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British Columbia Auto Insurance

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Review Auto Insurance in British Columbia province

British Columbia Auto Insurance

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British Columbia has the highest average auto insurance rate of $1,680 in Canada. However, B.C drivers can still save on their auto insurance premiums. With the services offered by Insurdinary.ca, we can help you to get the lowest and most affordable British Columbia auto insurance rate.

Call Insurdinary for auto insurance quotes available to British Columbia residents. When you call Insurdinary, we will connect you to qualified insurance advisors in the province who will guide you on the best auto insurance coverage available to B.C. residents.

Our insurance advisors work with some of the most renowned auto insurance companies in Canada and would be able to help you to get the best coverage available to you. This would make saving on your auto insurance coverage easy.

.To compare insurance rates click here.

British Columbia Auto Insurance Details

Factors that affects Auto Insurance rates in British Columbia

To calculate your British Columbia auto insurance rate, auto insurance companies consider a lot of factors. Some of the variables considered by auto insurers in B.C. to determine your rate include:

  • Your driving experience,
  • Your driving record,
  • Your gender and age,
  • The vehicle you drive, and
  • The coverage amount you selected.

To compare insurance rate, click here.

British Columbia Auto Insurance News

There is a simmering debate over privatizing British Columbia’s public auto insurance especially with the expected increase in the provincial auto insurance rate this year.

ICBC had a financial loss of $890 million in 2018 and as a result, requested the British Columbia Utilities Commission (BCUC) for a 6.3% rate increase early in December 2018. According to Andrew Wilkinson, leader of the opposition BC Liberals, said that the state-run monopoly, ICBC is over 45 years and has not been fixed by any government.

Wilkinson added that ICBC is no longer working and it is better to look around the world and see the best way to do it. But PressProgress suggested that the Insurance Bureau of Canada (IBC) has donated $175,000 to the Liberal Party over the last 10 years. PressProgress looked through campaign contribution data from Elections BC available to the public in order to arrive at that amount.

It also found that the total annual donations from IBC to BC Liberals increased from 2013 to 2014 by 87%. Just before the BC government banned corporate political donations in 2017, IBC gave BC Liberals $41,000. This represents a 68% increase from the total donations it has made in 2016.

However, IBC has recently been calling for the provincial government to open the auto insurance market to private auto insurers. The Bureau has also shared Wilkinson’s statements about the issue on social networks.

To learn more about British Columbia auto insurance news click here.

British Columbia Auto Insurance FAQ

Will British Columbia Auto Insurance rates go down anytime soon?

British Columbia auto insurance is projected to increase. The rates have gone up in recent years. A rate of 4.9% applies to all policies from November 1, 2016, or later. According to ICBC, the major reasons for the rate increase are the increase in vehicle crashes and rising injury claims. Also, BCUC has approved a rate hike effective from April 1, 2019, in the province. Your auto insurance rate in British Columbia is determined by your driving experience and record, the type of vehicle you use and several other factors. However, you can get more affordable coverage if you shop around and compare coverage.

To learn more about British Columbia auto insurance, click here.

What is the minimum requirement for British Columbia Auto Insurance?

It is required that you purchase basic coverage from ICBC. The basic coverage includes $200,000 in third-party liability insurance, up to $1 million in underinsured motorist protection, up to $150,000 per person in medical coverage, up to $200,000 in hit-and-run coverage, and inverse liability coverage.

How much will car insurance cost me in British Columbia?

British Columbia is the most expensive Canadian province in auto insurance with an average auto insurance rate of $1,680. Auto insurance in B.C. is offered by ICBC but you have an option to add optional coverage to your basic plan. This means that you can shop around to minimize the cost on your British Columbia auto insurance.

How much is the average British Columbia auto insurance rate in comparison to the rest of Canada?

Ontario was the most expensive Canadian province in auto insurance until 2017 when British Columbia took the first position. The average auto insurance coverage in British Columbia is $1,680; Ontario drivers pay $1,445 in average auto insurance while Alberta comes third with average auto insurance rate of $1,251.

Which is the cheapest auto insurance company in British Columbia?

No two British Columbia auto insurance companies offer the best rate. However, auto insurance rate in British Columbia varies across various auto insurance companies even for the same coverage. Auto insurance companies determine their rates based on their claims experience and how they rate you but you have the option of shopping around to choose convenient and affordable coverage.

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Average Auto Insurance Rates By Province

Year
Rate Change
British Columbia
$1,680
Ontario
$1,445
Alberta
$1,251
Newfoundland and Labrador
$1,132
Manitoba
$1,080
Northwest Territories
$978
Nunavut
$963
Saskatchewan
$936
Nova Scotia
$842
New Brunswick
$819
Yukon
$812
Prince Edward Island
$796
Quebec
$661

British Columbia Auto Insurance Rate Changes

Year
Rate Change
2016
+4.9%
2015
+5.5%
2014
+5.2%
2013
+4.9%
2012
+11.2%
2011
0.0%
2010
0.0%