0% increase in ICBC basic rates for next two years

To help with the cost of living, ICBC won’t be raising basic insurance rates until at least 2025.

This will mark five years with no increases.

“Our government is committed to keeping costs down for all British Columbians,” said Premier David Eby in a release.

“Holding firm on ICBC’s basic insurance rate for two more years will help millions of drivers with their monthly bills amid global inflation.”

Provincial officials said since May 2021, auto insurance rates in British Columbia have gone from some of the most expensive in Canada to being among the most affordable.