Back in May, I wrote that ICBC was applying for a rate reduction of 1.9% on the basic part of your car insurance.  Well the Utilities Commission has finally ruled on the application.
While 1.9% is certainly good news, the commission has ruled a 2.4% decrease!  The further reduction is due to ICBC’s continued efforts to [...]

That’s right…a rate reduction.  ICBC today applied to the British Columbia Utilities Commission (BCUC) to reduce basic insurance rates by an average of 1.9%, effective November 1, 2010. This would be the first change to the basic insurance rates in 3 years, and a positive step in a time when most insurance rates [...]

As previously announced, ICBC is reducing rates for a majority of it’s customers.  The rate changes are coming in for policies effective October 1, 2009, and later.  The changes affect both Basic and Optional coverage to ensure that the premiums charged more closely reflect the risk.

The Basic insurance rate adjustments to rate classes and territories, [...]

ICBC has announced today that they will be lowering rates on optional coverages by 3% and that the basic compulsory rates will remain the same in 2009. All this in spite of a 23% reduction in net income. Final approvals are still pending, but you can bet that if they are releasing this info, it’s [...]