Proposed new changes to the ICBC’s rate structure announced today aim to modernize the insurance premium system.
A new system will focus more on the driver, evaluating risk, crash history, and responsibility, rather than on the vehicle as the current system does.
The changes would see increased discounts for up to 40 years of clean driving, larger impacts for at fault incidents, better evaluated basic insurance risks, and refreshed territorial data.
The government estimates the changes would lower rates for up to 67 percent of drivers by at least 50 dollars.
35 thousand British Columbians supplied feedback on the new policies, which must still be approved by the BC Utilities Commission in order to be inacted.
