Owner's Certificate of Insurance
When issuing an owner's certificate of insurance, ICBC typically charges different rates that vary by areas within the province. Does anyone know where in the Insurance (Vehicle) Act or Regulations that permits establishing different rates depending on the region where the vehicle is located?
I found that Part 2 section 9(3) state that "the territory in which the vehicle is primarily located when not in use" must be updated upon a change if the premium was established based on territory, however, I don't see where it is permitted to establish premiums based on territory in the first place.
Section 34(3) of the Act permits establishing differing premiums for the driver's certificate of insurance based on class or subclass of driver where the class or subclass of driver can vary based on the region of the driver.
However, for the owner's certificate of insurance, section 34(4) only permits establishing premiums based on the class of subclass of a vehicle with no variance based on regions.
Does anyone have any insight into how ICBC is charging varying premiums of owner's certificate of insurance based on regions that a vehicle is located?