British Columbia Auto Insurance

British Columbia auto insurance is projected to increase. The rates have gone up in recent years. A rate of 4.9% applies to all policies from November 1, 2016, or later. According to ICBC, the major reasons for the rate increase are the increase in vehicle crashes and rising injury claims. Also, BCUC has approved a rate hike effective from April 1, 2019, in the province. Your auto insurance rate in British Columbia is determined by your driving experience and record, the type of vehicle you use and several other factors. However, you can get more affordable coverage if you shop around and compare coverage.

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It is required that you purchase basic coverage from ICBC. The basic coverage includes $200,000 in third-party liability insurance, up to $1 million in underinsured motorist protection, up to $150,000 per person in medical coverage, up to $200,000 in hit-and-run coverage, and inverse liability coverage.

British Columbia is the most expensive Canadian province in auto insurance with an average auto insurance rate of $1,680. Auto insurance in B.C. is offered by ICBC but you have an option to add optional coverage to your basic plan. This means that you can shop around to minimize the cost on your British Columbia auto insurance.

Ontario was the most expensive Canadian province in auto insurance until 2017 when British Columbia took the first position. The average auto insurance coverage in British Columbia is $1,680; Ontario drivers pay $1,445 in average auto insurance while Alberta comes third with average auto insurance rate of $1,251.

No two British Columbia auto insurance companies offer the best rate. However, auto insurance rate in British Columbia varies across various auto insurance companies even for the same coverage. Auto insurance companies determine their rates based on their claims experience and how they rate you but you have the option of shopping around to choose convenient and affordable coverage.