Car insurance rates in BC dropping 15% this year

Jan 14 2021, 7:19 pm

BC’s notoriously expensive car insurance rates will get significantly cheaper this May.

The BC Utilities Commission has approved a request from the Insurance Corporation of British Columbia (ICBC) to temporarily lower basic car insurance rates by 15% starting May 1.

The interim 15% reduction will remain in place until the utilities commission decides on a permanent rate.

BC’s NDP government has said it will try to reduce auto insurance prices for British Columbians, with Attorney General David Eby calling ICBC’s financial situation a “dumpster fire” when he first took office.

Megan DevlinMegan Devlin

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