MLA Dan Davies – Weekly Column – ICBC rate increases are costing everyone

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If you are a driver and renewed your insurance recently, the sticker-shock probably hasn’t worn off yet.

As of September 1st, the cost of sticking that little decal on your license plate probably increased significantly as a result of the NDP’s new risk rating system.

The simple fact is, British Columbians are paying the highest car insurance premiums in the country. This is largely due to B.C.being the only jurisdiction in North America that operates with virtually no competition.

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The 46-year-old state-run monopoly is jacking insurance rates on just about everyone, despite an NDP promise that drivers with the safest records would actually see a rate decrease. When asked about soaring rates, the NDP minister in charge of ICBC, David Eby declared: “So yes, young drivers — not just young drivers, inexperienced drivers who are predominantly young but not exclusively — will be paying higher rates. And there’s really no way around that as far as I can see.”

It’s true young drivers are the ones paying the highest price. For example, an 18-year old who saved up $10,600 to purchase a 2013 Nissan Altima was issued a $5,300 bill for basic and optional insurance. But it’s not just young and newly licensed drivers who are paying the price. One man with an unblemished driving record for 39 years – and a spouse with a similar record for 35 years — has reported a $31 dollar increase. Not much, but an increase on his basic insurance rate none the less.

So much for making life more affordable under John Horgan and the NDP. If Horgan was actually serious about making life better for everyone, he would open up the market and give people a choice.

After all, is there any particular reason why we have to purchase car insurance from the government?

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