Tickets and Insurance
Clients often ask us about tickets and insurance. If ICBC decides you are more likely to cause an accident, you may have to pay a Driver Risk Premium apart from Driver Penalty Point Premiums. These premiums are applied to any drivers who have a driving-related Criminal Code conviction (such as Impaired Driving), drivers who have received a 10 Driver Penalty Point Motor Vehicle Act conviction, drivers with convictions for excessive speeding, and/or two or more roadside suspensions.
The Driver Risk Premium assesses your driving behaviour over three years. Currently all driving convictions since January 1, 2008 are assessed under this program. Since the Premiums are billed annually, you will have to pay three times for each action that causes a Driver Risk Premium to be applied.
One Criminal Code conviction costs $905 per year up to $24,000 per year for multiple convictions. 24-Hour prohibitions cost from $370 to $1100 per year. Excessive speeding costs an additional $320 per year up to $1100 per violation. Each of these amounts will need to be paid three times.
ICBC expects the Driver Risk Premiums to apply to 27,000 drivers by 2010. The costs of the Driver Risk Premiums are in addition to your regular insurance premiums and the traffic violation fines. Failure to pay on time will result in 19.5% interest annually, and suspension of your vehicle insurance. So don’t challenge or pay your tickets and insurance will go up. You will also not be permitted to renew your driver’s license, replace a lost license, or take any driver exams from ICBC.