ICBC files for no increase to basic insurance rates for more than two years

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Government reforms to ICBC are paying off with affordable, steady rates and fiscal stability for people.

ICBC is filing an application with the British Columbia Utilities Commission (BCUC) for no increase to basic insurance rates for the next two years, which marks five years of no increases to basic insurance rates.

With the introduction of Enhanced Care in May 2021, auto insurance rates in British Columbia have gone from some of the most expensive in Canada to being among the most affordable. A Canada-wide rate comparison report by Ernst & Young looked at 30 different driver profiles and compared how much auto insurance would cost in nine provinces across Canada. The report found that British Columbians pay among the lowest auto insurance rates in Canada.

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