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Archive for 'ICBC'

ICBC Rates reduced, amount is more than expected!

Back in May, I wrote that ICBC was applying for a rate reduction of 1.9% on the basic part of your car insurance.  Well the Utilities Commission has finally ruled on the application.
While 1.9% is certainly good news, the commission has ruled a 2.4% decrease!  The further reduction is due to ICBC’s continued efforts to [...]

ICBC applies for rate reduction

That’s right…a rate reduction.  ICBC today applied to the British Columbia Utilities Commission (BCUC) to reduce basic insurance rates by an average of 1.9%, effective November 1, 2010. This would be the first change to the basic insurance rates in 3 years, and a positive step in a time when most insurance rates [...]

BC introduces Canada’s toughest impared driving laws

Drunk drivers beware…driving under the influence is about to become much more costly.
The Provincial Government yesterday introduced changes to the Motor Vehicle Act (MVA) that will greatly increase the penalties if you are caught drinking and driving.
Drivers who blow over the legal limit 0f 0.08 per cent BAC or refuse to provide a breath sample [...]

Rising dollar means more vehicle imports

With the Canadian Dollar essentially at par again with the US, Canadians are flocking south.  Many are making day trips to do some bargain hunting.  Many are shopping for larger items, and we are bracing for another rash of cars, trucks and boats being imported from the US.  The US market is so much bigger, [...]

Vehicle purchase taxes to go up

Back in September I wrote that it looked like private vehicle transfers would not be subject to the HST. Well the recent provincial budget has changed that.
While not technically subject to HST, a private vehicle purchase will be subject to a 12% Provincial Vehicle Tax. Vehicles purchased from dealers will be subject to [...]

Spring Ahead….

Just a reminder that daylight savings time kicks back in this weekend.  Don’t forget to set your clocks an hour ahead before going to be Saturday night.
ICBC typically sees a spike in claims the Monday following the time change each Spring.  Here are ICBC’s top five smart driving tips for Daylight Saving Time:
1. Get some [...]

Interesting ICBC claims stats

All of our staff recently had the opportunity to attend a seminar dealing with ICBC Liability coverage.  While there, I learned a few interesting facts from ICBC claims files in 2008:
1) 26% of ICBC customers carry $1,000,000 or less of third party liability - this does NOT included those carry only the basic compulsory!
2) ICBC [...]

Did you know that the cell phone ban also includes other electronics?

By now everyone should know that cell phones are now banned while operating a motor vehicle in BC.  Have we you changed your driving habits?
Police have stated that until the end of January, they will only hand out warnings.  But starting February 1st, talking on your cell phone will get you a $167 fine.  Texting [...]

HST and Private Vehicle Sales

One small piece of good news on the HST front.  It appears that private sales of used vehicles will not be affected, and the tax rate will remain at 7% (higher rates for “luxury tax” will presumably still apply) of the purchase price.
Vehicles purchased from dealers will get hit with HST; currently they charge both [...]

Back to School….

As kids (and parents!) everywhere gear up to go Back to School, we start getting a lot of questions about coverage for those of to college or university in other parts of the world.  How does this affect their Autoplan coverage?  What about the stuff they take with them?
Autoplan policies are valid any where in [...]