Car insurance rates in BC dropping 15% this year

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.

NEWS RELEASE – BCUC Approves Interim ICBC 2021 Rate Decreasehttps://t.co/oRGpqoQIBr pic.twitter.com/xPIJ4pN7et

— BCUC (@BCUtilitiesCom) January 15, 2021

• See also:
  • ICBC auto insurance renewals to go online starting in 2022
  • David Eby puts forward legislation aimed at lowering ICBC premiums
  • ICBC launches pilot project to record and monitor new drivers

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.