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Thread: ICBC projected to lose 1.3 billion during fiscal 2017

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    Default ICBC projected to lose 1.3 billion during fiscal 2017

    https://bc.ctvnews.ca/mobile/icbc-po...year-1.3779081

    Hahaha how does one province pay so much for insurance yet lose so much money annually.
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    Quote Originally Posted by dirtsniffer View Post
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    Hahaha how does one province pay so much for insurance yet lose so much money annually.
    Government run.

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    I remember paying significantly less for insurance when I was in BC as a youngin' than I would have in Alberta. So much so I delayed switching over as long as possible when I moved back.

    So situations like that where a sub-25 driver can pay so little probably has something to do with it.

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    Id love to see the actual stats instead of "increase in collisions"..... are they correlated with the number of insured vehicles in the province?

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    I moved to Alberta at 18. My insurance in BC was $60/m. In alberta, for the same vehicle and same coverage, it was $550/m. Vehicle was worth $2000. Totally clean abstract and insurance record.

    That could contribute to why BC is losing money, but really it just makes me think "fuck Alberta".
    I can eat more hot wings than you.

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    Increase of $130/vehicle.

    That's pretty much I got hit with in Alberta on my 2018 renewals.

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    Quote Originally Posted by CompletelyNumb View Post
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    I moved to Alberta at 18. My insurance in BC was $60/m. In alberta, for the same vehicle and same coverage, it was $550/m. Vehicle was worth $2000. Totally clean abstract and insurance record.

    That could contribute to why BC is losing money, but really it just makes me think "fuck Alberta".
    My insurance when I was 18 was $200 a month. Vehicle also worth nothing. Not full coverage

    My wife paid 350 a month after a $20000 claim on a newish vehicle. Full coverage
    Last edited by dirtsniffer; 01-28-2018 at 08:39 PM.
    Quote Originally Posted by Gestalt View Post
    Im the one with a learning disability....

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    Quote Originally Posted by revelations View Post
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    Id love to see the actual stats instead of "increase in collisions"..... are they correlated with the number of insured vehicles in the province?
    I did some snooping and for 2015, BC had more than double the number of collisions and more than triple the number injuries/fatalities as compare to Alberta while only being about 12% larger in population. What gives?

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    Quote Originally Posted by dirtsniffer View Post
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    My insurance when I was 18 was $200 a month. Vehicle also worth nothing. Not full coverage
    Wish I had your broker back then. I was told that as a male under 25 who was new to Alberta, i was fucked. Called several places, all about the same. Took until I was 25 to get it under 200.
    I can eat more hot wings than you.

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    Quote Originally Posted by speedog View Post
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    I did some snooping and for 2015, BC had more than double the number of collisions and more than triple the number injuries/fatalities as compare to Alberta while only being about 12% larger in population. What gives?
    Thats just retarded. I know the mainlanders are bad drivers, but holy shit.

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    Asians with really nice cars. Lol grew up there.

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    Quote Originally Posted by revelations View Post
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    Thats just retarded. I know the mainlanders are bad drivers, but holy shit.
    Probably a combination of shit drivers and expensive to repair cars.

    Joke is if you want some soft tissue claims, just hang around parking lots in Richmond.

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    Quote Originally Posted by Xtrema View Post
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    Probably a combination of shit drivers and expensive to repair cars.

    Joke is if you want some soft tissue claims, just hang around parking lots in Richmond.
    Or, in my case, take a motorcycle for a slow, quiet ride on River road and wait for a left turner to turn in front of you, on an empty road at night.

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    Obviously going to win. Trump lost $915 million.

    Losing money seems to be the way to win nowadays.
    Combustion engine cars - Bwahaha.

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    Quote Originally Posted by kertejud2 View Post
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    I remember paying significantly less for insurance when I was in BC as a youngin' than I would have in Alberta. So much so I delayed switching over as long as possible when I moved back.

    So situations like that where a sub-25 driver can pay so little probably has something to do with it.
    Quote Originally Posted by CompletelyNumb View Post
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    I moved to Alberta at 18. My insurance in BC was $60/m. In alberta, for the same vehicle and same coverage, it was $550/m. Vehicle was worth $2000. Totally clean abstract and insurance record.

    That could contribute to why BC is losing money, but really it just makes me think "fuck Alberta".
    Yea that was many years ago when that's the case. In Alberta, ever since the grid system was introduced to cut a break to new high risk drivers, our average premiums have more than doubled and became more expensive than BC (for a typical good driver). If you were paying $550/m as a new driver, that's definitely prior to grid.

    In BC, bad drivers will still have affordable rates compared to Alberta where after a couple accidents, so there's a huge premium gap there today.
    Originally posted by SEANBANERJEE
    I have gone above and beyond what I should rightfully have to do to protect my good name

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    $550 a month? Good grief. Not sure how long ago that was but I was never even remotely close to that when I started driving here in Alberta in 2005.

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    Quote Originally Posted by Xtrema View Post
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    Probably a combination of shit drivers and expensive to repair cars.

    Joke is if you want some soft tissue claims, just hang around parking lots in Richmond.
    That's not a joke, that's reality!! I get a little paranoid visiting my Dad/Step Mom in Richmond for that reason.

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    Quote Originally Posted by lasimmon View Post
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    $550 a month? Good grief. Not sure how long ago that was but I was never even remotely close to that when I started driving here in Alberta in 2005.
    I was paying $200 a month in BC when I got my license. Had an at fault accident and it went to $300. Moved to Alberta and the lowest rate I could find was also over $500 a month.

    I took the bus for a couple of years. (this was late 90's)

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    Quote Originally Posted by lasimmon View Post
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    $550 a month? Good grief. Not sure how long ago that was but I was never even remotely close to that when I started driving here in Alberta in 2005.
    Grid was introduced in 2004. Anything before that, $6k a year for PLPD was the norm for new drivers regardless of vehicle or age of driver. Took 7 years of clean driving to get down to good driver average, which was around $300/year back then.

    You kids have it easy haha.
    Originally posted by SEANBANERJEE
    I have gone above and beyond what I should rightfully have to do to protect my good name

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