How to Hurt ICBC

[Riverwind]

This is what gets me about ICBC, they never reduce rates on compulsory insurance where they have a monopoly, only on optional insurance where they have competition.

ICBC rates are regulated. Regulated prices rarely go down but they never shoot up either.

[Wilber]

ICBC rates are regulated. Regulated prices rarely go down but they never shoot up either.

First I've heard but if so, why do they never ask the regulators if they can lower them? Bottom line is, they only lower rates where they have competition.

[Oleg Bach]

First line of defense all insurance companies have against claim seekers ...is "sorry that is not covered" - 90% of the people will simply believe them and go away...BUT if you dive into the fine print there usually is some sort of reward for injury...If I owe you money - all I have to say - is - sorry I don't have it"---and the poor trusting soul simply goes away.. Then I profit - YOU must put their feet to the fire - I pay for coverage - you pay up when I need it ...keep it simple - forget all the fancey talk.

[manighale]

Hi,

I am new to this forum. I am being victimized by ICBC. My friend who was assigned second driver crashed old $800 vehicle in his house damaging $110,000. I did not want to pay to towing company to retrieve vehicle when it was impounded by police and did not want to pay that was about $400 at the time. When I tried to cancel the insurance, they wouldn't because I did not have the license plate and the tow company wouldn't give me without making the full payment. Now the insurance kept adding up to the date the insurance term was expired. They asked me to get the proof of crash and I did but now they are telling me that I need to bring the proof of total loss. The vehicle crash was in 2011. Now they are asking me to pay some thing like $900 or they won't renew my license! I need license for my job but 1) I can not afford to pay 2) My friend owed me some where around $1500 and he passed away about a year and half ago.

Any idea from any one would be very much appreciated as I am so frustrated as I feel that it is unfair to me to pay for insurance which I should have been able to cancel on the day the vehicle was crashed. I ran around the police, autoplan and ICBC so much and today, I spoke to one of their supervisor and he said to bring the proof of total loss which I can't. Today, I felt why some good people all of a sudden become a criminal but I can't because I have two kids to look after...

[The_Squid]

Hi,

I am new to this forum. I am being victimized by ICBC. My friend who was assigned second driver crashed old $800 vehicle in his house damaging $110,000. I did not want to pay to towing company to retrieve vehicle when it was impounded by police and did not want to pay that was about $400 at the time. When I tried to cancel the insurance, they wouldn't because I did not have the license plate and the tow company wouldn't give me without making the full payment. Now the insurance kept adding up to the date the insurance term was expired. They asked me to get the proof of crash and I did but now they are telling me that I need to bring the proof of total loss. The vehicle crash was in 2011. Now they are asking me to pay some thing like $900 or they won't renew my license! I need license for my job but 1) I can not afford to pay 2) My friend owed me some where around $1500 and he passed away about a year and half ago.

Any idea from any one would be very much appreciated as I am so frustrated as I feel that it is unfair to me to pay for insurance which I should have been able to cancel on the day the vehicle was crashed. I ran around the police, autoplan and ICBC so much and today, I spoke to one of their supervisor and he said to bring the proof of total loss which I can't. Today, I felt why some good people all of a sudden become a criminal but I can't because I have two kids to look after...

Pay up. You can't weasel out of what you owe. You're responsible for the costs.

[Topaz]

Why didn't u place a claim against the friends estate or was he too poor to pay?

[TimG]

Any idea from any one would be very much appreciated as I am so frustrated as I feel that it is unfair to me to pay for insurance which I should have been able to cancel on the day the vehicle was crashed.

This statement makes no sense. You have nothing to gain by cancelling the insurance because you were the registered owner of the car at the time of the accident and all liability for the accident will fall on you even if cancel the insurance. This includes the cost of any towing.

A warning for those in BC: if you sell a used car and let the buyer submit the forms to ICBC and they fail to do so then you remain responsible for the vehicle if it is abandoned or used in a crime because you are the registered owner until that form is submitted even if someone else paid to insure it.

[overthere]

The poor fellow who turned left in front of me has Alberta insurance. They are refusing to cover him because he moved here two weeks prior to the accident and didn't inform them yet...

That is not true about Alberta, you have 90 days to transfer your insurance to your new province or new insurer if you change insurers, though there is no need to transfer if you move to a province with private insurance where your company operates.

He is blowing smoke up your ass.

Edited November 26, 2015 by overthere

[overthere]

I was told when I had my accident that the RCMP were insured by the Crown. It may mean "no insurance at all", or it may be a different insurance, because the RCMP isn't provincial, while ICBC is. I don't know. I actually don't believe you though.

You can not believe me too.

The Feds: RCMP, DND and all government entities are 'self-insured' which means they don't have any in the usual sense. They consider themselves a level above and exempt from strict provincial laws about carrying insurance. They do have provincial vehicle registration and license plates on most vehicles.

[Wilber]

My problem with ICBC is that government mission creep has taken what was supposed to be a public auto insurance plan and turned into the god of everything automotive in the province. They control insurance, licensing and to a large degree, regulation and enforcement, plus the government uses their power over motorists to enforce things that have nothing to do with motor vehicles by denying you licensing and insurance. This is not what people voted for when they first elected a government promising to bring in public insurance.

[Wilber]

You can not believe me too.

The Feds: RCMP, DND and all government entities are 'self-insured' which means they don't have any in the usual sense. They consider themselves a level above and exempt from strict provincial laws about carrying insurance. They do have provincial vehicle registration and license plates on most vehicles.

Most police departments don't carry motor vehicle insurance. I'm not even sure if they can get it and if they could, It would be so expensive for them that they figure taking their own liability costs them less in the long run anyway. Governments can do that because they have the tax payer to back them up.

[freeloader1969]

...If you crash your car, don't expect me to pay for it through increased premiums for EVERYONE.

We all pay, period. Insurance is a pooled resource. That's why insurance companies will cancel people's policies who've had too many claims. It's their way of weeding out the fraudsters and bad drivers.

[ReeferMadness]

I've known several people who have had long and drawn out fights over claims with ICBC. Nothing like having to sue your own insurance company.

On the flip side, ICBC deals with a lot of fraud artists. I knew a guy who had a nice safe union job and was suing ICBC for an accident that happened years previous. He was only able to work part time because his injury was bothering him. Once his claim gets settled, he's suddenly able to work full time. Then he quits his safe union job to work independently where he has no extended medical benefits, sick leave or disability insurance. It's pretty hard to prove fraud in cases like this but you have to look and shake your head.

One thing that irks me about ICBC is that they only ever drop rates on optional insurance where they have competition, never the compulsory liability where they have a monopoly.

ICBC's mandatory insurance is regulated by BCUC and the business is supposed to be run to break even over the long run. There are 2 factors that negatively affect ICBC's rates that are beyond its control:

1. BC is one of the few jurisdictions that run on a full tort system (meaning there is no limit to damages that can be awarded, other than the limit of the insurance).

2. ICBC is an insurer of last resort. Unlike private insurers they must insure everyone.

I also think it is time they changed their name to The Mother of All Things Automotive. They started out as a government insurance company but over the years government has made them the whole motor vehicle branch, in charge of licensing and everything else to do with vehicles. I believe this is a bad thing because they determine the rules under which they will operate.

Many of the rules are set by the Office of the Superintendent of Motor Vehicles (OSMV) for drivers and the Ministry of Transportation for vehicles.

As far as the US goes, it is because of a legal system that allows such things to happen. You can always go to a no fault system which is essentially what ICBC is because they have a monopoly on basic liability.

BC does not have no fault insurance. Quite the opposite, it is a full tort jurisdiction.

Edited November 27, 2015 by ReeferMadness

[ReeferMadness]

If you really want to hurt ICBC, here's how you do it. Contact the Ministry of Transportation and the Superintendent of Motor Vehicles and demand that they work on regulations for self driving cars. The overwhelming majority of accidents are caused by drivers and are therefore avoidable. Once you get drivers out of the cars, the accident rates will plummet and insurance rates will need to plummet with them. ICBC will no longer make economic sense and with its reason for existence gone, it will disappear.

Sure, it will take a while, but I would say it's inevitable. People just aren't very good drivers. They're easily distracted and prone to risk taking.