Chances are good that when you think about car insurance your first thought is about how much it is going to cost you rather than how well it is going to protect you if something goes wrong. You might even be tempted to shade the truth about who will be driving your vehicle or how they will be using it to reduce those costs. Be very careful how you make decisions about insurance as making poor choices can put you at huge financial risk post crash.
Insurance is a contract between you and an insurance company. Pay the premiums and the company will protect you from financial losses specified in the contract.
The risk is spread among all the policy holders in an effort to make the premiums more affordable, but you may have to pay a higher premium if you are at higher risk for making a claim. Penalty point and driver risk premiums are used by ICBC in addition to your collision history to set rates.