Vehicle insurance in BC (a.k.a. 'Bring Cash') is expensive. While the bill for all year round full coverage insurance in Alberta was about 400$, the same service will cost you 1,600$ here on the West Coast, for the simple reason that this matter is under provincial jurisdiction. And with the government being the only provider of this specific commodity, prices naturally skyrocket like in any other monopolist environment.
So, for the first time ever in my two-wheeled life I cancelled a motorcycle insurance policy. I put the Sportster into storage mode, and got credited with over a thousand bucks. The friendly insurance agent told me that if I should feel the spontaneous desire to ride, I can get a day or weekend permit for 30 or 40 bucks. I guess I leave that as an option.
I don't like doing it but it is a simple matter of economics. On the plus side... I still have Paolo, my trusty Vespa to zip around. And I plan to keep that one insured.
A great example of why government is invariably the worst provider of any service you care to name. I'm a great believer in keeping bikes insured and ready to go 52 weeks a year, but I can sympathise with the decision to lay up the Sporty. $1600 is just a nasty rip-off.
ReplyDeleteI thought $1100 USD was too much for 12 mo. full coverage on my FJR and ZX-14. I wont complain now. I have a friend that lives in Castlegar and I see him every year in Sturgis. He always has things to say about the Govt.
ReplyDelete@Richard: There are certain things, where the government should stay out of. Insurance should certainly not be their business, but it is an easy grub, plus they can easily charge you sales taxes on used privately procured vehicles, too. Legalized waylaying I'd say.
ReplyDelete@Erik: I was shocked when I insured the Sporty but what can you do, there is no other option except you leave the province for a place cheaper...
Wow! I'm sorry Rover is being put up for the winter. On the plus side, no salt to hurt it. But day insurance isn't too bad in case you encounter some nice days.
ReplyDeleteInsurance for my '11 FLHR is more than my F150, but I'm keeping the bike on the road all winter. I know there will be many fair days when I will want to ride.
ReplyDeleteAnd yes, government is the root of all evil. Guy Fawkes had the right idea.
@BeemerGirl: Yeah, it's a pity but the bike will have it safe and warm.
ReplyDelete@No Name: Good for you, if it weren't such a rip-off here I would gladly keep the bike insured, too. Sigh!
Sad panda. Bummer that you have to put him away for the winter, but he will be race ready come spring. How odd is it that Calgary and Vancouver are the same temperature only Calgary is sunny. How rude. Must be a chinook going through. Ouch on the insurance cost. I don't miss ICBC. At least you still have Paolo insured.
ReplyDeleteA government monopoly....truly a worst case scenario....and I fear we in the US are headed in your direction in such things.
ReplyDeletedom
Redleg's Rides
Colorado Motorcycle Travel Examiner
@Trobairitz: It hurts to have Rover sitting under cover in the parking lot. But I promised to buy him something new next year for the money I saved on insurance. Your reminiscence of ICBC for sure ain't a pleasant one.
ReplyDelete@Charlie6: Dom, there is nothing worse than that and nothing you can do about it. I was thinking of boycotting it, and the only thing I could come up with was canceling the insurance policy... not sure if that was the most cleverest move though.
Wow! Really high insurance rates and I had no idea that it was a government monopoly. The next step is to privatize it so it'll be a government sanctioned private monopoly. Is the rate based on engine size?
ReplyDelete@RichardM: When they privatized insurance in Alberta, competition took care of price regulation. I cannot see that the BC government will let that happen. The cost is indeed based on the cc's. My Beemer had cost quite a bit less, hence was kept insured the whole year.
ReplyDeleteWe have to change the way our insurance is delivered. The government fails miserably with crown corporations. It needs to be deregulated and their arguments that it s an efficient system is hogwash, how do the other provinces make it work? ICBC should just be the licensing agency , not insurance.
ReplyDeleteAt least you have your scoot!
@Dar: Darn right! Efficient? They must be joking. I have never seen such a crappy organization. In Alberta I could insure my vehicles online and by email I would get the insurance papers. Less offices, online service, and re-organization would help as starters to save cost. ICBC for the licence plate, let the rest be to companies who know what they are doing. Where can I vote for that?
ReplyDeleteWhat?? Government insurance?? I had never heard of such a thing.
ReplyDeleteIn theory this is probably a good idea, with (presumably) everyone having the same type and level of cover and no doubt their aims were good when this was set up, but Jeez, that is ridiculously expensive insurance! If the cost is being driven up by government ineptitude, then this must be very annoying.
Like many, I don’t mind paying for stuff if it represents good value, but with your BC to Alberta comparison, it seems that waste is prevalent in the insurance team. This must be causing considerable ill-feeling by the people – are there any plans to do anything about it? It sounds as if the private sector needs to be allowed to compete here in order to bring in some competition, which should lead to a lowering of prices.
@Gary France: The ICBC - Insurance Corporation of British Columbia is a Crown Corporation providing basic and optional vehicle insurance, driver licensing services etc. also known as BCCG - British Columbia Cash Grub. And the 1,600$ is just the basic insurance. I pay another 400 bucks to a private insurance to cover extended coverage...
ReplyDeleteNot sure why people don't complain about it. Not knowing better? Too complacent? Maybe because of the weed that is readily available to keep people's mood elevated? I don't have a clue.
This smacks of Iron Curtain!
ReplyDelete@Gary me old fruit, you have heard of National Insurance in UK that pays for our "FREE" healthcare???
ReplyDelete@Nikos: Well, they call it 'socialist' country for a reason I guess ;-)
ReplyDeleteOK, lets have the full story, please. What is the covereage? What is the driving record of the insured? What is the cost of auto insurance? What was the reason behind this type of government insurance? What was the price of private insurance prior to the govenrment stepping in? Please, when you have disclosed all the details, then the idiots complaining about this issue, need to either do their homework before complaining, or keep their mouths shut. All the responses listed here are dumb responses by uniformed individuals who do nothing to change the system or who help in anyway. These morons spend all their energy complaining, instead. If you don't like the way things are, get up off your lazy rear and do something to change it. Stop complaining. Stupid!
ReplyDelete@Anonymous: Interesting what you have to say, even more interesting that you say it anonymously...
ReplyDeleteAre you by any chance working for the very organization that all the others keep complaining about?
And if so, kindly explain why the same type of vehicle insurance (driving record and all) can be so much cheaper in the adjacent province?
@Anonymous – Hiding behind anonymity must make it much easier for you to poke fun at those who readily give their names. You are the idiot here, wrongly accusing people of doing nothing to change the system. It is you that should get your facts straight. What sort of a dictator are you to trying to be to beat down freedom of speech in this way? Thank God most people in the civilised world disagree with your form of ranting “I am better than you” style of doing things. Look at what is happening in the world - people like you are being deposed regularly, by the people who are using their democratic right to free speech. You are the one that is wrong here!
ReplyDelete@Gary France: Gary, thanks for stepping up. Interestingly enough this anonymous troll seem to be particularly active in very similar manner and attitude on blogs where different opinions on government regulated vehicle insurance are being voiced.
ReplyDeleteSome bare facts about BC insurance here:
ReplyDeletehttp://www.ibc.ca/en/Car_Insurance/BC/
People in BC only have one choice to avoid this all together: Don't own a vehicle...
+1 with respect to Anonymous. If you're asking for more info, why would you go out of the way to be discourteous about it? Cowardly post.
ReplyDeleteSonja - does your insurance cover any no-fault accident compensation levies or anything of that nature? My NZ fully comprehensive insurance is about $500 with full no-claims discounts. However, my annual road tax is a similar amount. It doubled from the previous year because it carries an accident compensation component and now apparently reflects the higher cost of motorcycle accident care.
@Geoff James: Geoff, this person is not interested in facts but in trolling.
ReplyDeleteBut since you are asking the insurance provides so called basic coverage and 3rd party liability of 5 million limit.
Comprehensive coverage (collision, fire, theft, vandalism) is extra and will cost another few hundred bucks either with ICBC or in this particular case a private company. I get a discount at ICBC for 'Canadian' driving experience of 30%, otherwise insurance would cost me even more... no joke!