Yes, ICBC is introducing changes to make premiums for Optional coverages align with the changes being made to the Basic rate model to make sure drivers are held more accountable for their driving decisions.
ICBC recently announced that as of September 1, 2019, frequent or serious driving convictions will be factored into your premiums for both Collision and Extended Third Party Liability coverages.
Two or more convictions for minor offences (such as failure to stop at a stop sign or speeding) or one serious offence (distracted driving, impaired driving or excessive speeding) within a three-year period, will result in an increase in premiums for these coverages.
Convictions resulting from driving violations that occurred on or after from June 10, 2019, will have the potential to impact a customer’s Optional premium starting September 1, 2019. Those premiums will increase with the frequency and seriousness of the convictions. ICBC will ultimately scan back over a three-year period for driving convictions by June 10, 2022.
The goal is to benefit lower-risk drivers – those who don’t cause crashes or get driving convictions.
For more information, read the ICBC news release and factsheet.