EU Bans gender-base insurances

[Bonam]

I understand the frustration. Its just that i dont thihnk you grasp the magnitude of coverage you would receive, the dollars spent on your behalf as mandated by the Ministry in the case of a serious accident.

It is not a personal afront.

I do understand the costs in the case of a serious accident. I also understand the statistical probability of such an accident. And I also understand that I can get equivalent insurance much cheaper in the US, which is what the original point of contention was. Insurance in BC is substantially overpriced, likely as a result of excessive overhead and bureaucracy at ICBC and a lack of private competition.

And there is the beauty of the free market system. You can pick and choose who you want.....well , here you can anyway.

Not in BC. You must purchase the basic coverage from the government insurance monopoly. One of the reasons why prices are so high.

You guys all seem to be missing the point. I am not saying that insurance is worthless or that liability insurance should not be required to some extent. What I am saying is that the prices for such insurance are very high in BC and you can get the EXACT SAME INSURANCE with the exact same coverage elsewhere at much lower rates. I can understand why the insurance broker would not want to admit this, but everyone else? I don't see why this would be particularly hard for people here to accept, it seems almost a given, since just about everything else is also cheaper in the US. Don't believe me? Go online and run some quotes.

[guyser]

What I am saying is that the prices for such insurance are very high in BC and you can get the EXACT SAME INSURANCE with the exact same coverage elsewhere at much lower rates. I can understand why the insurance broker would not want to admit this, but everyone else? .

The simple truth as I have laid out, is that you cannot get the exact same coverage at much lower rates.

Washington State as I have examined does not offer an increase to the basic level as respects Accident Benefits as ICBC. If you would care to show me to back up your point be my guest.

[fellowtraveller]

Regarding the OP (anybody remember the OP?), it seems ridiculous to eliminate 'discrimination' between genders for insurance purposes. Some groups are higher risks and should pay higher premiums. Teenage male drivers have much worse risk than middle aged women, yet those women will be obliged to pay extra because... it is politically correct.

Long ago Saskatchewan had an interting take on insurance, which was govt run. The govt insured the vehicle, not the driver. That meant that every year your insurance on the same vehicle would drop a little bit, as the vehicle depreciated in value. The drop was offset by increases in repair costs, but eventually it would be fully depreciated and insurance would be very cheap indeed. But wait a second, what about bad drivers? They accounted for this by having annual renewal of drivers licenses, and any traffic violations during the year meant your renewal fee went up dramatically and stayed up for a few years. An annual renewal that normally cost $25 might be several hundred or a couple thousand dollars.

I don't know if they still do this.