Province Asks To Freeze ICBC Rates

British Columbia is going another couple years without an increase in basic insurance rates.

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

The province says that 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.