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BC Car Insurance Overview

BC Car Insurance Overview

BC Car Insurance Overview

Car insurance coverage in the province of British Columbia is provided to residents through the Insurance Corporation of British Columbia (ICBC).

All citizens of BC are obligated to obtain auto insurance in order to obtain vehicle registration and licensing.

Even though consumers are mandated to obtain a basic package of car insurance through ICBC, drivers in BC do have the option to purchase additional coverage that can add substantial benefits to their existing policy. BC Car Insurance Overview


There are minimum auto insurance requirements that residents of British Columbia must receive in their basic BC car insurance package.

The first major requirement is for limited liability coverage. The coverage amounts to $200,000 for a single accident which is meant to cover settlement costs up to this amount involving cases of injury or death.

For medical care that is needed, including rehabilitation costs, the amount provided by the ICBC is a maximum of $150,000 per person. There are several other benefits associated with the basic coverage provided through the BC province that include payments for disability and funeral expenses.

BC car insurance rates can be affected in a variety of ways.

ICBC categorizes drivers into certain rate classes based on specific criteria to help determine premiums that should be charged.

One of these rate factors involves the use of the vehicle in question, whether for commuting to work, for leisure only, for delivery or for strictly business purposes.

Another factor that can determine the cost of Auto Insurance BC charges is your age as a driver. Obviously new and younger drivers are going to pay higher rates than older and experienced drivers.

There are several other factors that may affect rates of the car insurance Canada in general, and the province of British Columbia in particular, will charge. The model of your car, where your car is located and your past driving record are some of these factors.

If you desire more than the minimum BC car insurance coverage, then you have many options within the province.

Actually it is beneficial to add coverage on top of your existing basic plan of benefits for several reasons. It's often a good idea to carry more than the minimum required liability insurance because the minimum mandated amount provided for by the ICBC may not pay for the total cost of your assets. Most car insurance companies recommend at least $2,000,000 liability coverage.

You will want enough coverage to cover this amount in case damages that are awarded exceed your assets. Other coverage that is desired by many consumers includes comprehensive protection against fire, theft and also added collision coverage.

The amount of BC Car Insurance you need depends upon your own personal situation and the balance between reasonable risk and what you can afford. You certainly do not want to find yourself underinsured, for this could result in being responsible for costs that exceed your ability to pay in certain circumstances.

On the other hand there is no reason to pay for coverage that you can't afford and you find unnecessary.

The best way to find the right amount of additional Car Insurance Canada offers through its domestic insurance companies is to simply obtain quotes from these companies. Those that have extensive knowledge and years of experience serving customers in the industry can insure that you get the best insurance deal.
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