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Gov’t Survey receives strong feedback to make insurance rates fair

The BC government is reviewing results from its ICBC Rate Fairness Engagement Survey.

The province is looking at the nearly 35,000 responses they received. Based on public feedback, 82 per cent believe risky drivers should pay more.

However, when it came to the penalty amount owners should pay if a crash is caused by an unlisted driver and whether distance driven should play a bigger role in insurance rates, feedback was mixed.

The government is asking ICBC to bring forward an increase to both the driver risk premium program and the driver penalty point program, to the BC Utilities Commission.

Once approved, individuals can expect an increase of 20 per cent in the first year and another 20 next year to help make sure drivers are paying an appropriate amount. Future penalty program premium increases are anticipated to be aligned with any future basic insurance rate changes.

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