ICBC is the only one provider of Basic Autoplan insurance in B.C. They provide coverage to all vehicle owners who license and insure their vehicles in B.C. All B.C. drivers must carry at least a minimum amount of insurance. So this system protects you. A new driver faces with more driving offenses or convictions than other professional drivers. These type drivers should pay more for the higher risks and related claims costs they represent on our roads. There are ICBC insurance rates for new drivers. Drivers can select the Autoplan insurance quote according to their choice.
ICBC insurance rates for new drivers:
The young driver is the alluring things in the car insurance industry. So, if you are a young driver, you can pay significantly more than older drivers. that means ICBC insurance rates for new drivers is high. Because insurers seem that teenagers as high risk for their lack of experience.
There is a tendency of young drivers that you are guilty of violating traffic rules. And if they are convicted under certain sections of the Criminal Code of Canada, you will be fined and may pay a driver premium as a result, either a Driver Penalty Point (DPP) Premium or a Driver Risk Premium (DRP). The ICBC insurance rates for new drivers to be paid is based upon the number of penalty points and/or suspensions and/ or types of convictions that are recorded against their driving record.
ICBC insurance rates for new drivers are influenced by following factors:
How you use your vehicle:
If you spend your maximum time on the road and the different conditions you drive in your premium rates will be increased.
Where you live or use your vehicle:
ICBC insurance rates for new drivers may rise when the drivers live in the province where driving risks more than another province
Your insurance and claims history:
A crash-free record gives a discount on icbc insurance rates for new drivers. If you’ve had at-fault crashes, you could be paying more. So always try to abstain from any fault.
The type of protection you choose:
ICBC insurance rates for new drivers depend on adding optional products like Collision, Comprehensive or extended third-party liability.
Your deductible is the amount you pay for a claim before we cover the rest. The lower the deductible, the more your coverage will cost.
The vehicle you drive
Vehicle’s model, age, make and features and its repair costs affect the ICBC insurance rates for new drivers. If you drive a car which price and repair cost low, your premium cost will be low. Therefore, one of the best ways for young drivers to shrink their premium is to choose a Volvo over a Ferrari.
Drivers Under Age 25
Another important factor in determining the ICBC insurance rates for new drivers is driver’s age. Under 25 years old all drivers will pay high rates because statistics show that accident numbers significantly high for the drivers who are under age 25.
It is fact that ICBC insurance rates for male drivers are relatively higher than female drivers the same age. Because insurance companies consider that male driver much more likely to take more risks than female drivers.
Young male drivers can expect to pay at least $3,000 per year for a full coverage policy. But it is possible to reduce ICBC insurance rates for new drivers by only opting for liability coverage.
ICBC claim rated scale:
All new drivers launch their Claim-Rated Scale at a base rate. From there You can move up or down the scale for every claim. If you have a fault for a claim, you have to move up the scale and for this, you have to pay more for your coverage. On the other hand, you can move down the scale and receive a discount on your premium if you do not have any claims.
ICBC rate class :
You may drive your vehicle as a part-time job of your work or You may drive your vehicle just a few times a week. There are common rate classes:
Pleasure: Driving for typical activities of daily works like driving kids to school, shopping, going out on vacation. You may also use your vehicle for up to six days in a month for communicating, delivery or business purpose.
Commuting: Driving for work or school and pleasure purpose. Depending on how far you commute, the rate of classes is different.
Driving for business purposes: Suppose, a salesman drives to meet with his customers. Or use the car for carrying passengers for payment.
Driving for delivery: When the car is used for delivering goods.