A government survey completed by 35,000 British Columbians showed 82.3 percent agreed with the statement "drivers who are found to be at fault in crashes should pay more." The survey comes at the heels as the public insurer has been in the red and saw a fiscal loss of $1.3 billion last year. While the losses can be contributed to higher legal costs, higher claims for minor injures and simply more accidents occurring overall, but it is also important to mention the siphoning of profits by the provincial government itself and turning it to provincial revenue instead of saving the previous billions of profit for a rainy day fund.
The feedback from the survey showed that new drivers who are involved in an at-fault crash should see their rates go up by as much as 20 percent. "The feedback was in favor of a maximum of 20 percent in any one year," said David Eby, Attorney General. "We were asking British Columbians how we should ensure that people that are higher risk drivers pay more their insurance and people who are lower risk drivers get a better discount. It is something that is done better in other provinces." The provincial government has promised changes that will see "good drivers" pay less and "bad drivers" pay more.
"Changes to our auto insurance rating system are long overdue." The survey also showed broad support for the idea that insurance rates should be tied to the drivers themselves and not to the vehicle owner itself. Also many agreed to remove the loophole of immediately repay vehicle damage claims in exchange for not having their premiums affected. "While moving quickly to implement changes for danger driving, we are also using this feedback to inform additional changes in the coming months to help make rates more fair for drivers."
The province is also planning on increasing rates by 20 percent for drivers who have received driving convictions such as:
In addition, the government has asked ICBC to bring forward 20 percent increases to the Driver Risk Premium. A change that could be implemented as soon as fall 2018. In order for recommendations to become law, ICBC must put forward the proposals to the BC Utilities Commission, which then must approve them.