832 replies to this topic

[RFS]

Several years ago I got some insurance estimates from insurers in Alberta to compare with ICBC. They came back at 2-6 times what I was paying here at the time.

This fallacy that everything would be better with private insurance has to stop.

Are those quotes based on living and driving in BC but insuring in Alberta? Because that could skew things. Anecdotally everyone I know in Alberta claims to pay far, far less than we pay here

[VicHockeyFan]

Can we start with scrapping the antiquated Autoplan Broker system.  Why do we keep paying commission to all these places when most people just keep insuring their cars with the same coverage every year.  There is a thing called the internet now.

 

I can register a BC company online, and then open its bank account online, then just a pop in with ID and signature to the bank.

 

You'd think I could renew my insurance...

[sebberry]

Nope, I picked a seemingly safe neighborhood for living and driving in for the insurance quotes.  

 

Possibly as a high-risk driver*, they thought they'd better soak me for all they could.

 

(*young male - ergo: high risk.  Never mind never having had a ticket or crash)

[VicHockeyFan]

Several years ago I got some insurance estimates from insurers in Alberta to compare with ICBC.  They came back at 2-6 times what I was paying here at the time.  

 

This fallacy that everything would be better with private insurance has to stop.

 

CHOICE is almost always good for the consumer.  And what government agency do you know that works better than the private sector?

 

If they are so great, let's let the government run our food system.

[sebberry]

CHOICE is almost always good for the consumer.  

 

If you think the insurance oligopoly is giving the consumer real choice...  

[VicHockeyFan]

If you think the insurance oligopoly is giving the consumer real choice...  

 

I'd like to see km-based insurance, and transferable insurance (between cars I own, for example, I can only drive one at a time). Short-term insurance if I only live here for 5x 15-day trips each year, stuff like that.  When I was 20 I had two cars and a motorcycle, had to pay insurance on all three, that sucked.

[spanky123]

CHOICE is almost always good for the consumer.  And what government agency do you know that works better than the private sector?

 

If they are so great, let's let the government run our food system.

 

The private system would be great IF they would be allowed to operate like a private system. My point is that the NDP would place so many restrictions on them to make them look and feel like a public system that it would not make sense for anyone.

[spanky123]

Nope, I picked a seemingly safe neighborhood for living and driving in for the insurance quotes.  

 

Possibly as a high-risk driver*, they thought they'd better soak me for all they could.

 

(*young male - ergo: high risk.  Never mind never having had a ticket or crash)

 

That would be it. Young with a nice car and you will be paying a fortune. Tell them that you are 50, a white male, have a clean driving record, have a 2010 Camry, live in the country and want to combine it with your homeowners insurance and your wife's minivan and your pickup and you will save a bundle.

[sebberry]

I don't think lying about age will help.  

 

Bottom line is that I wouldn't have been able to afford to insure my car in Edmonton.  Doesn't sound like a system that we should be idolizing.  

[RFS]

^that actually makes sense. Alberta is more expensive for high risk drivers and way less expensive for low risk drivers with long, clean history. In BC it's the opposite

[sebberry]

^that actually makes sense. Alberta is more expensive for high risk drivers and way less expensive for low risk drivers with long, clean history. In BC it's the opposite

 

Presumed high risk.  Your favored private insurance model would keep younger, safe drivers off the road.  That's not good for anyone.  

[jonny]

Obviously we don't know the specifics about this anecdotal online quote you obtained, sebberry. I know that I pay quite a bit less for my private 'optional' insurance than what ICBC optional coverage costs. I purchase my optional insurance online and it automatically renews. I don't need to go to one of these ridiculous Autoplan offices.

 

It has been widely reported that BC has some of the highest auto insurance rates in the country. We also know that ICBC is a failing entity. Further, we know that the BC government has a long history of bungling the management of Crown Corps.

 

 

We as a society agree that competition is good in nearly every market, but somehow auto insurance is different? The private market provides choice. It provides opportunities for bundling. It would eliminate ICBC as a political football.

 

ICBC as it stands now has no incentive to innovate. It has no incentive to streamline operations, compete for customers or ensure efficiency. Why not keep ICBC for people like sebberry who like ICBC, and give people like me the option to purchase private coverage? Why is it illegal for me to insure myself and my vehicle privately?

 

 

[VicHockeyFan]

I say that about our medical system...

[spanky123]

^^ You are free to obtain your own private, optional automobile insurance. The reason that the Government doesn't allow that for basic coverage is because the private sector would take all of the low risk people leaving the rest to Government coverage which would then be unaffordable.

 

As I said, I would LOVAE to have a fully private option. I just don't think that the NDP and Greens would ever go that route as it would be political suicide.

Edited by spanky123, 14 August 2017 - 02:28 PM.

[sebberry]

I just fired up the lowestrates.ca insurance calculator. 

 

Now obviously location and other details will vary and an exact price is hard to get via these online estimates, but I've tried to match what I have here in BC.  Deductible and liability values couldn't be matched.

 

ICBC: Basic insurance $572; Optional insurance: Extension of third party liability ($3M) $133; Collision ($300 deductible) $174; Comprehensive ($300 deductible) $70; RoadsidePlus $48; Excess Underinsured Motorist Protection $48; License fee $61:  Total $1,083

 

Edmonton Quotes: Comprehensive: $500 deductible; Collision: $500 deductible; Third Party Liability: $2,000,000 (Max available)

Aviva came in at $1,082  (Same price, less coverage than ICBC)

SGI, Economical, Travelers, Wawanesa, Peace Hills and Intact ranged from $1,388 and $2,084 per year.

 

I'd say I have a pretty OK deal with ICBC. 

[Matt R.]

Several years ago I got some insurance estimates from insurers in Alberta to compare with ICBC.  They came back at 2-6 times what I was paying here at the time.  
 
This fallacy that everything would be better with private insurance has to stop.

It was probably all of the speeding tickets.

Matt.

[VicHockeyFan]

^^ you must suck or be new. The rest of us do not want fro pay for your endless errors.

Edited by VicHockeyFan, 14 August 2017 - 10:04 PM.

[sebberry]

^^ you must suck or be new. The rest of us do not want fro pay for your endless errors.

 

So those who screw up lots should pay more. 

[VicHockeyFan]

Yes. Or those who have boy proven themselves like young stupid males.

My system would dig deeper. Young smart males would pay less.

Edited by VicHockeyFan, 14 August 2017 - 10:28 PM.

[57WestHills]

When I was young and in the military I got posted from Vancouver to Edmonton. My insurance went up 250%  and was worse coverage. I got hit there, I was not at fault. Private insurers have even less motivation to help than ICBC. I don't get the strong desire to rush toward mediocracy.