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

Kelowna raises $177,000 for BC Cancer Foundation

Luncheon supports patient and family emergency services for Southern Interior B.C. residents

Expert to speak on extinction of species and humanity’s peril in Kelowna

UBCO will host Conservation ecologist Corey Bradshaw Nov. 20

Kelowna’s definitive Christmas market list

We’ve prepared a list of every market in the Central Okanagan

More affordable housing for seniors opens in Kelowna

Third and final building at the Apple Valley complex on Benvoulin Road opens

VIDEO: Stan Lee leaves posthumous message for his fans

Marvel Comics’ co-creator died on Monday at the age of 95

VIDEO: Protected bighorn sheep killed in B.C. Interior

The sheep are considered a species of concern because of their low population in B.C.

VIDEO: The definition of a kilogram has officially changed

50-plus countries voted to a ground-breaking overhaul to the international system of measurements

Missing-persons list tops 600 in fire-stricken California

Disaster escalates as officials raised the death toll to 63

Deer carcasses don’t belong in green bins, says B.C. city

City of Nanaimo issues reminder to residents, saying fur isn’t compostable

Stolen vehicle from break-and-enter torched at Okanagan school lot

Fire destroys Dodge Journey, believed to be stolen from Vernon home, early Friday morning

B.C. couple helping wildfire evacuees in northern California

A planned holiday has turned into a humanitarian effort for a Penticton couple

Wineology: If your grandma is drinking Sherry she’s a classy lady

Check out Okanagan sommelier Shanyn Ward’s wine column

Dead whale discovered on B.C. shore

The whale was discovered Friday morning near the BC Ferries terminal

Most Read