If You Own An Automobile In British Columbia, Does Previous Accidents Affect Your Insurance Rates?

If you live in British Columbia and you own an automobile or any type of motored vehicle, you need to pay an insurance premium to ICBC. If you happen to get into an accident, you can expect to be paying a higher premium. The extent of the increase in your premium’s rate will depend on who was at fault and on your driving history.

Drivers that hire a Car Accident Lawyer in Kelowna can get help with proving that a given accident was not their fault. Of course, any lawyer must develop an argument that focuses on the driver’s experience and skills, if those work to showcase the fact that the same driver is not apt to exhibit negligent behavior, while on the road.

All the factors considered by ICBC, when determining the premium rate for a policy holder

The make and model of the insured vehicle: Some cars and trucks get stolen more often than others. Other vehicles tend to be hard to repair. Both situations must be considered, when determining the rate charged anyone that buys an insurance policy from ICBC.

The location of the vehicle owner’s home: More vehicles get stolen in an urban area than in a rural area. In addition, someone that lives in a city is less likely to have a home with a garage. A garage provides a car, truck, van or SUV with added protection. Because it has that added protection, it normally keeps running smoothly for a longer amount of time.

The age of the driver: Younger drivers tend to take more risks. Older drivers hate to give up their independence, even when it becomes hard for them to drive.

The driving history of the vehicle owner: A history of past accidents suggests a greater risk for more accidents.

Level of coverage: Residents of British Columbia can pay more, in order to get fuller coverage.

Size of deductible: A policy holder with a lower deductible will usually have a higher premium.

Choice of insurer: It pays to shop around.

A law that governs the extent of any premium increase

On June 1, 2016, the vehicle owners of British Columbia welcomed passage of a new law. It prohibits an increase in a policy holder’s premium, if he or she just had a first-time accident, one for which the driver was less than 25% at fault. The law applied to drivers that met these qualifications:

• Had been accident-free for 3 years;
• Involved in accident in which no one was injured;
• Involved in accident in which property damage was less than $2,000.00;
• Involved in accident in which the at-fault driver paid all damages.

If a policy holder has gone 6 years without an accident, minor faults wiped from driver’s record.