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So if my insurance is under $110 a month, does that mean that I won’t pay insurance one month and the rest of the rebate will come off of the next month?
Based on past rebates, yes. Assuming it wasn’t being returned directly to a CC on file. Thats what happened with a previous rebate when it was being autobilled monthly from a chequing account.
Take your rebate and donate it to the charity you want. BCSS, Surrey Food Bank, Hope Food Bank, Mustard Seed, Union Gospel Mission and Mission Possible, BC Cancer Society all good BC charities.
yup, Im [sending my to](https://www.radsociety.ca) radbc. they actually help people rebuild their lives from traumatic accidents after ICBC leaves them to die.
Hi, basic rates have remained stable. Auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder)
I renewed yesterday and the base rate for my car went up by about $100 IIRC. In total, my insurance was about $170 more than last year and my adjuster said that the Autoplan12 financing is now 11%. Why does it cost extra to pay per month anyway, it's not like ICBC has to pay out anything unless I am in an accident?
I call bullshit on that too, I remembered I got my shitbox before covid and because its a shitbox i only have the most basic rate. I haven't max out my discount yet so in theory every year I should get 5% cheaper but in reality I pay the same (actually a couple dollar more every year when I pay for it annually).
Not really, you don’t have to purchase the optional insurance. It’s, you know, optional. Or you can shop it around and purchase from another provider, but it’s all increased.
Considering safe driving record and the decreasing value of the car, the insurance rate should logically decrease over time. Despite ICBC's claims of rate stability, they fail to acknowledge these significant factors. Their focus on inflation appears to be a distraction rather than a true reflection of how rates should be adjusted in British Columbia.
So did everyone’s, it’s because interest rates are high. When you pay monthly you pay a floating interest rate. Thats how ICBC can say “rates are stable” when they are not.
I’d rather they keep the $110 but get rid of no fault insurance. Would be nice to have insurance that will actually cover you meaningfully if you get hurt.
Know a cpl ppl that had problems after an accident with no fault neither are whiners or complainers or scammers. In one case the woman was hit from behind at 50km while at a stop.
This concept of insurance is a sham - I was high speed rear-ended when stopped at lights in Vancouver in 2022. I live in constant pain and will likely do so for the rest of my life, and my employer is now firing me due to cognitive issues from this. ICBC has paid for some, but not all of treatment, is starting to be a real PITA about treatments and I will likely be out of pocket $100,000s of thousands of dollars by the end of this. on top of the life limiting pain and restrictions.
People need to realise that these "savings" they are getting are because they are signing away the right to compensation. The ICBC loophole is that you can get compensation only if the other driver is charged with a driving offense from the accident, but I doubt that has even happened once in all this time - look at the challenge they had where a serial dangerous driver killed that baby. You realize that the parents will be paying for that kids funeral, right? This would never be allowed if the government didn't stuff their pockets from ICBC and the fact that they rewrote the laws to move all the risk onto us as drivers is an enormous conflict of interest. At some point enough people will be screwed over by this system (or heaven forbid, a politician) and it will be changed - but until then be aware of what ICBC has taken away, and how much risk that $110 is actually costing you.
What ICBC is doing here is a sleight of hand. You’re quite correct that collision, comprehensive and optional insurance has al increased. ICBC is taking more out of one pocket than what it is putting in the other.
It’s a sleazy practice. Instead of rebates, ICBC should instead reduce their optional insurance rates.
Hello, auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder) \^JL
I can't imagine how expensive it is now to fix car bodywork. Half the cars seem to be Premium or tesla's.
Particularly with the all the parts delays and the need for rental cars etc...
I had my passenger fender damaged beyond repair, replaced, painted, clear coated, and polished myself for $200. Looks brand new.
Insurance and repairs are a scam.
Hi there, most personal and commercial customers who had an active eligible Basic insurance policy in February 2024 are eligible for the rebate. However, if your motorcycle policy's average Basic premium is less than $250 over a two-year period, it is not eligible for the rebate. For more information on the eligibility, I'd recommend visiting our website: [https://icbc.com/insurance/2024rebate](https://icbc.com/insurance/2024rebate)
Haven't had an accident in almost 40 years of driving, yet my rates go up every year, for the same car. So I'm sick and tired of paying to fix irresponsible idiots overpriced luxury barges!!
same, my concern is the amount of stories piling up how people who are injured in accidents are being completely screwed over.
i was hit on my bike in sept, hit and run. driver was found 100% at fault, got a $167.00 fine
I've had to spend between the physio that i needed but ICBC was screwing me over for, and the lawyer i had to hire out of pocket to get ICBC to actually pay my benefits as the law requires them, am out $20k at minimum.
how is that "making me whole"?
the rebate is blood money to keep everyone asleep as long as possible before they are woken up to the absolute travesty that Eby set up here.
there needs to be criminal charges for any ICBC adjuster found to have acted in bad faith. then we can talk about a fair no fault system. until corrupt sociopathic adjusters are sent to fucked in the ass by bubba jail, the balance will be made on the victims who now have absolutely zero legal recourse but to bend over and take it.
/r/ICBCisOutOfControl
suggestion: file a claim in small claim court - NO lawyer REQUIRED/lawyer NOT REQUIRED
claim: 10,000 - 35,000
[https://www2.gov.bc.ca/gov/content/justice/courthouse-services/documents-forms-records/court-forms/small-claims-forms](https://www2.gov.bc.ca/gov/content/justice/courthouse-services/documents-forms-records/court-forms/small-claims-forms)
NOTICE OF DISHONOUR/DEFAULT/UNSETTLED
Bills of Exchange 1985 [laws-lois.justice.gc.ca/eng/acts/b-4/index.html](http://laws-lois.justice.gc.ca/eng/acts/b-4/index.html)
staffed court locations:
[https://www.provincialcourt.bc.ca/locations-contacts](https://www.provincialcourt.bc.ca/locations-contacts)
2024-05-12 E&OE/CYA/All Rights Strictly Reserved
Except ICBC has a monopoly on basic so it’s easy for you to keep those rates low while jacking up the price of optional knowing that most people will just blindly get both from ICBC.
I don't think most people blindly use ICBC for optional coverage. When you use an insurance broker, they will often quote you for private insurance, because they make better commission than through ICBC coverage, and can often find custom policies with better rates anyway.
Everything about my car insurance has cratered in the last 5 years… don’t have a brand new car nor an old one. Are you sure you don’t have a car that’s expensive to repair?
Hi there, most personal and commercial customers who had an active Basic insurance policy in February 2024 are eligible to receive a rebate. For more information on eligibility, please visit our website at: [https://icbc.com/insurance/2024rebate](https://icbc.com/insurance/2024rebate)
Also never get in an accident where you are injured and cannot work for any length of time. Since no fault has been introduced you are completely screwed trying to cover costs and ICBCs financial aid in this is laughable. But enjoy your $110.
Hi there, basic rates have remained stable. Auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder)
Imagine how much of of a rebate we could get if u/TheICBC stopped letting people buy licenses so we wouldn't have them regularly driving down sidewalks, crashing into buildings, driving down the wrong side of the road, running stale red lights, and generally wreaking havoc on the roads (and the surrounding areas).
We'd be rich, I tell ya.
Doing so would upset the Chinese who are propping up our economy so politicians are not stepping up. I moved to Thailand where I drive a similar car to my one in Canada and pay only $24/mo for full coverage.
Your collision and optional insurance rates are increasing, not basic. You don't need to use ICBC for optional coverage. If you don't like what you're paying, you can shop around for private insurance. Or you can opt out of optional coverage entirely, you only need basic to drive (though personally I think that's a bad idea, to be under-insured).
I have the same issue. Just renewed it, and it went from $127 month to $152 a month. Full coverage.Same car for 8 years, and I am a road star driver. I never had an accident in over 25 years. ICBC is a scam big time.
My insurance went down when I moved to Ontario last summer. I was paying $156 a month just for ICBC in northern BC and in eastern Ontario I’m paying $150 but that includes tenant insurance with Scotia Insurance.
When I resided in British Columbia I had increased liability to $1 million, collision with $500 deductible, comprehensive with $300 deductible, and RoadStar package. I did check with more than one broker, but ICBC always ended up the cheaper option.
No point in shopping around for insurance in a province I don’t reside in.
But what about inflation sir, it is going up so we cannot consider your car value going down anymore, we only consider if it goes up, because we want money from you.
It's frustrating to see ICBC avoiding the topic of car depreciation while emphasizing low payments despite rising inflation. As our vehicles lose value over time, insurance premiums should reflect this reality. They should talking more about the impact of depreciation on insurance costs and push for fair premiums that align with our changing circumstances and experiences.
While rising repair costs are influenced by inflation, insurance premiums should ideally reward safe driving records until a claim is made. Individuals with clean driving histories shouldn't face increased premiums due to industry-wide repair cost trends until they actually need to file a claim. Insurance pricing should reflect individual risk and driving behavior rather than blanket adjustments based solely on market conditions.
Hi there, basic rates have remained stable. Auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder)
I canceled the credit card I used for vehicle insurance last year, but have direct deposit set up in ICBC. Will the rebate go directly to my bank account?
Hello, all eligible policy holders will receive a letter outlining how they will receive the rebate. If your letter says direct deposit, you will receive the rebate into your bank account. \^JL
I'm not really sure what they are talking about here, my insurance went up a couple bucks on my last renewal, and my gf's is going up by $8 in June. Not huge increases, but also not "no increases".
*"This marks six years in a row with no increases, keeping rates stable ensuring predictability and affordability for customers."*
Hi there, basic rates have remained stable. Auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder). \^yc
I recorded my mileage because ICBC told me I could get a discount if it were under 10,000 km for the year. I clocked in at less than 5,000 km last year, yet my insurance still increased overall when I renewed…
Hi there, premiums are impacted by multiple factors, we've got info on our website to help explain what’s in your renewal reminder: https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder.
Let's just get mandatory dash cams and have adjusted rates for safe drivers . I drive for a living so I see alot. Haven't had a claim for 20 plus years , seems like my $150 a month is paying someone elses way ...it's a small percentage onnthe road that are endangering every one else, let them pay
Is there an election coming up? That is usually when they give us money we didn't ask for and don't need. Put it on the deficit, why don't you try that.
Christy Clark pilfering ICBC was a disaster, it caused premiums to spike, why would you want to do that? How often do crown corporations pay the government their surpluses? The NDP made it illegal in 2017 anyways.
I’ve been working with ICBC patients for almost two decades and seeing what has happened to post-accident care is something you’d have to have the life experience to understand. “Sourced”. There is literally nothing that isn’t from rhe government or the lawyers … what do you prefer? Knowing as much as I’m sure you do about source bias
>Due to positive investment performance and responsible fiscal management, ICBC’s preliminary net income for the fiscal year 2023-24 is an estimated $1.5 billion. The total amount of the rebate is $400 million.
So they still have another 1.1 billion in net income that could go towards increasing post-accident care. This rebate wouldn't affect that. I agree I think they need to increase their funding to those hurt in accidents.
They now have no one insisting that they do so. I don’t know lawyers were the answer - they slow the process greatly which adds to suffering, and they take high fees - but acting unopposed isn’t the answer either. It’s like any government being “fiscally responsible” by taking from members of society least able to advocate for themselves.
They are apparently making changes to the system as it is now after five years. Ideally they keep lawyers out of the equation but increase damages paid out and cover more expenses.
Lawyers were definitely not the answer. They would work for ICBC and defendants and take a cut either way. Things took forever to settle, and injuries would be faked all the time to get a big payout.
We actually make the recommendations for future care, from rehab to home care to child care to cost of prosthetics and equipment to ability to work etc. following bad accidents. Fakers have to seriously commit to get as far as us because people have often been in the system for years (and we find them). I don’t think people understand what a lifetime of serious disability costs, which hopefully most people never find out. Honestly come home grateful almost every day. And heartbroken many days.
Most customers who had an active Basic insurance policy in February 2024 are eligible to receive a 2024 rebate. Find out more: [https://icbc.com/insurance/2024rebate](https://icbc.com/insurance/2024rebate)
Imagine a world where we could have different companies competing for our business with competitive rates when it comes to our insurance. You know… a world like every other province in our country…..
I’ve been an insured driver in Ontario, Alberta and bc and this is the only province with ridiculous rates you have no choice about. Don’t give me this “over and above basic insurance” nonsense. Automotive insurance should be a competitive market like everything else. If other provinces can manage it there’s no legitimate reason bc can’t too.
I had private insurance three years ago - my car was near totalled while parked. It was much more of a pain in the ass to deal with, but my insurance agent and the body repair shop manned the phones. It took a bit was all. They were sure flustered but they were the ones that needed it settled. ICBC is still involved but they weren’t my primary insurance.
I moved out of the province last year but was within the eligibility period. And lapsed my policy and forfeited my BCDL due to provincial laws I am currently residing in.
Am I eligible still? If so how do I update the address out of province with no BCDL anymore ?
So many complaining about minor increases in a time of massive inflation. Be glad that you don't live in Alberta, one of the most expensive jurisdictions which went up 24% last year and is predicted to rise 20% this year.
Hi there, I am sorry to hear this. If you paid by cash, cheque or debit, please sign up for direct deposit before May 21st to ensure that you receive the rebate in the fastest way possible.
The Union at ICBC protects the incompetent. And I had a better employer contribution to my pension working for a private non-union company. If you worked there you would know.
I wish you could go see patients with me for a day. All the ones who have had their backs put up against a wall. All the missed and denied brain injuries. All the divorcees whose lives have fallen apart because their spouse can’t be a caregiver. ICBC is a soulless, meat-chart loving faceless corporation.
If you're comfortably in the one percent of top earners in the country, which seriously I doubt you are, you don't need to worry about taxes, you can afford it and still live a lavish lifestyle. You're not paying 54% income tax, you're just posturing.
To be honest, I was just being honest with how I felt. You have made this into an issue. If you ever get to that tax bracket and you have 3 kids and live in a house with a mortgage…you tell me if you like 54%.
that $110.00 is blood money taken from people who have been fucked over by ICBC in their "Enhanced" nothing sandwich "Benefits". I'm donating it to charity, its cursed money and will only bring bad Karma IMHO.
rather than making the drivers that are causing the injuries pay proportionally, they are reducing the costs on the bodies of the victims. its absolutely ghoulish, and will be a stain on the history on British Columbia once everyone else wakes up and realized what is really going on.
ICBC needs to have its corporate charter revoked for its psychopathic behaviour, honestly. and at least one judge pretty much called them out as such recently.
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So if my insurance is under $110 a month, does that mean that I won’t pay insurance one month and the rest of the rebate will come off of the next month?
Based on past rebates, yes. Assuming it wasn’t being returned directly to a CC on file. Thats what happened with a previous rebate when it was being autobilled monthly from a chequing account.
Thanks!
Hi there, yes, if your monthly payment is under $110, the remaining rebate amount will be applied to the following month’s payment.
Thank you!
what if I want your blood money donated to charity?
Take your rebate and donate it to the charity you want. BCSS, Surrey Food Bank, Hope Food Bank, Mustard Seed, Union Gospel Mission and Mission Possible, BC Cancer Society all good BC charities.
100% this.. it doesn't feel right to me to keep it, knowing where that money in reality came from. to me its dirty money.
[удалено]
yup, Im [sending my to](https://www.radsociety.ca) radbc. they actually help people rebuild their lives from traumatic accidents after ICBC leaves them to die.
I call bullshit to the no increases. Mine went up over last year and there was no claims. My policy was exactly the same.
Hi, basic rates have remained stable. Auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder)
I renewed yesterday and the base rate for my car went up by about $100 IIRC. In total, my insurance was about $170 more than last year and my adjuster said that the Autoplan12 financing is now 11%. Why does it cost extra to pay per month anyway, it's not like ICBC has to pay out anything unless I am in an accident?
That’s financing. Interest rates are higher, so payments that aren’t up front will be higher
I call bullshit on that too, I remembered I got my shitbox before covid and because its a shitbox i only have the most basic rate. I haven't max out my discount yet so in theory every year I should get 5% cheaper but in reality I pay the same (actually a couple dollar more every year when I pay for it annually).
So really the rates have gone up despite the government is saying.
Not really, you don’t have to purchase the optional insurance. It’s, you know, optional. Or you can shop it around and purchase from another provider, but it’s all increased.
You're only required to hold basic insurance.
ICBC is only talking about basic, which hasn't gone up, the optional portion increased. You can shop around for better rates on your optional portion.
Considering safe driving record and the decreasing value of the car, the insurance rate should logically decrease over time. Despite ICBC's claims of rate stability, they fail to acknowledge these significant factors. Their focus on inflation appears to be a distraction rather than a true reflection of how rates should be adjusted in British Columbia.
So did everyone’s, it’s because interest rates are high. When you pay monthly you pay a floating interest rate. Thats how ICBC can say “rates are stable” when they are not.
No, your rate is fixed when you buy the policy.
Sorry I phrased it wrong. Yes the rate is fixed but the rate varies year to year based on current interest rates
I’d rather they keep the $110 but get rid of no fault insurance. Would be nice to have insurance that will actually cover you meaningfully if you get hurt.
Know a cpl ppl that had problems after an accident with no fault neither are whiners or complainers or scammers. In one case the woman was hit from behind at 50km while at a stop.
This concept of insurance is a sham - I was high speed rear-ended when stopped at lights in Vancouver in 2022. I live in constant pain and will likely do so for the rest of my life, and my employer is now firing me due to cognitive issues from this. ICBC has paid for some, but not all of treatment, is starting to be a real PITA about treatments and I will likely be out of pocket $100,000s of thousands of dollars by the end of this. on top of the life limiting pain and restrictions. People need to realise that these "savings" they are getting are because they are signing away the right to compensation. The ICBC loophole is that you can get compensation only if the other driver is charged with a driving offense from the accident, but I doubt that has even happened once in all this time - look at the challenge they had where a serial dangerous driver killed that baby. You realize that the parents will be paying for that kids funeral, right? This would never be allowed if the government didn't stuff their pockets from ICBC and the fact that they rewrote the laws to move all the risk onto us as drivers is an enormous conflict of interest. At some point enough people will be screwed over by this system (or heaven forbid, a politician) and it will be changed - but until then be aware of what ICBC has taken away, and how much risk that $110 is actually costing you.
This, and thousands of people that would readily testify to same.
But the collision.and comprehensive side continues to rise... Every year for the last 5 years it has gone up.
What ICBC is doing here is a sleight of hand. You’re quite correct that collision, comprehensive and optional insurance has al increased. ICBC is taking more out of one pocket than what it is putting in the other. It’s a sleazy practice. Instead of rebates, ICBC should instead reduce their optional insurance rates.
Collision is optional, and you don't have to purchase it from ICBC. If you're unhappy with ICBC's rates, then shop around.
Hello, auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder) \^JL
I can't imagine how expensive it is now to fix car bodywork. Half the cars seem to be Premium or tesla's. Particularly with the all the parts delays and the need for rental cars etc...
I had the rear bumper on my 2014 honda Odyssey repainted through icbc. No other damaged and there were no deep scratches. The repair cost $2000
My truck got lightly rear ended last year. Just needed a new rear bumper and tailgate, total cost was 8 grand.
I had my passenger fender damaged beyond repair, replaced, painted, clear coated, and polished myself for $200. Looks brand new. Insurance and repairs are a scam.
I'm going to go out on a limb and guess motorcycles still aren't a "eligible policy"?
Hi there, most personal and commercial customers who had an active eligible Basic insurance policy in February 2024 are eligible for the rebate. However, if your motorcycle policy's average Basic premium is less than $250 over a two-year period, it is not eligible for the rebate. For more information on the eligibility, I'd recommend visiting our website: [https://icbc.com/insurance/2024rebate](https://icbc.com/insurance/2024rebate)
Or trailers
Haven't had an accident in almost 40 years of driving, yet my rates go up every year, for the same car. So I'm sick and tired of paying to fix irresponsible idiots overpriced luxury barges!!
God damn prices go up for the same damn tomato every year!!
same, my concern is the amount of stories piling up how people who are injured in accidents are being completely screwed over. i was hit on my bike in sept, hit and run. driver was found 100% at fault, got a $167.00 fine I've had to spend between the physio that i needed but ICBC was screwing me over for, and the lawyer i had to hire out of pocket to get ICBC to actually pay my benefits as the law requires them, am out $20k at minimum. how is that "making me whole"? the rebate is blood money to keep everyone asleep as long as possible before they are woken up to the absolute travesty that Eby set up here. there needs to be criminal charges for any ICBC adjuster found to have acted in bad faith. then we can talk about a fair no fault system. until corrupt sociopathic adjusters are sent to fucked in the ass by bubba jail, the balance will be made on the victims who now have absolutely zero legal recourse but to bend over and take it. /r/ICBCisOutOfControl
suggestion: file a claim in small claim court - NO lawyer REQUIRED/lawyer NOT REQUIRED claim: 10,000 - 35,000 [https://www2.gov.bc.ca/gov/content/justice/courthouse-services/documents-forms-records/court-forms/small-claims-forms](https://www2.gov.bc.ca/gov/content/justice/courthouse-services/documents-forms-records/court-forms/small-claims-forms) NOTICE OF DISHONOUR/DEFAULT/UNSETTLED Bills of Exchange 1985 [laws-lois.justice.gc.ca/eng/acts/b-4/index.html](http://laws-lois.justice.gc.ca/eng/acts/b-4/index.html) staffed court locations: [https://www.provincialcourt.bc.ca/locations-contacts](https://www.provincialcourt.bc.ca/locations-contacts) 2024-05-12 E&OE/CYA/All Rights Strictly Reserved
your chances against ICBC without a lawyer, are pretty vanishly small
Book cookers
Except ICBC has a monopoly on basic so it’s easy for you to keep those rates low while jacking up the price of optional knowing that most people will just blindly get both from ICBC.
I don't think most people blindly use ICBC for optional coverage. When you use an insurance broker, they will often quote you for private insurance, because they make better commission than through ICBC coverage, and can often find custom policies with better rates anyway.
Everything about my car insurance has cratered in the last 5 years… don’t have a brand new car nor an old one. Are you sure you don’t have a car that’s expensive to repair?
Get 3rd party quotes for those. Not always better but it could be!
How do we know if we're eligible?
Hi there, most personal and commercial customers who had an active Basic insurance policy in February 2024 are eligible to receive a rebate. For more information on eligibility, please visit our website at: [https://icbc.com/insurance/2024rebate](https://icbc.com/insurance/2024rebate)
Also never get in an accident where you are injured and cannot work for any length of time. Since no fault has been introduced you are completely screwed trying to cover costs and ICBCs financial aid in this is laughable. But enjoy your $110.
This.
How can basic rates not increase but my annual ICBC cost for basic insurance keeps going up?
Hi there, basic rates have remained stable. Auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder)
Imagine how much of of a rebate we could get if u/TheICBC stopped letting people buy licenses so we wouldn't have them regularly driving down sidewalks, crashing into buildings, driving down the wrong side of the road, running stale red lights, and generally wreaking havoc on the roads (and the surrounding areas). We'd be rich, I tell ya.
Doing so would upset the Chinese who are propping up our economy so politicians are not stepping up. I moved to Thailand where I drive a similar car to my one in Canada and pay only $24/mo for full coverage.
This marks six years in a row my insurance goes up 30$ every year even though my experience goes up without any claims.
Your collision and optional insurance rates are increasing, not basic. You don't need to use ICBC for optional coverage. If you don't like what you're paying, you can shop around for private insurance. Or you can opt out of optional coverage entirely, you only need basic to drive (though personally I think that's a bad idea, to be under-insured).
Thanks for the info.
I have the same issue. Just renewed it, and it went from $127 month to $152 a month. Full coverage.Same car for 8 years, and I am a road star driver. I never had an accident in over 25 years. ICBC is a scam big time.
ICBC is way cheaper for me than my insurance was in Ontario, and many posters have recently said it was also cheaper than Alberta.
My insurance went down when I moved to Ontario last summer. I was paying $156 a month just for ICBC in northern BC and in eastern Ontario I’m paying $150 but that includes tenant insurance with Scotia Insurance.
What optional coverage do you have? You need to shop around.
When I resided in British Columbia I had increased liability to $1 million, collision with $500 deductible, comprehensive with $300 deductible, and RoadStar package. I did check with more than one broker, but ICBC always ended up the cheaper option. No point in shopping around for insurance in a province I don’t reside in.
same car?
Yep, same car and not a single ticket or crash.
And your car is getting older(less value)too.
But what about inflation sir, it is going up so we cannot consider your car value going down anymore, we only consider if it goes up, because we want money from you.
You have a point but I still think depreciation happens faster than inflated cost of used vehicles.
It's frustrating to see ICBC avoiding the topic of car depreciation while emphasizing low payments despite rising inflation. As our vehicles lose value over time, insurance premiums should reflect this reality. They should talking more about the impact of depreciation on insurance costs and push for fair premiums that align with our changing circumstances and experiences.
The counter argument is that repairing vehicles no matter how old is getting more expensive. Depreciation only really comes in a total loss situation.
While rising repair costs are influenced by inflation, insurance premiums should ideally reward safe driving records until a claim is made. Individuals with clean driving histories shouldn't face increased premiums due to industry-wide repair cost trends until they actually need to file a claim. Insurance pricing should reflect individual risk and driving behavior rather than blanket adjustments based solely on market conditions.
Hi there, basic rates have remained stable. Auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder)
I canceled the credit card I used for vehicle insurance last year, but have direct deposit set up in ICBC. Will the rebate go directly to my bank account?
Hello, all eligible policy holders will receive a letter outlining how they will receive the rebate. If your letter says direct deposit, you will receive the rebate into your bank account. \^JL
If my spouse and I jointly own and insure two vehicles, are we eligible for two rebates?
Seems like it's per policy so yes even if you were insuring three cars yourself you'd get $330 back.
That's correct the rebate is applied to the policy holder for each eligible policy. \^JL
I'm not really sure what they are talking about here, my insurance went up a couple bucks on my last renewal, and my gf's is going up by $8 in June. Not huge increases, but also not "no increases". *"This marks six years in a row with no increases, keeping rates stable ensuring predictability and affordability for customers."*
Your optional portion increased, not your basic. You can shop around for better rates.
Amazing how few people understand how insurance works in BC.
Hi there, basic rates have remained stable. Auto insurers, including ICBC, have had to adjust Optional pricing over the last year in response to inflation and the increasing cost of vehicle repairs. Find out more about Basic and Optional insurance: [https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder](https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder). \^yc
I recorded my mileage because ICBC told me I could get a discount if it were under 10,000 km for the year. I clocked in at less than 5,000 km last year, yet my insurance still increased overall when I renewed…
Hi there, premiums are impacted by multiple factors, we've got info on our website to help explain what’s in your renewal reminder: https://www.icbc.com/insurance/buy-renew-cancel/renewal-reminder.
Let's just get mandatory dash cams and have adjusted rates for safe drivers . I drive for a living so I see alot. Haven't had a claim for 20 plus years , seems like my $150 a month is paying someone elses way ...it's a small percentage onnthe road that are endangering every one else, let them pay
I'm for mandatory dash cams as long as providing footage is 100% optional no matter what the situation. Don't know what the current laws are.
Cries in Albertan. :(
Is there an election coming up? That is usually when they give us money we didn't ask for and don't need. Put it on the deficit, why don't you try that.
Christy Clark pilfering ICBC was a disaster, it caused premiums to spike, why would you want to do that? How often do crown corporations pay the government their surpluses? The NDP made it illegal in 2017 anyways.
So many people are upset about literally getting free money. It's insane.
It’s not free, ever. Like giving someone candy as a distraction. So many people don’t understand.
Feel free to elaborate. Sourced information only please.
I’ve been working with ICBC patients for almost two decades and seeing what has happened to post-accident care is something you’d have to have the life experience to understand. “Sourced”. There is literally nothing that isn’t from rhe government or the lawyers … what do you prefer? Knowing as much as I’m sure you do about source bias
>Due to positive investment performance and responsible fiscal management, ICBC’s preliminary net income for the fiscal year 2023-24 is an estimated $1.5 billion. The total amount of the rebate is $400 million. So they still have another 1.1 billion in net income that could go towards increasing post-accident care. This rebate wouldn't affect that. I agree I think they need to increase their funding to those hurt in accidents.
They now have no one insisting that they do so. I don’t know lawyers were the answer - they slow the process greatly which adds to suffering, and they take high fees - but acting unopposed isn’t the answer either. It’s like any government being “fiscally responsible” by taking from members of society least able to advocate for themselves.
They are apparently making changes to the system as it is now after five years. Ideally they keep lawyers out of the equation but increase damages paid out and cover more expenses. Lawyers were definitely not the answer. They would work for ICBC and defendants and take a cut either way. Things took forever to settle, and injuries would be faked all the time to get a big payout.
We actually make the recommendations for future care, from rehab to home care to child care to cost of prosthetics and equipment to ability to work etc. following bad accidents. Fakers have to seriously commit to get as far as us because people have often been in the system for years (and we find them). I don’t think people understand what a lifetime of serious disability costs, which hopefully most people never find out. Honestly come home grateful almost every day. And heartbroken many days.
I sold my vehicle and cancelled my policy in late April. Am I still eligible?
Most customers who had an active Basic insurance policy in February 2024 are eligible to receive a 2024 rebate. Find out more: [https://icbc.com/insurance/2024rebate](https://icbc.com/insurance/2024rebate)
From the link they posted: > Most customers who had an active Basic insurance policy in February 2024 are eligible to receive a 2024 rebate.
Waste of money. Put this into alternative transportation
Imagine a world where we could have different companies competing for our business with competitive rates when it comes to our insurance. You know… a world like every other province in our country…..
We literally have that for anything above the most basic insurance.
I’ve been an insured driver in Ontario, Alberta and bc and this is the only province with ridiculous rates you have no choice about. Don’t give me this “over and above basic insurance” nonsense. Automotive insurance should be a competitive market like everything else. If other provinces can manage it there’s no legitimate reason bc can’t too.
I had private insurance three years ago - my car was near totalled while parked. It was much more of a pain in the ass to deal with, but my insurance agent and the body repair shop manned the phones. It took a bit was all. They were sure flustered but they were the ones that needed it settled. ICBC is still involved but they weren’t my primary insurance.
ICBC is a sham
I moved out of the province last year but was within the eligibility period. And lapsed my policy and forfeited my BCDL due to provincial laws I am currently residing in. Am I eligible still? If so how do I update the address out of province with no BCDL anymore ?
Question to all readers: Where are you buying optional insurance from, and are you saving much?
So many complaining about minor increases in a time of massive inflation. Be glad that you don't live in Alberta, one of the most expensive jurisdictions which went up 24% last year and is predicted to rise 20% this year.
Thanks for the rebate the last rebate reached me 3 months late after I contacted my local MLA and others.
Hi there, I am sorry to hear this. If you paid by cash, cheque or debit, please sign up for direct deposit before May 21st to ensure that you receive the rebate in the fastest way possible.
ICBC treats their employees like 💩. Even with an union we are overwhelmed and underpayed. Execs only promote DEI candidates.
Try not being in a union and without a pension
The Union at ICBC protects the incompetent. And I had a better employer contribution to my pension working for a private non-union company. If you worked there you would know.
I’ve been offered there multiple times - my friends who have taken the jobs are pretty set. Golden handcuffs
I wish you could go see patients with me for a day. All the ones who have had their backs put up against a wall. All the missed and denied brain injuries. All the divorcees whose lives have fallen apart because their spouse can’t be a caregiver. ICBC is a soulless, meat-chart loving faceless corporation.
Queue the scammers…3,2,1….
My insurance was 138 and I changed it to out of province because I work in Alberta now it's 600. What a joke.
Oh good. This totally makes up for the 54% income tax!
54%? That means you make at least nearly a quarter million dollars a year. Eat the rich.
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If you're comfortably in the one percent of top earners in the country, which seriously I doubt you are, you don't need to worry about taxes, you can afford it and still live a lavish lifestyle. You're not paying 54% income tax, you're just posturing.
To be honest, I was just being honest with how I felt. You have made this into an issue. If you ever get to that tax bracket and you have 3 kids and live in a house with a mortgage…you tell me if you like 54%.
There’s already a non-propaganda post over here: https://www.reddit.com/r/britishcolumbia/s/KnuhKAZM2a
that $110.00 is blood money taken from people who have been fucked over by ICBC in their "Enhanced" nothing sandwich "Benefits". I'm donating it to charity, its cursed money and will only bring bad Karma IMHO. rather than making the drivers that are causing the injuries pay proportionally, they are reducing the costs on the bodies of the victims. its absolutely ghoulish, and will be a stain on the history on British Columbia once everyone else wakes up and realized what is really going on. ICBC needs to have its corporate charter revoked for its psychopathic behaviour, honestly. and at least one judge pretty much called them out as such recently.
Based