Auto insurance in B.C. is facing a serious problem with injury claims, legal costs and car repair costs at an all-time high. If we don't make fundamental changes to our current system, rates will keep going up every year with no end in sight. B.C. drivers would need to pay 30% more for Basic insurance by 2019 to cover rising claims costs. This isn't sustainable.
That’s why we’re changing auto insurance in B.C. We’ve already taken significant steps to increase care for the injured while spending less on legal costs. Now, we’re making changes to how we set insurance premiums to make rates fairer – for everyone.
We’re proposing changes to ensure drivers pay a premium that better reflects the risk they represent so that lower-risk drivers aren't paying the same premiums as some high-risk drivers.
Under this proposed model, which would go into effect September 2019, your Basic insurance premium would be determined by a number of new and updated factors, which fall under three main categories:
The goal is to ensure drivers pay premiums which better reflect their risk. These changes to how ICBC’s Basic insurance premiums are set and how a driver's risk is assessed are the most significant updates in more than 30 years.
Read more about the proposed changes to how we determine Basic insurance premiums and how we’re
making rates more fair.
Find out why soaring injury claims costs and legal fees are leading to rising insurance premiums.
We're moving to a model that focuses on caring for the injured, while reducing legal costs.
We're working to make our roads safer and reduce crashes in the first place.