Autoplan ICBC Insurance Rating Model: Drivers
The Autoplan ICBC Insurance Rating Model (IRM), the new way for calculating premiums for ICBC insurance polices, has been in effect since September 1st, 2019. The IRM calculates the premium associated with a policy based on the vehicle a customer is driving and the individuals driving that vehicle.
This is a change from the previousAutoplan ICBC system where the discount for the vehicle was reliant on who the principal operator was. Now every regular driver will have to be named on the vehicle, and the total premium will be affected by who is driving the vehicle.Each driver’s experience and crash history are given a more significant considerationwhen determining premiums because crashes are linked to the driver, not the vehicle.
When renewing or buying new Autoplan ICBC insurance, it is important to name every driver that is going to be driving the vehicle. Everyone living in the household who is going to be driving the vehicle at least 1 time will have to be named on the policy. The only exception to this is if they would be allowed to drive your vehicle in an emergency situation. Employees on a company vehicle or the vehicle of their employer are considered to be household members and will have to be named.
Outside the household if someone is going to be driving more than 11 times during the year they will also have to be named; as we touched in a previous article the Autoplan Unlisted Driver Protection can help protect unlisted drivers outside the household. (see specific rules).
Once all of the drivers on the vehicle are confirmed there will be a combined driver factor in the system for the vehicle, and the Autoplan policy will be rated by that number.
