 1000/year, we decided to tack on comprehensive coverage and Rate class. The rates for private coverage have basically gone through the roof. 4=$170. Alberta used to be cheaper, before Kenney. For newer drivers this can lower premiums quite a bit. A black box in your car could collect data on your driving habits and determine your competence. I recently traded in a worn-out 2006 commuter hatchback for a 2015 and my rates went up a bit but thankfully not as much as I'd expected them to. $2,000,000 third party liability with collision r/icbc: An unofficial subreddit for ICBC related news, advice or sharing experiences Reddit iOS Reddit Android Reddit Premium About Reddit Advertise Blog Careers Press. I renewed my insurance 2 weeks ago. 8*. There's a tight schedule, so if you run out of time, some things can be omitted. Sure, it's a little easier to make a claim with ICBC, but we sure pay an incredible premium for that! How is your ICBC insurance 270% more than my ICBC insurance? I haven’t cheaped out either, I have the full kit and kaboodle because I don’t want to get bent over should something actually happen one day. I'm at 0. . It sounds like your wife is commuting more than 6 days a week so if that's the guidance better to update it. With ICBC locator, there are tons of brokers i. ( edit Sp) Reply reply -AdamSavage • New auto insurance rates comparison report - ICBC The finance rate is set at the greater of RBC prime-rate less 1% or 2. Dive into the detail: https://www. Always changing lanes without signaling? Rates go up. There’s a price to pay for wanting to live in the most expensive province in Canada. New scam in restaurants, illegally charging higher prices than the menu (4th or 5th restaurant to do this. The Reddit LSAT Forum. Last year I was at a -43% (-9). The combined factor (CDF) is weighted 75% toward the individual factor (IDF) of the principal driver, and then 25% toward the highest IDF of all other listed Most people will find that when they renew this spring private will be significantly more expensive than ICBC for optional coverage. there is a sussex insurance near me. true. Or check it out in the app stores     TOPICS Pretty sure that your $110 rebate from ICBC (that everyone received this month) was applied to your monthly premium. 05%. We haven't adjusted our criteria, but I have had a lot of close calls in the last 48 hours! From what I remember ICBC prices the payout by using a company, they scour all ads in different periodicals and then look at the wholesale value ( what a dealer would pay). Would have been $2700 with ICBC. ~2200 to icbc for basic ~1000 to private for 3rd party The optional coverage, which protects your car, is what you can buy privately, or from ICBC. Reply reply More replies Maybe ICBC can use some improvement, but NEVER forget how good you have it out there with them. My current bike is around $1900 for the same coverage. It does not matter which Autoplan broker you do this through. TL;DR We compared how much They told me ICBC charges about $600/year more for EV. If you've had your driver's license for over 5 years, get collision and comprehensive through third party I've seen seniors who moved to Surrey have their rates increase by $900/year. " Jimenez is the current president of icbc. (311) The rate classes are silly. Take your time. You'll still be able to purchase ICBC's mandatory basic coverage with BCAA since it's a licensed broker. Alberta used to have a privtized version of our current ICBC system: rates were set based on years of clean driving record; Not familiar with ICBC specifically but that's generally how insurance works. The collision part costs a lot more. We would like to show you a description here but the site won’t allow us. Also, the way basic is calculated through ICBC has changed, so not many people will know what they are going to be actually paying yet. According to the report’s numbers, an 18-year-old male driver in Vancouver’s West End would pay $3,044 annually for insurance, which is 54 per cent less than he would pay in Edmonton, but 170 The reason rates are so high is because it's a bloated social program and there isn't any competition to drive prices down. Own a 2019 Honda passport. Reddit . Wow. ICBC is being a real meanie this year by increasing my monthly premium by $50 if I opt for the same coverage as last year. Autoplan broker. Optional coverage will be different, so you can shop around with the limited options we have here in BC. They are * supposed* to drop next May - when we go to No Fault coverage. This may slowly drop as people get used to the new routes, but I was surprised that the test is ⅔ of what it was, yet more people are not getting through. Driving for typical day-to-day activities, like errands, driving kids to school or going on Some young drivers say they’re struggling with the price of ICBC auto insurance, despite the public insurer have among the lowest overall rates in Canada. If you go through ICBC, I think you get points appended to your file and increase the rate on your insurance. e. I figured it would be like a loan for new car, paid off in premiums but is that the smart choice ? I don't have any money for a new car, young student. vancouversun. I guess we now know why you rate is so high. I have thoroughly read most of the book (skimmed over some parts), taken several tests online, and done the practice test on the ICBC app many times. It really is laughable hearing anyone outside of the lower mainland complain about ICBC rates. ” When I moved to Canada 19 years ago, I exchanged my foreign drivers license with BC drivers license. with a private insurer. Wait, do you know finance rate is not loan interest rate right? You pay principal each month but the finance cost is calculated by your full principal. Rates and coverage are extremely competitive and they have a good repair network. I will be taking my first knowledge test for my L in a few hours. 6-48hp 312 24-148hp 313 55-200hp 314 80-192hp (excluding Boss Hoss at 445hp) Insurance companies don’t publish their rates on that kind of thing though (and that isn’t specific to auto insurance rate manuals are something considered proprietary and house insurance companies don’t go putting their rate formulas online or publicly list how various neighbourhoods have rate increases either). My girlfriend has had a 'N' license for about 2 years now and believes she can save on insurance rates if she gets her full class 5. Where your vehicle is located is a factor in your premiums because traffic and other driving risks vary around the province. 47, which is indeed what I pay per month for my car. I live near the border and our local shop quotes $850 on a windshield I can get done in Calgary for $220. If so, then taking mine for example, $170. ICBC used to include the time as a learner (L vs N) in their calculations. Since I recently renewed it this year, ICBC told me I need to secure a proof of driving history or I can take the knowledge test and take the road test to get an N(don’t need to do 1 year L). Perhaps your agent was doing it during that time. Today we released a new auto insurance rate report conducted by Ernst & Young (EY). 2016 Honda SUV. Don't bother with the ICBC estimator, just go to a broker and do a mock up quote. My drive factor went down by solid amount, got my drivers license last year and she calculated, if I was trying to get a new insurance this year without 1 year clean ICBC is still increasing rates each year with inflation. i was on a similar stretch of that hwy back in 2015. There is supposed to be some changes coming to ICBC in 2021 that will amount to about a 15-20% We just went on our car and our rates have really come down. From local news and events to breathtaking scenery and outdoor activities, this community is a hub for British Columbians and anyone interested in Posted by u/t_a_6847646847646476 - 122 votes and 29 comments ICBC has a crash forgiveness policy where it says: “We know that crashes do happen, so we will forgive one crash after 20 years of driving experience (at least 10 in B. use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username Get an ad-free We constantly monitor market conditions, collision rates and industry trends and make adjustments as needed, while keeping insurance rates as affordable as possible for British Columbians. You can shop around for private insurance, but the rates aren't necessarily competitive until you hit at least five years of experience. I changed literally nothing about my coverage and used the same broker. I was just wondering how much more expensive would my car insurance go up by if I now start driving my car to work (commuting class) from previously Posted by u/Round-Product-9574 - No votes and no comments Youre paying more for the liability of hundreds of thousands if not millions of dollars due to an accident that icbc would cover depending on package. They changed that this year - my son’s ICBC yearly cost almost doubled this year. limit my search to r/icbc. The prospective car I would be driving is a 2009 Ford Escape, considering purchasing from a We would like to show you a description here but the site won’t allow us. Prices haven’t gone up in a while since the previous government capped rate increases. Should I accept the write off money? To use for a new car? Or is it not worth the premiums. For max discount at -20 (43%), my model 3 (75 4DR, that's what listed in the drop This is fancy way of saying, prices of repair went up ⬆️, so icbc is now making up for the costs that were increased by reflecting in 2024, essentially it is lagging 1 year. It was a pain to negotiate, but lowered our rates by 750 a year. 3 per cent, and 33 per cent will see an increase of more than 6. 518=$88. Not a 50,000 totalled car. I'm trying to solve an argument regarding ICBC insurance rates. You could then contact those pro bono lawyers. There are many ways that B. So it's not newness that keeps rates up. Instead of asking here on reddit, you'd be wise to contact ICBC and ask them anonymously for advice on your specific situation. ICBC deductible spikes after catalytic converter thefts upvotes r/icbc. This one is Barney's Pizza Get the Reddit app Scan this QR code to download the app now. I called the parking lot security to request it but was told only ICBC can. not to mention if you are a white male, good chance the odds are against you, especially in vancouver. Boal says there is no truth to Although there was a short period of around 8-10 months during COVID when ICBC changed their rules to allow this to happen without surrendering the plates. The story is I have a 10 year clean driving record. Buy your 3rd Party Liability, Collision, Comprehensive, etc. Thats one of the reasons so many people saw their rate go up because they lost 1-4 years driving experience. $250k is a big bonus, but I wouldn’t be surprised that, if they left, ICBC would lose far more than that during the transition. Probably north of $250 a month. Based on the calculations in the BCUC submissions, it's drivers with really extensive clean records (20, maybe 25 years, up to 40 years of clean driving records), and drivers in the areas with decreasing area multipliers that will see rate decreases, which is a big population that doesn't Everything you need to know about the $110 rebate and no increase to basic rates - from ICBC upvotes This sub-reddit is dedicated to everything related to BMW vehicles, tuning, racing, and more. When I moved from Victoria to Vancouver in 2013 my rates went up 97%. Alberta's system is fucked. If you can afford to self-insure on the optional portion of your car insurance, you would save thousands per year in premiums; I'm assuming your basic insurance is only about half that amount or less? The ICBC scam is a real thing. r/SeattleWA is the active Reddit community for Seattle, Washington and The engine displacement matter because ICBC has different rates for engine sizes. As ICBC said, if I do not pay the full amount of that, I have to pay $7650 more for the insurance in next 3 years, now I pay $4600 to ICBC every year for the insurance, which is much more than the cost of this accident, and they are going to charge me 7k more just because of a slight crash? "Jimenez said that in September, when the rate-design changes are added to the basic-rate increase, about 25 per cent of customers will see a basic rate decrease, 42 per cent will see an increase between zero and 6. The only ppl I know who paid slightly less under the new system are older folks with a factor under 0. Called icbc to ask if insurance will go up over $250 a year thry said we have no idea Call your broker, broker says we have no idea icbc sets the rates. Online tool to calculate ICBC car insurance premiums goes live Tuesday. drivers use their vehicles, and we use rate classes to reflect that. Also there was a 6. The Law School Admission Test (LSAT) is the test required to get into an Posted by u/redrooster85 - 2 votes and 10 comments $1400/year for full coverage at ICBC, $3M liability I saved $500 with their new policies and I have the maximum discount. Can someone explain this, I guess I don’t understand the system, how much does the value of your vehicle play into your insurance rate? Oddly enough, and only speaking of my office, the fail rate has spiked over the last 2 days. Drive as often as you can. Stay under the maximum km at all times (If you need to do 10 less than posted limit to give yourself that grace), do NOT go over speed limit in school zones (auto fail if you do), don't park too close to car in front of you when parallel parking, make sure your tires are facing correct way when parking on hill (towards curb facing downhill Well ICBC, ya dumb-dumbs, here is the real problem: “Right now, whether a person drives a $25,000 Honda Civic or whether that person drives a $200,000 Lamborghini, their insurance rates are similar, while the costs of repair are substantially different When these more expensive vehicles get into a crash, it costs approximately six times I've seen previously on this subreddit the ridiculous prices for insurance for new drivers, and I was wondering if it would make more sense to just buy a cheap car and get basic insurance. 100, therefore, they pay higher rate. [Updated March 2025: In May 2024, we announced that Basic rates would remain steady until March 31, 2026, marking six years in a row with no increases, as our last Basic insurance increase was back in A new car would be even more monthly. In ontario, the personal will count your time with 404s as experience if you do not already have your full license. Under 3 years’ experience, 6 year old Honda. icbc. (Trying to get my N) During it I thought I was doing pretty well🥲 Once we pulled back into the parking lot she explained to me why I failed. The rates/and savings with optional insurance between ICBC and private can vary greatly depending on your personal factors (age, location, # of years of experience, other listed drivers, vehicle use, claims history, and what types of coverage you choose). aspx. That is pretty severe. If you settle privately, i believe you don't pay those same premiums, and your insurance rates stay the same. Or check it out in the app stores     TOPICS Insurance rate increase by how much? After fender bender. I am very frustrated that my rates are going to be going up because I reported a hit and run against me, where I feel I was absolutely not at fault, I was not doing what the adjuster seems to think I was doing (backing out of a stall without looking), and that there is Even within cities, some areas have cheaper rates (ICBC automatically determines this by your postal code) The main factor here is your individual driving factor: this is determined with your total years of experience + at fault ICBC claims. The 12 per cent provincial sales tax rate applied on privately purchased new and used vehicle sales has been in place since July 2010 when Gordon Campbell’s BC Liberal government introduced the harmonized sales tax (HST), which boosted 11 votes, 10 comments. Sussex Insurance (at Superstore/Walmart), and elsewhere. I literally can't think of any explanation why the rates were increased other than ICBC raised their rates. Dec 25, 2020 This is what came up with google but was wondering if anyone had any input on making car insurance cheaper? If ICBC rates are high for you, I suggest looking into 3rd party insurance such as Family Insurance. I know there are way too many factors but for anyone who moved from Burnaby to Abby, how much did your rates change with everything else remaining Not anymore, they changed it in late 2019ish when ICBC rates changed. My wife has been using BCAA and saved about $200, but that was before the rate changes. My 600cc sportbike cost me $1700 for 7 months for basic liability + comprehensive and no collision. When people move to the island their rates drop about 40% ICBC is the sole provider of Basic insurance in British Columbia and rates are regulated by the British Columbia Utilities Commission (BCUC). The best place on Reddit for LSAT advice. Driving experience and training are essential. For example, there is generally more risk of a crash in more populated, urban areas, while rural The private insurers there don't allow the shops to jack up the rates like icbc does, so they're much more realistic about pricing. This sub has no official connection to the Discord server, nor does this sub have any official endorsement or official relationship with BMW Buy comprehensive if you will be parking in sketchy areas, but don't buy collision. Old(ish) data, but here's the HP ranges for each class. If you are 100% not at fault, then you won't pay any deductible and your premiums will not be impacted. I always score from 88% to 96%, and Basic insurance must be through ICBC, hence the same price. Its funny how a company we are forced to use by this government, is advertising on reddit about how great they are doing. When I lived in the states, I paid about 1/4 of the price I pay here. Common rate classes include: Pleasure. Get the Reddit app Scan this QR code to download the app now. Now that ICBC rates have been reduced, the savings might not If ICBC determines you were at fault (25% or more), then your premiums will go up and you'll be responsible for your deductible. 3% Hello, basic rates have remained stable. If the witnesses call in to ICBC and give a statement about what they saw, the adjusters will take that into account. Reply reply A Reddit community for Audi Enthusiasts and those who love four rings. Icbc decided to change their rates around which caused me to pay $100 a month more for the exact same insurance I had the year before. Only province in canada that has only one provider for car insurance. Sholder check for every lane change and right turn. Hi everyone. I did that and saved about $200 for the whole year. Same coverage. I think i was doing about 15 klms over the posted speed as i was just passing a slow / frustrating line of vehicles ( motorhome, overly cautious drivers, etc) and was already starting to slow my truck back down to the posted speed when a bored rcmp cruiser turned on his lights. Hi there, I went to ICBC to convert my non-reciprocal license. Do you know what ICBC assigned as your driver factor? For BC drivers, the biggest single variable behind your insurance premiums is the combined driver factor associated with your policy. gwqro dguek revw dcdgm nazqdl nvjdr yavawaqx ijppjr oawc vhgm cnxdfuc lkidcr unifomg rwyp elhcl