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Penalty Points and Insurance Rates
Parking tickets generally do not affect insurance rates in British Columbia, unless they result in penalty points being added to your driving record.
Penalty points are assigned for certain traffic violations, including some parking offences. If you accumulate a certain number of penalty points within a specified period, your insurance company may consider you a higher-risk driver and increase your premiums.
Penalty Points for Parking Offences
- Parking in a handicapped spot without a permit: 3 points
- Parking in a no-stopping zone: 2 points
- Parking in a fire lane: 2 points
- Blocking a driveway or intersection: 1 point
Impact on Insurance Rates
The number of penalty points you accumulate and the type of violations you commit will determine how much your insurance rates may increase.
| Penalty Points | Rate Increase |
|---|---|
| 0-2 | 0-10% |
| 3-5 | 10-20% |
| 6-8 | 20-30% |
| 9+ | 30% or more |
It’s important to note that insurance companies may also consider other factors when determining your rates, such as your driving history and claims experience.
Parking Offences
Parking offences, such as parking in a prohibited area or exceeding the time limit, are minor traffic violations that typically do not affect insurance rates in British Columbia.
Accident History
On the other hand, accidents and other moving violations can significantly impact insurance premiums. Here’s how they are categorized:
- Minor Accidents: Minor fender benders or collisions that do not result in significant property damage or injuries may have a minimal impact on insurance rates or may not affect them at all.
- Major Accidents: Accidents involving significant property damage, injuries, or fatalities can lead to substantial premium increases.
In British Columbia, the Insurance Corporation of British Columbia (ICBC) uses a claims history to calculate insurance premiums. A claims history is a record of all accidents and moving violations associated with a driver or vehicle.
| Offense | Premium Impact |
|---|---|
| Parking Offence | No significant impact |
| Minor Accident | Minimal impact or no impact |
| Major Accident | Substantial premium increase |
Insurance Exclusions for Moving Violations
In British Columbia, insurance companies are not allowed to increase your premiums for:
- Parking tickets
- Speeding tickets under 20 km/h over the limit
- Other minor moving violations, such as failing to yield
However, insurance companies can increase your premiums for more serious moving violations, such as:
- Speeding tickets 20 km/h or more over the limit
- Driving without a valid license
- Driving under the influence of drugs or alcohol
- Causing an accident
Table of Moving Violations and Insurance Premiums
| Violation | Insurance Premium Increase |
|—|—|
| Parking ticket | None |
| Speeding ticket under 20 km/h over the limit | None |
| Speeding ticket 20 km/h or more over the limit | 10% – 25% |
| Driving without a valid license | 25% – 50% |
| Driving under the influence of drugs or alcohol | 50% – 100% |
| Causing an accident | 25% – 100% |
Factors Insurers Consider When Determining Rates
Insurance companies evaluate various factors when calculating insurance premiums, including:
- Driving history (e.g., tickets, accidents)
- Vehicle make and model
- Driving experience and age
- Location and garaging address
- Type and level of coverage
Parking Tickets and Insurance Rates
While parking tickets generally don’t directly affect insurance premiums in British Columbia, they may indirectly impact rates if accompanied by other traffic violations.
For instance, if a parking ticket is issued in conjunction with a more serious violation, such as running a red light or speeding, it may raise concerns about the driver’s overall driving behaviour and increase the likelihood of a higher insurance premium.
Table: Potential Impact of Parking Tickets on Insurance Premiums
| Violation | Impact on Insurance Premiums |
|---|---|
| Isolated parking ticket | No direct impact |
| Parking ticket combined with more serious violation | May increase premiums |
| Multiple unpaid parking tickets | May lead to license suspension, which can significantly increase premiums |
There you have it, folks! Now you know the lowdown on parking tickets and insurance in British Columbia. Hopefully, this article has saved you some confusion and a few headaches. Remember, it’s always a good idea to check with your insurance provider if you’re not sure how something might affect your coverage. Thanks for reading, and be sure to visit us again soon for more insurance-related tips and insights. We’re always happy to help make your life a little easier when it comes to protecting what matters most.