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ICBC Rate Fairness - Have Your Voice Heard

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Mar 27, 2017

ICBC wants your feedback as they look to restructure the current system to make insurance rates fairer and to hold drivers accountable for their driving habits and behaviours.

The current model, which all insurance paying British Columbians follow, is over three decades old. Since then there have been improvements, but never as drastic as ICBC wants to introduce soon.

The general consensus among the public is that high risk drivers should be paying high premiums, and low risk drivers should be paying less. Currently, drivers with a high risk are not paying nearly enough to cover the risk they represent.

Who currently receives discounts or considerations? What are the proposed changes?


Seniors: British Columbia residents who are 65 or older and using their vehicle for pleasure only receive an additional discount on top of any they may already received for crash-free driving.

Proposed changes: Reduce the discount if involved in an at-fault crash, any additional at-fault crashes result in removal of the discount.

New residents: Residents who have less than eight years of driving experience are considered in determining insurance premiums.

Proposed changes: Extend the eight years to fifteen years when determining the premium. Develop an overall premium surcharge that would apply for three years to all new residents.

Inexperienced drivers:British Columbians with less than ten years of driving experience received substantial Basic Insurance discounts, with highest discounts during the first three years of driving.

Proposed changes: Minimal adjustments if crash-free. Removal of adjustments after at-fault crash.

Who will pay more?

Changes are being made to more accurately reflect the risk drivers pose. This would result in about two thirds of British Columbians seeing lower premiums and one third seeing higher premiums. Those with rising rates would be drivers with prior at-fault claims or those who have multiple or serious driving convictions. Government is seeking a transitional period for those with rising rates, so they could manage the premium increasing over time.

Where can I find more information?

Rate Fairness is an important topic that all BC drivers should be familiar with. To learn more about the premiums you pay and what these changes could mean for you, check outthe ICBC website. Which has information ontypes of insurance, claims, driving experience, drivers with minor and serious convictions, low risk driving discounts, and outdated rating.


ICBC wants to hear from you!


Fill out this online questionnaire before April 5, 2018 to provide feedback and help design an improved system for all British Columbians.

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