More Updates to ICBC Rate Model

by | Auto Insurance, Uncategorized

More Updates to ICBC Rate Model

In the latest of a wave of updates to their new rate model, ICBC announced another change in the first week of June 2019. This latest change means that drivers with frequent or serious driving convictions will pay more for their optional insurance coverage. Let’s review everything you need to know (so far) about this recent addition to the other policy changes taking effect in September of 2019.

What BC Drivers Need to Know About the June 2019 Update to ICBC’s New Rate Model

Driving convictions now impact optional coverage

Bad drivers have had time to digest a tough pill to swallow after it was announced that there would be changes to standard insurance premiums. But now they are faced with the prospect of paying more for optional insurance coverage too, which includes everything from extended third party liability and specified perils to loss of use and new vehicle protection. You can hear the collective “gulp” from the dark corners of BC roads.

What exactly does “frequent or serious driving convictions” entail, and how will varying degrees of severity be accounted for?

In their press release, ICBC explicitly states that serious driving convictions including Criminal Code offences, impaired driving, excessive speeding and distracted driving, will deliver an increase in premiums after the very first conviction. There’s no room for error when it comes to the heavy stuff. There’s a little more legroom for minor offenses, such as failing to stop/yield, speeding. These acts only result in inflated insurance premiums if there are two or more convictions. Be sure to update your on-road prowess by taking a driver refresher course before these new rules officially come into play.


ICBC is giving everyone a fair shot at getting their road act together, even with this recent update. Only driving convictions from June 10th (2019) will have the potential to impact a driver’s optional premiums as of September 1, and ICBC will scan back over a three-year period for driving convictions by June 10th of 2022.

Simply put, there’s no excuse for paying more for optional insurance coverage. All you need to do, is exhibit good driving behavior and you will be rewarded in kind.


Did you know that at press, 10% of policy holders have either a serious driving offense (over a 3 year scan period) or two or more minor driving convictions, yet they are paying the exact same for optional insurance coverage as BC drivers with no convictions?

Moving forward, those with a history of (and who continue to exhibit) bad driving behavior will have to pay more so that lower-risk drivers can pay less, which is essentially the theme of the entire ICBC rate model platform change. You won’t see too many arguments regarding the fairness of this, especially as many BC drivers will see their premiums fall in the near future. While safer roads should be motivation enough, there is now a financial incentive tied to smart driving in our province.


ICBC Changes 2019 – What Drivers Need to Know

“First Crash Protection” for Unlisted Drivers and Two Other Updates to the New ICBC Rules

BC residents have a lot of questions about the ICBC changes set to take effect in September. The good news is that you have time to adapt by getting in touch with an independent insurance broker who can assess your current coverage and advise on an unbiased course of action with respect to your automobile insurance policies. Contact Park Insurance today before September 1.

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