ICBC has submitted an application with the BC Utilities Commission which is responsible for regulating basic insurance rates in British Columbia. With the basic rates being unchanged in three of the last five years, ICBC is seeking to reduce basic insurance rates by an average of 1.9%. They also lowered optional rates by 17% over this same period, resulting in many drivers seeing their premiums go down in the last five years. If approved, the rate changes will take effect November 1, 2010.
To learn more about basic ICBC insurance click here.
To learn more about optional ICBC insurance click here.