R I C H

The Insurance Corporation of British Columbia is a provincial Crown corporation established in 1973 to provide universal auto insurance to B.C. motorists.

We're also responsible for driver licensing, and vehicle licensing and registration.

Helen Parnell

Thanks,

plan to move to BC in about 10 years, so I will need to know.

Selsame

Bit of a strawman argument don't you think? Shouldn't we be comparing like with like? How about comparing BC ferries then? You think the absence of serious competition is an incentive to reduce costs? Medical insurance in the US is a rip off maybe, but the treatment I have had in the US was far better than the joys of the NHS.

JonboyE

In that case start driving very carefully. With full no claims most vehicles are in the $1,400 - $1,500 a year range with reasonable optional insurance. Have an accident or two and it starts getting very expensive very quickly.

Almost Canadian

Really? As a fresh off the plane immigrant, I was able to insure two vehicles for $1,500 ish. Would that be possible in B.C.?

R I C H

My first premium in BC was a fraction over $1,000 in '05

Aviator

Mine was $1400 with 43% discount.

Helen Parnell

Would it still be that high considering I will have lived for about 18 years in Alberta, and 'touch wood' no accidents?

agr

Quasi-compulsory north american health insurance is a lot closer to quasi-compulsory north american car insurance than a ferry operation is. I didn't suggest that absence of competition reduces costs - my point was that the existence of competition doesn't necessarily reduce costs. American healthcare may be medically proficient, but the parasitic insurance industry that comes with it is anything but cheap. Treatment quality would only be relevant in this analogy if the OP was complaining about car repairers rather than the insurer.

printer

My son is 17 and his recent renewal for 1 year was $1535. Not bad for such an age with a standard transmission 2 door coupe 2.4ltr engine.

My dodge truck on the other hand was $1750 and that was for me with 40% no claims!!!!

elizabeth_action

Which insurance company was that?

Almost Canadian

ING/Intact or whatever it is now called.

Almost Canadian

So why are there such large variations? As they are all ICBC and, one would assume, you all live in similar neighbourhoods, I would have thought that they would be closer in price.

I know that Printer's was for a single vehicle, what about the other two?

JonboyE

You would qualify for the maximum discount which is 43% provided you have proof of your driving record in a form that ICBC will accept.

Each year you must buy basic insurance and a vehicle license from ICBC. There are variations depending on where you live and what you use the vehicle for, but expect something around $900 if you live in a city.

Most people buy additional insurance: fire and theft, collision and extended third-party liability. ICBC sell this but you also have the choice of several private insurers. Typically, for someone with a good driving history these additional insurances are going to cost $600-$700 from ICBC and $400 to $500 from a private insurer.

R I C H

Why assume we live in similar neighbourhoods? I'm sure car crime/traffic volume is lower in Kamloops than urban Vancouver, and I live just outside of city limits which means a rural environment. Garaging, driver age, commute distance, limitations of use by other drivers etc all affect premiums.

My price was for a single vehicle ('01 GMC Sierra). I now pay $1,250 for a '10 Impreza WRX and $1,200 for an '07 Ford F150