ICBC’s new insurance model, which came into effect Sept. 1, is designed to better reflect the risk associated with those who will be behind the wheel of a vehicle.

New ICBC rate model in effect: What you need to know

Model aims to make car insurance better for BC

If you’re renewing your vehicle insurance today, you’ll likely notice a few changes in the process.

They’re all part of measures ICBC is taking to drive home accountability, which means you will be asked for a little more information when you insure your vehicle.

The new model, which came into effect Sept. 1, is more driver-based to better reflect the risk associated with those who will be behind the wheel, explains Joanna Linsangan.

“It’s all about driver accountability. It means that safer drivers will pay less for their insurance with ICBC and higher-risk drivers will pay more,” she says.

Ready to renew? Here’s what you need to know:

  • The renewal process may be a little more involved under the new model, at least for the first year, so try to allow a little more time, Linsangan suggests. You’ll want to list the drivers who drive your car, and have their driver’s license numbers and date’s of birth on-hand.
  • Think about who you plan to let drive your vehicle. Your rate will be based 75 per cent on the driving record of the person who drives the most and 25 per cent on the record of the highest-risk driver, Linsangan explains.
  • Like private insurers have long done, ICBC will consider multiple and serious driving convictions for infractions like excessive speeding when providing rates for optional coverage. “How we calculate premiums will be heavily weighted on your driving history,” Linsangan says.
  • You may qualify for new discounts. If you have a vehicle with factory installed autonomous emergency braking, you could qualify for a 10 per cent discount, in recognition of the technology’s ability to reduce crashes. Another 10 per cent discount is available for those who drive less frequently or for shorter distances – the low kilometre discount applies to cars driven less than 5,000 kilometres per year. Take a photo of your odometer and you may be eligible at next year’s renewal.

Good news for good drivers

More change is in the works that will reward responsible drivers. While the “safe driver” Basic insurance discount previously recognized only up to 9 years of safe driving, drivers will continue to earn additional savings for up to 40 years of driving.

In addition, if you’ve been driving for 20 years, and have a 10-year crash-free record, if a crash does occur, it will be forgiven without impacting your premiums.

To learn more, visit icbc.com

Just Posted

Ben Williams, second from left, receives the Rotary Club of Duncan Student of the Month Award for September from club president Gregg Perry and Student of the Month program coordinator Kim Barnard. To the left is teacher sponsor Tom Veenstra. (Kevin Rothbauer/Citizen)
Duncan Christian standout is Rotary Student of the Month for September

Ben Williams has made an impression at DCS since day one

Cowichan LMG’s Michael Fusick plows through a Nanaimo defender during last Friday’s game at the Sherman Road turf. (Kevin Rothbauer/Citizen)
Depth a concern for Cowichan LMG

Div. 1 club expecting reinforcements soon

The City of Duncan is applying to the province for a grant that would cover most of the costs of the new Cairnsmore roundabout that is planned the intersection of Government, College and Cairnsmore streets. (File photo)
City of Duncan looking to grant to cover cost of Cairnsmore traffic circle

Federal government would cover 60%, province would pick up the other 40%.

Angie Fournier. who served as office coordinator for the Cowichan Lake Community Services, stands with the society’s community bus in this picture. (File photo)
Community Service Society vital for Lake Cowichan

Dozens of programs and other services offered

Premier John Horgan and Rob Douglas, BC NDP candidate for Cowichan Valley, meet with Cowichan First Nation elders, as they demonstrate spearfishing along the river. (Submitted)
Horgan acknowledges A&E sector hit hard by COVID-19, but showing signs of recovery

Hollywood North doing better than Hollywood South, Horgan says

B.C. provincial health officer Dr. Bonnie Henry gives a daily briefing on COVID-19 cases at an almost empty B.C. Legislature press theatre in Victoria, B.C., on March 25, 2020. (Don Craig/B.C. government)
B.C. sees 223 new COVID-19 cases, now 2,009 active

Two new care home outbreaks in Surrey, Burnaby

100 Mile Conservation officer Joel Kline gingerly holds an injured but very much alive bald eagle after extracting him from a motorist’s minivan. (Photo submitted)
B.C. driver thought he retrieved a dead bald eagle – until it came to life in his backseat

The driver believed the bird to be dead and not unconscious as it turned out to be

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Chastity Davis-Alphonse took the time to vote on Oct. 21. B.C’s general Election Day is Saturday, Oct. 24. (Chastity Davis-Alphonse Facebook photo)
B.C. reconciliation advocate encourages Indigenous women to vote in provincial election

Through the power of voice and education Chastity Davis-Alphonse is hopeful for change

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

White Rock RCMP Staff Sgt. Kale Pauls has released a report on mental health and policing in the city. (File photos)
White Rock’s top cop wants to bill local health authority for lengthy mental-health calls

‘Suggestion’ included in nine-page review calling for ‘robust’ support for healthcare-led response

A Le Chateau retail store is shown in Montreal on Wednesday July 13, 2016. Le Chateau Inc. says it is seeking court protection from creditors under the Companies’ Creditors Arrangement Act to allow it to liquidate its assets and wind down its operations.THE CANADIAN PRESS/Ryan Remiorz
Clothing retailer Le Chateau plans to close its doors, files for CCAA protection

Le Chateau said it intends to remain fully operational as it liquidates its 123 stores

Green party Leader Sonia Furstenau arrives to announce her party’s election platform in New Westminster, B.C., on October 14, 2020. THE CANADIAN PRESS/Jonathan Hayward
B.C. Green party says it’s raised nearly $835,000 in 38 days

NDP Leader John Horgan is holding his final virtual campaign event

Most Read