ICBC having a government monopoly over car insurance, is basic racketeering

[wum]

For fuck's sake, I'm thinking of buying a car but I won't be able to insure it.

Why don't people demand a change, and why has no political party been able to address this? (racketeering is illegal by the way)

[SquiLa]

oh god.

i hate icbc, but some things will never change. or will they?

[10chi]

Don't the Liberals want to privatize ICBC and de-monopolize them?

[b0ld]

[lou_belle]

Seen as how insurance is a legal necessity, it doesn't amaze me that the gov took the opportunity to make hella skrilla from monopolizing the business.

But yeah...if people don't act out...things will never change. Like take for instance the power of the people in France. They have 32 holidays off per year compared to many countries..this is like two times the amount. The government tried to take one away to create enough capital to finance the senior housing definciency..from last year or so when the seniors all died from heat exhaustion with no airconditioning. The people protested the idea of having no holiday and won. HUGE protests. People here are so caught up in work that they "don't have the time" to fight racketeering. The government knows it's killing peoples budgets..but they don't care as long as people eat the shit they serve them.
Wanna protest? I can get the Libertarians on our side*

[lou_belle]

Originally Posted by b0ld

Is that pink nail polish?
Bwahahah*

[wum]

Originally Posted by lou_belle

Seen as how insurance is a legal necessity, it doesn't amaze me that the gov took the opportunity to make hella skrilla from monopolizing the business.

I think insurance should be optional, like medical.

The only thing that needs to be paid for are road tolls, which are easy enough to set up like they have in Toronto with serial sticker scanners and highspeed cameras.

Originally Posted by lou_belle

But yeah...if people don't act out...things will never change. Like take for instance the power of the people in France. They have 32 holidays off per year compared to many countries..this is like two times the amount. The government tried to take one away to create enough capital to finance the senior housing definciency..from last year or so when the seniors all died from heat exhaustion with no airconditioning. The people protested the idea of having no holiday and won. HUGE protests. People here are so caught up in work that they "don't have the time" to fight racketeering. The government knows it's killing peoples budgets..but they don't care as long as people eat the shit they serve them.
Wanna protest? I can get the Libertarians on our side*

truf.

[Carrie]

I like ICBC, they paid to fix the clunking noise in the Jeep, a year after the accident cause two previous mechanics fixed it improperly

[10chi]

Originally Posted by wum

I think insurance should be optional, like medical.

The only thing that needs to be paid for are road tolls, which are easy enough to set up like they have in Toronto with serial sticker scanners and highspeed cameras.
truf.

Insurance optional? Care to explain why you think that is a good idea?

Just imagine, you are driving on the street ,and some idiot with no insurance hits your car so bad you get injured - they are brokeass - you sue them you cannot get any money for your injuries because 1) they are broke ass so they can't pay whatever the lawsuit might award you 2) they don't have insurance, so there is no way the insurance company will cover your injuries.

bad idea making insurance optional IMO

[10chi]

Originally Posted by Carrie

I like ICBC, they paid to fix the clunking noise in the Jeep, a year after the accident cause two previous mechanics fixed it improperly

You like ICBC? Wait till YOU cause an accident, and your rates go up 300% for the next 5 years. Then you will like them im sure. ICBC is a money printing cash cow no matter how you look at it - you pay monthly insurance so you are covered in case you cause an accident / someone crashes into you - however -

if you cause an accident where you're at fault, not only will you pay back whatever costs icbc pays out to fix your car / others' car, you will also pay them a commission on top of it equalling thousands of dollars extra. (mind u this is over a period of typically 5 years)

[Carrie]

Originally Posted by 10chi

You like ICBC? Wait till YOU cause an accident, and your rates go up 300% for the next 5 years. Then you will like them im sure. ICBC is a money printing cash cow no matter how you look at it - you pay monthly insurance so you are covered in case you cause an accident / someone crashes into you - however -

if you cause an accident where you're at fault, not only will you pay back whatever costs icbc pays out to fix your car / others' car, you will also pay them a commission on top of it equalling thousands of dollars extra. (mind u this is over a period of typically 5 years)

I did cause the accident!

[Carrie]

ps. I've got a 10% discount, and the owner of the car has 30%

[wum]

Originally Posted by 10chi

Insurance optional? Care to explain why you think that is a good idea?

Just imagine, you are driving on the street ,and some idiot with no insurance hits your car so bad you get injured - they are brokeass - you sue them you cannot get any money for your injuries because 1) they are broke ass so they can't pay whatever the lawsuit might award you 2) they don't have insurance, so there is no way the insurance company will cover your injuries.

bad idea making insurance optional IMO

insurance is just paying someone else to hold on to your money.

you could do the exact same thing with a piggy bank. and guess what, if you have no accidents, you can keep it all :):)

[tvmann]

I think the Libs said last time the got in they would get rid of ICBC and AIr Care - and they've done nothing. ICBC was started by the NDP in the 70's.

ICBC is not as bad as it once was though. Rates here are now about the same as in ALberta.

I agree I would not insure my car if that was legal. I'm willing to pay for my own driving mistakes. Over your lifetime, car insurance will cost you $25,000+.

[wum]

Originally Posted by tvmann

I think the Libs said last time the got in they would get rid of ICBC and AIr Care - and they've done nothing. ICBC was started by the NDP in the 70's.

This is their golden goose. we need some kind of Eliot Ness to clean hizzouse.

Originally Posted by tvmann

I agree I would not insure my car if that was legal. I'm willing to pay for my own driving mistakes. Over your lifetime, car insurance will cost you $25,000+.

I used to pay close to 4 grand annually, and that's why I couldn't keep the car.

Let's say the average is around 3000 muliplied by the years 16 to 70 (average life expectancy), and that comes out to around $162,000+ smackers.

[lou_belle]

Crippled people should just go on welfare??

If I was crippled by someone with no insurance I'd take my broken self and bomb their house for revenge...I mean...it'd be the only way to feel better~ Right?

[10chi]

Originally Posted by tvmann

I think the Libs said last time the got in they would get rid of ICBC and AIr Care - and they've done nothing. ICBC was started by the NDP in the 70's.

ICBC is not as bad as it once was though. Rates here are now about the same as in ALberta.

I agree I would not insure my car if that was legal. I'm willing to pay for my own driving mistakes. Over your lifetime, car insurance will cost you $25,000+.

$25,000?? lol! maybe over 10 year period.. over a lifetime my car insurance for one car will cost like 2500 / year x lets say 60 years - ~150,000 for insurance!!

that's crazy now that i think about it, imagine all the slurpees you could buy for 150,000
oh my

[tvmann]

I was estimating $500 a year for 50 years, that's what I pay aprox ($600) but I have no accidents and cheapest insurance possible (no collision).

They actually did not have any mandatory car insurance until about 1950 in some provinces and states.

[10chi]

600 a year, wow. that's nuts.. how?

[Dj Franco]

Hey Wum ok so what happens if you have no Insurance and you save your premium that you would have paid into a piggybank each year. You get into an accident and its your fault and the person is a cripple and recieves a million bucks. Is Your Piggy bank going to be able to pay that off. Trust me i work in Property insurance and even tho insurance companys seem like they are ripping you off, there not. Insurance is Peace of mind, so you never have to worry about one day paying out of your ass in case your house burns down, or you kill someone on the road. On the other hand i too hate ICBC but only because i had a situation happen where i got into an accident and it was the other persons fault but it got turned around on me and somehow i got blamed for being re ended. I shot up to Plus 55% surcharge and paid 3600 premiums every year. As much as i hate ICBC, id hate Automobile insurance a lot more if it were privatized cause we'd all be looking at a 4 grand premium every year just like people back East are.

[wum]

Originally Posted by Dj Franco

Hey Wum ok so what happens if you have no Insurance and you save your premium that you would have paid into a piggybank each year. You get into an accident and its your fault and the person is a cripple and recieves a million bucks. Is Your Piggy bank going to be able to pay that off. Trust me i work in Property insurance and even tho insurance companys seem like they are ripping you off, there not. Insurance is Peace of mind, so you never have to worry about one day paying out of your ass in case your house burns down, or you kill someone on the road. On the other hand i too hate ICBC but only because i had a situation happen where i got into an accident and it was the other persons fault but it got turned around on me and somehow i got blamed for being re ended. I shot up to Plus 55% surcharge and paid 3600 premiums every year. As much as i hate ICBC, id hate Automobile insurance a lot more if it were privatized cause we'd all be looking at a 4 grand premium every year just like people back East are.

If insurance was truly the great thing they say it was, then it wouldn't have to be coerced by the government would it? Your scenario could be hypothetically applied to any situation. What if your dog bites the mail man? how about mandatory pet insurance? What if you serve tea to your guests, and it scalds their tongue?

Dude, this is basically a protection racket.

But of course they only care about our safety and have our best interests at heart...

I have a bit of a theory. Since insurance companies can charge more if you get into any kind of accident (like 300%, which is completely FUBAR in the case of a girl I know who boutgh a $4000 old 7-series, whose insurance is $3200, making the whole concept of owning a car ridiculous), or even have your car stolen, perhaps that’s why they haven’t put up a divider up at the Patullo bridge, despite being named one of the most accident prone stretches of road in the Lower Mainland?

That would fit the M.O. of credit card companies, who typically inundate college students or other young people, since having their customers incurr a little* debt is profitable, just like maybe a little ding up is also profitable for ICBC?







Next they'll be sabotaging the roads.

[Dj Franco]

Well the difference with having ICBC Privatized or runned by the government is right now icbc is the only one who can insure automobiles in british columbia therefore there is no competition, they have to insure everybody no matter what. They dont have to underwrite each risk so if ur a horrible driver, they just give you a higher rate to pay and charge people with better driving records a lower rate. Now imagine Automobile privatized. If your accident free your alright, your insurance will stay the same or maybe raise slightly, but the second ur in an accident ( and it wont matter if its your fault or the other persons fault ) the Insurance companys wont insure you and you will be stuck with someone else insuring you is more willing to have ther greater risk, which means a lot more $$$$$$$$$$, and i mean a lot more, were talking 6 grand a year premiums. I know someone in Toronto who has a decent driving record and shes paying 6500 bucks a year. ICBC is a pain in the ass sometimes but im hoping they stay

[Dj Franco]

If the dog bites your mailman that is insured under a homeowners package

[wum]

Originally Posted by Dj Franco

Well the difference with having ICBC Privatized or runned by the government is right now icbc is the only one who can insure automobiles in british columbia therefore there is no competition, they have to insure everybody no matter what. They dont have to underwrite each risk so if ur a horrible driver, they just give you a higher rate to pay and charge people with better driving records a lower rate. Now imagine Automobile privatized. If your accident free your alright, your insurance will stay the same or maybe raise slightly, but the second ur in an accident ( and it wont matter if its your fault or the other persons fault ) the Insurance companys wont insure you and you will be stuck with someone else insuring you is more willing to have ther greater risk, which means a lot more $$$$$$$$$$, and i mean a lot more, were talking 6 grand a year premiums. I know someone in Toronto who has a decent driving record and shes paying 6500 bucks a year. ICBC is a pain in the ass sometimes but im hoping they stay

that doesn't makes sense.

competition always renders the better product for cheaper.

If ICBC is truly lower than other provinces, it's probably being artificially depressed by tax subsidiez.

All the more reason to make insurance not a legal requirement i say

[Dj Franco]

Your not gonna win on this one Wum