Need advice for auto insurance in BC

doubledoubleu

doubledoubleu

Casual User
British Columbia You're Celebrated
Jul 10, 2023
14
9
VetteCoins
320
Car
2023 C8 Convertible
Province
BC
Hi all,

I recently moved from California to BC, imported my C8 3LT Convertible, and went to quote for my insurance at ICBC, BCAA, and Cascade.

The price I get is around 4,800 CAD for one year. With $1,500 for Basic and $3,300 for Optional ($1,000 deductible for collision and comprehensive ).

When I was in California, I have insurance with Geico, which costs 2,000 USD for one year, and the renewal registration in California costs $1,600 for one year.

I heard ICBC doesn't charge a registration renewal fee. If so it seems the price is reasonable.

But I guess the optional insurance will be determined by the insurance company, so just want to check what everyone's insurance costs are and where do you find cheaper insurance.

Thanks!
 
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Do they still do that "single payer" insurance out there? Insured by the province?
I thought I read somewhere they were changing to free market insurance, but that was while ago.
 
Wow, those numbers would be close to prohibitive for me.
I ran a hypothetical vehicle as originally ordered/priced, past my current insurer here in Ontario, and with the OPCF43 added, my quote was C$1570/yr, however, with a $5000 deductible for some stuff, because the vehicle is over C$100,000. I can live with that.
I'm a senior citizen, dontcha know, with a good driving record, so that may factor in. 👻😴😜
I'm wondering if they appraise you as a "new driver" in Canada, so the rates are higher, as if you just got your driver's license?
(is it too late for you to move here?)
 
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MKinOntario said:
Wow, those numbers would be close to prohibitive for me.
I ran a hypothetical vehicle as originally ordered/priced, past my current insurer here in Ontario, and with the OPCF43 added, my quote was C$1570/yr, however, with a $5000 deductible for some stuff, because the vehicle is over C$100,000. I can live with that.
I'm a senior citizen, dontcha know, with a good driving record, so that may factor in. 👻😴😜
I'm wondering if they appraise you as a "new driver" in Canada, so the rates are higher, as if you just got your driver's license?
(is it too late for you to move here?)
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That's a bit strange, as I exchange driver's license in ICBC, I provided my oldest one from Jan. 2017, so I should have 6.5 years of experience and no accidents.
 
doubledoubleu said:
That's a bit strange, as I exchange driver's license in ICBC, I provided my oldest one from Jan. 2017, so I should have 6.5 years of experience and no accidents.
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In Canada, it probably varies by province or territory. Some independent insurance companies like to turn back the clock on your life long driving record, since it was accumulated in another country. Making you the equivalent of a "new driver". You could ask ICBC, and see if that's the case, and if there are any relief/remedies? Certain driving offenses do the same thing to your rating here.
Or, you could contact some Ontario insurance companies (or see if they give online quotes?) and just use an Ontario address/postal code, to see if there's any difference. Pick a town/city, and use one of their post offices as an address. It should work.
Like someone's professional credentials are good where they came from, but maybe not so good here because the standards and qualifications may differ from nation to nation. License to practise brain surgery in the USA, might not be accepted here by the powers that decide who can do what medically (more likely the other way around, but as an example).
 
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MKinOntario said:
In Canada, it probably varies by province or territory. Some independent insurance companies like to turn back the clock on your life long driving record, since it was accumulated in another country. Making you the equivalent of a "new driver". You could ask ICBC, and see if that's the case, and if there are any relief/remedies? Certain driving offenses do the same thing to your rating.
Or, you could contact some Ontario insurance companies (or see if they give online quotes?) and just use an Ontario address/postal code, to see if there's any difference. Pick a town/city, and use one of their post offices as an address. It should work.
Like someone's professional credentials are good where they came from, but maybe not so good here because the standards and qualifications may differ from nation to nation. License to practice brain surgery in the USA, might not be accepted here by the powers that decide who can do what medically (more likely the other way around, but as an example).
Click to expand...
Right, I tried to quote insurance with Ontario address, and the cost is around $3,000 one year, which is much better.

I just talked to an insurance agent in BC, and they told me some companies use ICBC's non-negotiable price for Optional Coverage, but some will have their own price for the Optional Coverage, guess I will have to reach out to more local insurance companies and get more quotes.😥
 
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doubledoubleu said:
Right, I tried to quote insurance with Ontario address, and the cost is around $3,000 one year, which is much better.

I just talked to an insurance agent in BC, and they told me some companies use ICBC's non-negotiable price for Optional Coverage, but some will have their own price for the Optional Coverage, guess I will have to reach out to more local insurance companies and get more quotes.😥
Click to expand...
I should have added, that I have everything with one company, home/auto/RV, so they give me sort of a "bundle" rate. Extra discounts for age, good record, whatever.
 
As someone who recently moved to BC I can give you some background. Mind you rules maybe different for out of country vs out of province.

Icbc has a scale and will recognize up to 15 years of driving experience so if they're not counting your entire track record you can always contest it. I did personally when I moved. Their rates are non negotiable but recognition of experience is.

I also have additional bcaa coverage. You don't need it as it's optional. So really comes down to the coverage you want.
 
A BC resident MUST purchase basic insurance from ICBC but optional insurance can be purchased elsewhere, however the savings are miniscule as compared to the nuisance so I don't do it. The big cost is Basic and that is dependent on up to 40 years driving history. I have 40 years. My 2021 C8 includes $1,000,000 3rd party liability, $500 deductible collision, $300 comprehensive. The basic rate is really affected by driving history. My annual insurance is $1669. but (after the first year I realized I was not using it much in winter so, I insure for 8 months mid-March to mid-Nov. so $1223. With 5 years no claim history my cost would be almost double and if there was a new driver the cost would be triple.
The big killer is driving history up to 40 years. History follows the driver; not the vehicle. Plus your insurance is rated for the worst driver listed and that means anyone of driving age you live with. Based on these factors any accident with the car under about $3000 you should just pay without a claim.
 
As far as I know, you can NOT obtain optional coverage from anyone else in BC now, except ICBC. I had to switch back to ICBC for optional, once every private company left BC a year or two ago Because of the new rules here, by which private operators can not play.

If someone knows otherwise, kindly post up the optional insurance provider name. And please ensure the info is current. There may be some legacy policies still in effect put there, till the finally expire. The. It is ICBC for u.
 
Nik said:
As someone who recently moved to BC I can give you some background. Mind you rules maybe different for out of country vs out of province.

Icbc has a scale and will recognize up to 15 years of driving experience so if they're not counting your entire track record you can always contest it. I did personally when I moved. Their rates are non negotiable but recognition of experience is.

I also have additional bcaa coverage. You don't need it as it's optional. So really comes down to the coverage you want.
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Curious.

Are you talking about BCAA aka AAA for Americans or AMA for Albertans, where “optional” means a tow or tire change, or are you talking “optional” such as comprehensive and collision? Quite a difference…..I think OP means the latter.
 
Found something interesting,
So I went to BCAA's website to get a quote for Optional Coverage (Get a Quick Estimate | BCAA)
If I set I first got DL in 2015 or 2017, the cost is the same: $2,071 for one year
If I set I first got DL in 2019, the cost is: $3,500 for one year
I can't set it as 2023 as it requires a minimum of 4 years of experience.

So if the quote I get is accurate, then plus the $1,500 non-negotiable Basic plan price from ICBC, it will be around $3,500 if they honor my US drive experience, and $5,000 if they don't.

I will definitely go negotiate with BCAA if I can get a discount.
2017 quote.PNG
2019 Quote.PNG
 
Not sure if I believe the on-line quote calculator since I clicked convertible by mistake and it was $200 cheaper than coupe !!!
 
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