Renewing auto insurance

ICBC, generally the only auto insurance option in BC, revised how it calculates insurance premiums starting this autumn. Starting September 1, 2019, ICBC moved to a basic insurance model that is more driver-based. This means crashes follow the driver, not the vehicle.

Unfortunately for us, our AMG's insurance needs to be renewed in early October. I have read and heard stories of drivers discovering their insurance dramatically increased under the new rules. For the past four years I have been paying roughly $4K a year for insurance even as a casual driver. On average I drive less than 5,000 km per year.

In advance of the renewal I did some research on what information is required for the insurance agency handling our policy. I sent a summary to them last week and they responded:

"I wish all clients were just as prepared as you! Everything you sent me looks good."

Finally yesterday I received the good news that the renewal premium would be about half of previous years.

#AMG #insurance