Drivers Risk Premium Makes Speeding Costly
Effective Jan. 1 2009 ICBC will be charging risky drivers a premium based upon their driving history of the past three years. This premium is charged on top of your insurance premium and is based on your previous three years. In other words you would have to pay the premium for three years if you had one violation.
In addition to the speeding ticket you receive your premium for your first excessive speed violation would be $320.00 which you pay on top of your insurance. The second violation would cost you $370.00 and the third $430.00. The Drivers Risk Premium continues to increase with each addtional violation rising to $1130.00 for the tenth violation.
Your first criminal code offense will cost you $905.00 and your second road side suspension will cost $370.00 (the first one is free).
These premiums are added together based on your driving record, for example if you had one speeding ticket your DRP is $320.00, if you also have one criminal code conviction your DRP for that is $905.00 and two roadside suspensions totalling $370.00 you would have a total Drivers Risk Premium of $1595.00 per year on top of your insurance.
That premium would be payable each year for three years presuming you have no other driving violations. You also have to pay the DRP even if you do not own or insure a vehicle in the province.
For full information on the Drivers Risk Premium (DRP) use this Nanaimo Info LINK.
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