By CKPGToday

BC Government Receives Feedback On Fairer Insurance Rates

May 17, 2018 | 3:13 PM

VICTORIA – After receiving feedback from British Columbians, the Province is working towards making auto insurance rates more fair for drivers. About 82 percent of British Columbians believe dangerous drivers should pay more.

“Changes to our auto insurance rating system are long overdue,” said Attorney General David Eby. “The responses from the ICBC rate fairness engagement indicate the majority of British Columbians favour changes that will make insurance more affordable for low-risk drivers and see high-risk drivers pay increased insurance premiums to better reflect the risks they represent.”

The feedback also shows that many people agree that the option to pay back claims should be changed, a driver-based system would be more fair, since insurance rates would be associated with drivers, instead of vehicle owners and driving convictions should play a greater role in premiums.

To start off, the government will ask ICBC to bring forward increases to the Driver Risk Premium (DRP) program, which includes excessive speeding, impaired driving and distracted driving, as well as the Driver Penalty Point (DPP) program for minor driving violations.

The increases are expected to be in effect as early as fall 2018. Once in place, penalties will increase by 20 percent in the first year and another 20 percent hike in the next year, to ensure drivers are paying an appropriate amount that reflects their driving behaviours.

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“While moving quickly to implement changes for dangerous driving, we are also using this feedback to inform additional changes in the coming months to help make rates more fair for drivers,” said Eby. “This feedback will help ensure our improved auto insurance rating system is consistent with the values of British Columbians.”