The repair costs on vehicles aren't really a problem. It is all in the injury claims. It's the same reason motorcycle insurance has gone through the roof here in SK. The payout on the vehichles is only a small portion of what is paid out but the injury claims are the major cost driver.
Everyone always equates the cost of insurance to the vehicle, and it does effect the rate but that is a minor factor. Accident rates per type of vehicle will indicate that there is more chance of a liability claim and are the main driver in rates.
At least that's been my understanding watching SGI closely the last few years. It's kinda interesting reading their annual reports. There is no reason ICBC should be in such a pickle.
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