With the introduction of ICBC’s new Enhanced Care coverage next spring, drivers will save on average 20%, or approximately $400, on their full basic and optional vehicle insurance.

“A new auto-insurance system with more affordable premiums and greater care benefits is on the way for British Columbians,” said Mike Farnworth, Minister of Public Safety and Solicitor General. 

ICBC’s application is for basic insurance rates only and will seek a 15% decrease, which the vast majority of customers will receive. In addition to the savings put forward in the basic application, ICBC will also reduce its optional third-party liability rates starting Feb. 1, 2021. This means customers with optional third-party liability coverage with ICBC who renew on or after that date will experience some of the savings from Enhanced Care then.

Leave a Reply