Insurance poll

[Fishtank]

I tried to modify my insurance from ICBC and get the extras through BCAA today. They informed me that the company that provides their auto insurance, Sun Alliance, advised them last week that they are no longer allowed to insure any RHD vehicles. I was told that there are no private insurance companies who will insure a RHD vehicle, I call Bull Sh!t.

What I would like to know from all of you is who do you get your insurance through? And how much are you charged? I would like to take some information back to them and shove it in their face.

I am trying to get; $3 million liability, $300 comprehensive, and $300 collision.

For these three I currently pay $429/year through ICBC.

If you are on private insurance, please let me know who and how much.

Thanks to all who reply

[knight]

I tried to use canada direct, the private carrier that I used on the old truck and the liberty, and was told that they cant insure it either.

As for increased liability I am not sure why you need to pay for it. Personally I am not worth enough that if I was sued for that much I could not pay for it. So I'm not sure how they could collect? Couldn't you file bankruptcy? As well I find it interesting that ICBC also has an additional option that covers you if you are injured by someone who does not have enough coverage. That makes me think that there is no way to make someone pay more than they are covered for. I would love to hear a lawyers thoughts on this. I have passed this idea around to various friends but non of them are qualified enough to give me a real answer, and the ICBC agents are of no help.

[mark]

A driver can get sued for more than his or her policy limits. In cases where quantum does go over the policy limits, ICBC does have a duty to defend the negligent driver's interests. However, it is not uncommon for a negligent driver without sufficient coverage to get "cleaned out" (in the financial sense).

This system creates a bit of a moral hazard -- rich drivers (those who have assets to protect) have an incentive to carry more 3rd party liability, whereas poor drivers (like me) have an incentive to carry less. Unfortunately, from the perspective of the injured party, it would be better if the reverse were true (since this would allow the injured party to be compensated, regardless of the other driver's finances).

I'm actually somewhat surprised that people are still allowed to drive with as little as $200,000 in Third Party Liability coverage. A review of MVA cases on the BC Supreme Court Site shows that quantum damages often go into the millions. If I were ruler of the universe (hee hee hee!), I would set minimum 3rd party coverage at $2 million or so.

Every BC resident with a vehicle or drivers license is provided with $1 million in Underinsured Motorist Protection (UMP). ICBC also allows people to "upgrade" to $2 million in UMP coverage (some 3rd party insurance companies offer $3 million). However, if an accident victim recovers damages under UMP, the compensation is not as generous as it would be if he/she sued the at-fault driver (there are numerous "deductible items" under UMP that would not normally apply in other cases).

[BCDelica]

That's a good rate you pay Tank, couple hundred less then we pay for the same coverage including upping the UMP. How many other 1990, 1991 vehicles have collision and comprehensive; don't no why ICBC would want to do away with JDM imports - we put more insurance on them and more money to them. But that's geting a bit off track.

Mark is sooo right about UMP! Two close friends are suffering from both injuries and compensation from being in vehicle accidents with a uninsured motorist. Their claims are going on 4 and 5 years, this is the norm with UMP claims I'm told, and would have had settlements earlier had person whom smacked into them had the 2 million plus liability. After what my buddy has gone through, I recommend often to 'upgrade' to 2 million cause one million really doesn't go to far in a disability claim. Too much goes into lawyers and tax - man could I rant about that! I fall into the category as someone who in my youth thought insurance was a waste of money, to a parent that bought all that was reasonable (eg with my plan if I die during work travel my family is set many times over, cheery no), and now currently is considered disabled with my care in the hands of an insurance company.

Would private insurance company's benefit you during any claim? Know what I've read - but personally just can't get a good feeling about which side of the fence to be on with this.

[EricN]

don't no why ICBC would want to do away with JDM imports - we put more insurance on them and more money to them. But that's geting a bit off track.

Having seen the inner workings of an ICBC claims centre, (and since we are already off topic) I think I can understand why.
1st. Everything they do is on computer. Every model of car is entered into that computer. When you get in an accident, they go into their computer, click some pics, click some links, and the computer does almost all the work for them so they dont need to spend alot of time researching different prices and sourcing parts etc. When something "different" comes in, it is a huge drain on their manpower and resources to deal with repairing one vehicle to the point they just basically write off anything they can. Add to that there is a bit of a bad attitude towards JDM stuff to begin with.
2nd. There is at least 1 JDM BMW/Skyline/Sport coupe of some sort going through that center in a day. So 1 out of about every 30 cars (estimate) is a RHD JDM sports car that some kid has crashed, every one I saw appeared to be the fault of the RHD vehicle. The ratio of RHD to LHD vehicles being driven is not 1:30. So there is a higher rate of RHD vehicles being crashed, meaning even more work for the estimators meaning it costs them more. Granted, every single one I saw looked like some kids car so it is young, inexperienced drivers, driving something that is faster than they should drive, which are causing all the issues but if it was the same drivers in a LHD car (which it would be) then it would be cheaper/quicker/easier for them to deal with. Hence the desire to see RHD vehicles disappear.
3. ICBC loses money on insuring drivers already. More expensive claims dont help the situation. If it wasnt for their investments, they would be screwed.
Also, every single car is being condemned for not having proper headlights. I cant believe the dealers bring these things in and screw the system to sell a car. In the end, it will come around and bite them in the ass (I hope). Although, on that note, I have the e13 lhd headlights in my Deli and the same inspector that comes to condemn those cars say mine are illegal too. I dont know if I got shafted on the lights or if he was just mistaken/ only looked from a distance and guessed I was not in compliance.

[Fishtank]

Well, the way I see it is that I drive my kids and their friends around, if something were to happen I feel better knowing that there is $3 mil sitting there for any injuries that may happen. I guess you could call it peace of mind. Besides, like BCDelica says, $2 mil doesn't go far these days.

I see that someone has private insurance, if they could PM me the info that would be great.

Thanks

Sorry guys, if we can try to keep this to private vs. ICBC insurance and not ranting on Icky Bicky policy, we have threads on that already. Although I do agree with you Eric.

[dagwod]

I was just about to post a similar request about private insurance. I haven't yet found any company that will insure my Delica. If there is a company that will sell private insurance in BC, please let me know.
Thanks

[DeliTan]

Bump!

Any private insurance for our Delicas in BC?

John

[TardisDeli]

My super nice insurance broker says the private insurers have "cherry picked" what they insure: chosen only to insure certain driver age groups / driver history / vehicle types / vehicle models / geographic areas. It is not just RHD that the private insurers have chosen not to insure, it is also any vehicle model with a history of costing more than the absolute minimum to repair (ie if is a popular model for theft etc). Whereas ICBC is obligated to insure all drivers regardless of claims history etc, they just charge more depending on your codes. Maybe we need to lobby to get delicas into a Slow Lane User rate class. Thus ICBC must continue to insure my polite L300, but they code my RHD the same as the stupid 17 year old boyracers in RHD Skylines that accelerate from 0 to 200 km faster than you can say Skyline; they meetup to race each other at night on the Sea to Sky highway. So, for me, a safe driver with all the maximum discounts, there is no other choice in the metro Vancouver area.

Cheers, Christine.

[Mazdax605]

I know I'm different as I'm on the USA, and not in Canada, but I was able to get Hagerty agreed upon value classic car insurance on my Delica. I have had Hagerty on my RX-7, and REPU for several years, and have also had it on other vehicles in the past as well. When I was getting my Delica from Ontario last year I contacted Hagerty about adding the Delica to my policy, but they couldn't do it at the time. I ultimately got Progressive for the Delica to get it home from ON. Around January of this year I decided to just add the Delica to my regular car policy rather than have 3 different policies. I added it to my policy through my agent locally, and about 2 weeks later out of the blue Hagerty calls me and says they can add the Delica. I have no idea why they called me as I had given up on them back in July, but they did. I have it insured for an agreed upon value of $10k which I'm sure my regular policy company would not have paid if the van was a total loss. I am very happy as the Delica only costs me about $200 for the year now as opposed to $800 through Progressive.