Province seeks public input on how ICBC rates are designed

Do you think you’re paying too much for your vehicle insurance?

ICBC’s insurance premium rates are finally undergoing a redesign after 10 years of remaining static, and the province wants you to help them decide on how best to hold drivers accountable for their decisions on the road.

“Drivers have been saying for years that the system would be more fair if low-risk drivers paid less for their vehicle insurance, while high-risk drivers paid more,” said Attorney General David Eby.

“This engagement is one way government is giving drivers the power to shape ICBC and restore public confidence in our public insurer.”

Current measures

The move is an attempt to make insurance premiums fair for all consumers, as well as try to offset ICBC’s projected $1.3 billion loss in 2018.

One measure that has already been taken this year is to increase penalties for drivers using electronic devices while driving, through ICBC‘s Driver Risk Premium program (DRP). This was made effective as of March 1st, 2018.

Have your say

“We are committed to reducing high-risk behaviours that put people in danger,” said Eby. “This increased premium cost puts distracted driving on par with impaired driving and excessive speeding. We need distracted drivers to put down their phones and drive.”

The public engagement period ends on April 5th, 2018 at 4 PM.

Here’s how you can participate:

• Complete this online questionnaire
• Send them an email or mail
• Organizations and experts can email submissions in Word or PDF to citizenengagement@gov.bc.ca. These submissions will be publicly posted if you meet these criteria.