ICBC Announces Insurance Premium Decreases

ICBC announced the largest decrease in basic insurance in more than 40 years. This move is to reaffirm the commitment the government made to more affordable auto insurance for British Columbians.

With the introduction of ICBC’s new Enhanced Care coverage in May 2021, customers with full ICBC basic and optional coverage will begin seeing average savings of 20 percent, or about $400, on their vehicle insurance. Enhanced Care will help make auto insurance in B.C. more affordable. To keep it this way, the government has directed ICBC’s basic rate application to cover the next two years, meaning the next basic rate application won’t be due until December 2022, which will help provide British Columbians with more stability in their insurance rates.

The Enhanced Care coverage, which will be implemented May 2021, will save drivers money on their insurance and give British Columbians access to significantly enhanced care and recovery benefits if they’re hurt in a crash, regardless of who was responsible.

To learn more about Enhanced Care coverage, go to

“British Columbians deserve auto insurance that is affordable and takes care of them when they need it – this is exactly what Enhanced Care will deliver.”