B.C. government monopolies rip off residents

Recently ICBC announced that in 2012 they will be raising premiums by $30 per customer.

To the editor:

Recently ICBC announced that in 2012 they will be raising premiums by $30 per customer.

There are currently 2,062,433 vehicles registered in B.C. (2010 statistics). That amounts to an extra $61,872,990 in income for a monopoly that is already taking money from the pockets of B.C. residents.

I moved to B.C. from Alberta eight years ago. In Alberta automobile insurance is run by private companies, not the government. In Alberta I paid $840 a year for complete coverage on my Ford pickup truck. When I moved to B.C. I was delighted to hear that I qualified for the maximum amount of discount through ICBC because I had not had any previous claims on my vehicle insurance. I went down to my local ICBC office expecting a payment of approximately $500 but went into shock when I was informed that my payments were $1,150 per year.

Wow, that’s a minimum of $310 profit per vehicle or $639,354,230 total profits for the B.C. government.

This year ICBC spent millions on commercials to inform us of the good job they are doing, like spending millions of dollars to build roads and traffic circles. I do not think that road construction is part of ICBC’s role in B.C.

Speaking of theft from the residents of B.C. by the government, I recently drove to Edmonton for a visit and noticed that the average price of gas per litre was $1.02 and in B.C. it was $1.22 per litre. Given that the average driver uses 40 litres per week, which becomes an extra cost of $457 per year and a profit by the government of $943,769,340.80 per year for all of the vehicles.

Adding the extra cost of insurance ($310) and the extra cost of gasoline ($457) each driver in B.C. is being ripped off for $767 per year.

I sincerely hope that one of the Opposition parties uses this in their platform:

1. Privatization of ICBC

2. Reduction in gas prices by at least 10 cents per litre

3. Privatization of government liquor stores—the government should not be in competition with private enterprise, it’s just wrong.

 

Richard Callihan,

Kelowna

 

Kelowna Capital News