ICBC has announced some major changes to our car insurance system in British Columbia that take effect on September 1, 2019. At CapriCMW, we’re here to help you understand the changes, and how they affect you.
In addition to ICBC's new approach towards calculating premiums (discussed in our last blog post), there are also changes to what you will be asked to provide when purchasing or renewing your car insurance:
The driver's license number and date of birth for each driver you want to list on your policy
You'll be asked to list anyone who drives your car such as household members, employees, learners and any others who use your car. If one of the listed drivers causes a crash in your car, the at-fault driver will be held accountable for the crash. You can add or remove drivers at any time - it will not cost you any extra. Adding drivers will not necessarily change your premium as it will depend on many factors including the driving experience and crash history of all the listed drivers.
The principal driver
You'll be required to declare the principal driver, the person who drives the car the most. 75% of the premium will be calculated based on the principal driver.
A photo of your current odometer reading if your car is driven less than 5,000 km in a year
A new discount is available for vehicles driven less than 5,000 km in a year. If you think you may qualify for this discount, your CapriCMW Client Advisor can record your odometer reading. At your next policy renewal, if the mileage is less than 5,000 km, you will receive a 10 per cent discount on your insurance.
If your vehicle is equipped with AEB
Check your ownership manual, or with your dealership, to see if your vehicle has factory-installed autonomous emergency braking (AEB). Vehicles equipped with AEB will be eligible for a discount as AEB has been statistically shown to help prevent crashes.
Questions? Find a CapriCMW office and get in touch with one of our experienced, knowledgeable Client Advisors.
