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

Habitat for Humanity Okanagan receives $20,000 grant

The organization announced the grant from Revera on Friday

Kelowna man attempts to steal bait bike from RCMP parking lot

38-year-old Brian Richard Harbison is facing several charges

City of Kelowna urges people to donate to non-profits instead of directly to homeless

The new homeless camp on Recreation Avenue isn’t equipped to handle donations

UBCO daycare services slated for major improvements

More families will have access to high-quality child care services at UBCO

CBC Radio tops the ranking again in Kelowna

CBC had largest market share for third year in a row say rating company Numeris

VIDEO: Boys help rescue Cariboo bear cub

The cub, weighing just 24lbs, has been taken to wildlife sanctuary in Northwest B.C. for the winter

Doors open to Vernon’s first refill store

Vernon’s Refill Store may be answer to plastics problem

‘Things haven’t changed enough:’ Ecole Polytechnique anniversary prompts reflection

Fourteen women were fatally shot by a gunman at the Montreal school on Dec. 6, 1989

Bear raids freezer, gorges on Island family’s Christmas baking

Hungry bruin virtually ignored meat and fish, focused, instead, on the sweets

Crown delves into Sagmoen’s history with North Okanagan sex workers

Decision on validity of police search warrant will be made on Monday, Dec. 9

Okanagan Similkameen could have a sister city in the south of France

Regional District of Okanagan Similkameen considering agreement with wine region in southern France

Summerland businesses participate in Sip N’ Shop

Downtown event on Dec. 14 will feature local beverages

B.C. pharmaceutical company’s stocks double in value after successful lupus drug trial

More than 40 per cent of patients using voclosporin saw improvements in kidney function

Noxious odour detected at Summerland Health Centre

Staff felt nauseous following incident on morning of Dec. 5

Most Read