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.
— BCUC (@BCUtilitiesCom) January 15, 2021
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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.