Car Insurance in BC: How Much Will ICBC Cost You? (Free Report!)
- Raffaello Law
- Mar 2
- 2 min read
When buying a car in BC, most people focus on the purchase price, financing, and taxes. But insurance is another major cost that can impact your budget. ICBC insurance rates vary depending on multiple factors, so it’s important to get an estimate before committing to a vehicle. Here’s what you need to know.
Why You Should Check ICBC Insurance Costs Before Buying a Car
Some vehicles cost significantly more to insure than others. Luxury cars, high-horsepower sports cars, and vehicles with high theft rates tend to have higher insurance premiums. Checking in advance helps you avoid surprises and make an informed decision.
For example, my old 2007 Infiniti G35S with 306 HP cost me $198 per month to insure. My current 2015 Mercedes-Benz GLA45 AMG, which is a much newer and more expensive car, costs only $220. Despite the price difference, the horsepower and vehicle classification affected the rates significantly.
What Determines Your ICBC Insurance Cost?
ICBC calculates insurance rates based on several factors:
Your Driver Factor: A score based on your driving experience and crash history. A lower score means lower risk and cheaper insurance. Check yours here. (See Image Below)
Vehicle Type: High-performance cars and luxury models typically cost more to insure.
Usage: Daily commuters pay more than occasional drivers.
Coverage & Deductibles: Higher coverage limits and lower deductibles mean higher premiums.
Discounts: You may qualify for discounts like anti-theft devices, automatic emergency braking (AEB), or a low-kilometre discount if you drive under 5,000 km per year.
How to Get an ICBC Insurance Estimate
Before buying a car, you can check an estimate of your insurance cost through ICBC. Here’s how:
Visit the ICBC Insurance Estimate Tool.
Log in with your BC Service Card app.
Check your current insured vehicle, policy details, discounts, and coverage options.
If you plan to adjust your deductible or liability limits, you can see how the changes affect your premium.
Note: This tool only provides an estimate for vehicles you already own. If you're buying a new car, call an ICBC Autoplan broker for an accurate quote. All brokers provide the same rates since ICBC is the only insurer for basic coverage in BC.
Get Your Free ICBC Driver Report
Many people don’t realize they can request their ICBC driver factor report for free. This report shows your driving experience and crash history, which affects your insurance costs.
Get your free ICBC driver report here.
Some driving jobs require this report as proof of your record.
Your score helps determine how much you pay for insurance.
Final Thoughts
Insurance costs should be a key factor in your car-buying decision. Before committing to a vehicle, check your ICBC estimate, review your driver factor, and compare potential insurance costs. Doing this can save you money and help you make a smarter choice.
Got questions about car buying? Need help finding the right vehicle? Contact Avantay for expert guidance on making the best deal.
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