AFAIK the premiums we pay are lower than other provinces. I know that Alberta and Ontario are higher. The BC liberals did loot the ICBC insurance pool of 1.2 b

AFAIK the premiums we pay are lower than other provinces. I know that Alberta and Ontario are higher. The BC liberals did loot the ICBC insurance pool of 1.2 billion dollars calling it ‘dividend payments’, which realistically should have been premium refunds. When the NDP regained power they passed legislature to prevent this in the future, and ensure that ICBC operates as a nonprofit, which is why there were several premium refunds throughout COVID. The unfortunate part is that ICBC doesn’t have a very complex premium structure. So you do end up with silly shit like a car with high cost of repair being insured for the same amount as a much cheaper to repair car. As a monopoly they are also required to insure all drivers no matter how bad the risk which means that we all pay to keep people on the road who should not be driving.