In reference to http://porsche.jeffgrant.com/viewtopic.php?f=12&t=3628

As some of you know as of January 1st, 2011 ICBC initiated a new way of accessing our vehicle's "risk". They advise that the vehicles that fall into this luxury vehicle category is determined by price, horsepower and power-to-weight ratio. They claim that in doing this they can give those affected by the change the best possible coverage for their vehicle (more like the WORST possible coverage). That is complete BS. Basically, what this boil downs to is you being either uninsurable or priced with a $10,000 deductible and premiums being triple what they are now. Most of us who drive these type of cars have another vehicle or two as a daily driver. Who in their right mind would pay that much premium just to drive their car to the track or on weekend a few times a month. I am sure this will also negatively affect new luxury vehicle sales. It will be tough for someone to consider buying a 918 spyder or Aventador if you can't even insure it. Might as well tell Porsche Canada, Lamborghini and Ferrari to not even bother sending any cars worth over 200k to BC any more.

So why don't I just take my business elsewhere you might ask? Well, all other optional insurers are following suit. Optional insurers are rather picky and base their claims decisions on the decisions of ICBC. Since they perform less underwriting and claims investigation they are usually cheaper as they follow the decisions of ICBC as they have already performed all the work with underwriting your mandatory basic insurance. If ICBC doesn't take us then we have no hope in getting a better proposal from the optional guys. This means that a bunch of us are screwed as we will have no other avenue.

If you saw in the Province or any local newspaper today ICBC has withdrawn their proposal of another premium increase due to public outrage. This proposal would have seen drivers who get a speeding ticket have their insurance premiums rise on average an extra $1000 over three years on top of the current driver penalties. I believe that what they are proposing to us luxury car owners that fit their list is even more unwarranted and unjust. Money aside it's the principal at large here.

With your support I am hoping I can get into contact with a few media groups and plead our case. If it can even make it into the news then great.

If you guys have any better suggestions or ideas please contribute.

Info on ICBC website can be found here http://icbc.com/luxury-vehicles
Their BS list can be found here http://icbc.com/csDelPrd/Satellite?c=ICBC_Document_C&cid=1225928354184&page name=ICBC%2FICBC_Document_C%2Ficbc_DocumentLinkT&p roxied=true

Thank you

 

Damn that sucks.

Just creating another loophole to rip everyone off.

 

I was at the porsche dealer in town looking at the 997 and the sales person asked me if i was interested in a 997tt cab cause a doctor was no longer interested since the new icbc rules.

im down maybe to get some backing from the highend dealers.

 

Exactly what I'm talking about.

Need you guys to spread the work and if you have any contacts with the media please let me know.

Thanks!

 

and you guys make fun of us 'Tobans. My 911 was $1655 for full year, full coverage.

 

It's just absurd what's going on here in Canada! Anything we can do to break up this oligopoly - I'm in! Please keep us posted! I have close contacts with some of the dealers here in Vancouver.

 

I'm sure some of these dealers already know but for the ones that don't if you could make them aware of the situation that would be great. I'm sure with any decrease in sales they will be highly motivated to escalate this matter to the right people.

Thanks!

 

have you guys in bc noticed all the red light camera's that are going up?

 

Yup, actually I just spoke with one of the major dealers and they are aware. Also cleared it up that they have known about it for some time. It should be noted that the new regulations are for 2010 and up cars, so for the time being it won't impact me personally - still outrageous!

Re, red light cameras? Nope, haven't noticed. Although I'm not necessarily against those.

 

They start off as red light cameras
then they become red knight & speed cameras
popping up???
its like an infestion up here in edmonton
started off as a few red light cameras (6) a couple of years ago
then they upgarded them to speed & red light

now there are 3 red/speed cams in one direction on yellowhead EB
Between 149 street to 107 street

On 137 ave between 97str to 127 str there r 3

These r just 2 of the major roads thru town as examples

On my commute to work I pass thru 3 not including the roving
photo radar vehicles

NOW here is the kicker. ....the company that put up the camera. ...
gets a cut of the penalty/ticket.....(upto 33%-can't remember exact)
Then there is the quota of how many infractions
then the timing of the lights (how long the yellow stays on)
because those affect how many tickets r sent out

As for insurance in alberta...
according to what I found out..for over 40
most cars fell into the same group...for the same price
mustang/Porsche/corvette...all about $700 to $900
but if the vehicle was purchased for over 100K
It changed a little ....
for every 10000 over 100000 in price of car
ur deductible was an extra 1000.
200K car-> $10000 deductible

Cheers
chris

 

Insurance on turbo 911 2011 in alberta
so I called my ins. guy
got some more facts on what is happening here in AB
if I was to insure the said car above with my record -> 0 or 1 speed ticket
no accident / claims in last 10 years /over 40
liability 330
collection 524
comp 617
Plus other little things bring it to 1600 per year
bentley/mercedes/ferrari/ Porsche all fall into this category
because of cost....he didn't mention anything increasing
premium due to HP/weight/luxury or sport
deductible works sort of like I said above
But he confirmed they use a 5% rule
200K car 10K deductible
ALSO needs approval from higher up / might take a week he said or more
Now the liability is what will get you
have a few speed tickets and this starts to climb dramatically
here we have the ability to shop around....
AGAIN this could be different for other insurance companies here in AB
Hopefully this is useful info

As for red/speed. Lights in edmonton
28 intersections and counting
some intersections have more than one camera
sep 1999 started out with 6
They changed the law in AB in 2009
since then. ....infestation
doesn't seem like there will be a stop to it
especially after every city budget announcement
there always seem to be a few more new cameras being put up
Won't happen to you??? In your city/town???
Just wait...

Cheers
Chris

 

Did they say if anything what they are going to do about this? How was their reaction? I've been in touch with one media columnist and would like to get in touch with as many as possible.

Thanks!

 

It's only BC, the rest of Canada is not so bad from what I know.

It is ridiculous the premiums I am paying on my cars to insure them (I'm under 30 with a few tickets so you can only imagine my premiums)... As for red light camera's I was surprised how many I see around the city. I remember being caught by one earlier this year but never received anything in the mail about it. I am accustomed to driving in Toronto where they have the longest yellow lights I have seen anywhere whereas here in BC they're lightning quick.

Not much you can do about it though since ICBC has the final say in it and all underwriters follow suit.

Well with this, and the new speeding laws I might as well sell the cars and ride my bike around town to save money.

 

At the end of the day this is all about money. Public safety is just a safe banner for politicians and bureaucrats to stand under while they dip their hands into our pockets and pull out our wallets. ICBC and the gov't couldn't care less about what we think. Remember, we are the one's with deep pockets driving expensive cars, and frankly the majority of the general public making 10 bucks/hr isn't about to sympathize with our concerns or cause. The media can just as easily spin this by simply saying you drive a 150-200k car and you're worried about paying 10k in deductibles to insure it. Not much of a story there.

If we want real change, we'd have to either raise a ton of money (fundraisers etc) or mobilize a lot of votes before politicians will take notice. No one is taking the initiative to organize such a movement. This is a community just like any other, and if we want to force change, we'll have to come together (dealer network, car clubs, businesses etc...)

 

I really doubt the media would spin it that way as it makes them look foolish. Just because we can afford expensive cars doesn't mean we should be unjustly raped on our insurance. It's not the money but the principal and rationale for these drastic changes. Yes I drive a 200k car but that doesn't mean I give out handouts to everyone and anyone that asks.