Repay claim or Pay Surcharge?
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Thread: Repay claim or Pay Surcharge?

  1. #1
    Ridin' Dirty Array Libby's Avatar
    Join Date
    May 2005
    Maple Ridge
    2013 Ninja 1000

    Repay claim or Pay Surcharge?

    Cost of basic insurance last year $1155
    Discount of 15%

    An at fault accident a year and a half ago finally caught up to me

    Cost of basic insurance this year $1847
    Surcharge of 30%

    Difference of $692

    I might have the option to pay the claim out $4-500 but risk having the injury claim being settled and not being able to pay the claim out and having my insurance go up anyways.

    Do I start paying more for insurance now and slowly work back to my discount?

    Or do I pay out the claim and hope I am lucky and there is no injury claim? But risk having my insurance go up anyways and losing a year of working back to my discount?

    Somebody in all their infinite wisdom about ICBC and insurance help me?
    We who choose to surround ourselves with lives even more temporary than our own, live within a fragile circle, easily and often breached. Unable to accept its awful gaps, we still would live no other way.

  2. #2
    One Lump Sum Array
    Join Date
    Oct 2006
    1997 GSX-R 600
    I'm pretty sure they won't let you pay until the injury claim is settled. Pay if you can, and you're screwed if you can't.
    1997 GSX-R 600 (high k's and missing bolts here and there)

  3. #3
    Registered User Array Silent Scream's Avatar
    Join Date
    May 2005
    EX500 - SOLD
    Uhhh be thankful you only have to pay $1847/yr. I had a 40% surcharge (which I ended up paying out for $4200) that put my insurance up to $7800/yr.
    In the whole wide world, there's no magic place... so you might as well rise. Put on your bravest face.

  4. #4
    Rider Array deanner's Avatar
    Join Date
    Mar 2006
    Abbotsford, BC
    02 Gixxer
    Never let your friends borrow your car ! ! ! Got my surcharge down to +20% from +75% and i have 6 months intill my 3 years is up and now i have a letter in my hand from ICBC saying i owe them $4500 or i get another surcharge all because i let a friend drive my car and they crashed it. So needless to say I'm a little pissed off...

  5. #5
    Gear Driven Cams Array Spike's Avatar
    Join Date
    Jun 2003
    Langley, BC
    None right now...
    Work out the difference, and see which is cheaper. It'll be different in every situation. And definitely wait until you know what the injury payout will be.

    Note that in three years you jump back to your old position on the scale anyway. So if it's a high injury claim, you end up ahead of the game. If there's no injury claim, you can pay out the other stuff if it settles before three years from now.

    And if not, accept that the surcharge is your punishment for having an at-fault claim.
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