OUR VIEW: Province paves way for insurance hikes

We say: Luxury car insurance announcement a diversion tactic

If a motorist acted as recklessly on the road as the provincial government has handled ICBC, there’s little doubt their licence would have been revoked long ago.

The B.C. Liberal government announced last week that owners of luxury cars worth more than $150,000 will soon have to insure their vehicles through private companies. Transportation Minister Todd Stone said the move will ensure that regular ratepayers weren’t subsidizing high-end cars.

It was noted that the average repair cost for a luxury car involved in a crash is $13,000, only slightly less than the entire cost of an average vehicle in B.C., valued at $15,000. Stone did not explain how no one in government had noticed the vast discrepancy between luxury car premiums and repair costs before now.

Apart from delivering a shock to B.C.’s super rich that the free ride (OK, subsidized ride) was coming to an end, the announcement helped to provide a distraction from the other news that basic insurance rates could climb by as much as 42 per cent in the next five years.

The ICBC forecast shows basic rates are predicted to increase 6.4 per cent in 2017, 7.9 per cent in 2018, 9.4 per cent in 2019 and 7.9 per cent in 2020 – numbers that compound to 42 per cent when this year’s 4.9 per cent hike is included.

Stone called that an extreme scenario and ICBC had opposed the release, calling the numbers hypothetical and “potentially misleading.”

Drivers who have never been involved in an accident continue to watch their premiums rise to cover the costs of unsafe drivers, and apparently, owners of luxury cars.

Those premiums have also gone towards the $1.2 billion in dividends the province has transferred into general revenue over the last several years.

“What we’re seeing are the consequences of Christy Clark treating ICBC as a bank machine. And it’s drivers who are going to pay,” said Adrian Dix, the NDP critic for ICBC.

The mishandling of ICBC is sure to be an issue that drives many voters to the polls in next spring’s provincial election.

– Black Press

Just Posted

We Wai Kai and B.C. sign incremental Treaty Agreement, move a step closer to treaty

The We Wai Kai Nation and the Province of British Columbia have… Continue reading

B.C. salmon farm inspection deal reached with Indigenous people

Monitoring to determine if any Broughton region farms stay open

Compromise found on grocery store size in south Campbell River subdivision

Approved increase less than developer wanted, but will still allow for some flexibility

City of Campbell River looks to improve environmental protection during development

Changes to mapping environmentally sensitive areas and how permitting process works is under review

PHOTOS: Young protesters in B.C. and beyond demand climate change action

Many demonstaers were kids and teens who skipped school to take part

Oak Bay father’s testimony at murder trial like plot of ‘bad low-budget movie:’ Crown

Crown alleged Andrew Berry’s ‘entire story of Christmas Day is a lie’

B.C. truck drivers to face higher fines for not using winter tire chains

As of Oct. 1, not using chains on the highway when required could net you a $598 ticket

Singh campaigns in Toronto, May in Winnipeg, as Liberal and Tory leaders pause

All parties expected to be back on the campaign trail Sunday

Possible Canadian cases of vaping illnesses being investigated: health officer

‘I think that will be really important to address the overall trend of youth vaping’

Area 51 events mostly peaceful; thousands in Nevada desert

Three more people were arrested Friday on the remote once-secret military base

Former B.C. lifeguard gets house arrest for possession of child porn

Cees Vanderniet of Grand Forks will serve six months of house arrest, then two years’ probation

‘I’d do it again,’ says B.C. man who swam naked, drunk in Toronto shark tank

David Weaver, of Nelson, was drunk when he went to Ripley’s Aquarium in Toronto on Oct. 12 2018

How to react to Trudeau’s racist photos? With humility, B.C. prof says

‘We are now treating racism as a crime that you cannot recover from’

Most Read