BC Auto Insurance

BC auto insurance is government run, which means there is no competition and you must buy the insurance from the government company, Insurance Corporation of British Columbia (ICBC).

The minimum liability coverage for BC is $200,000. The ICBC is required to cover you for $200,000 for injury and personal damage to others. If the claim is higher then this amount, the insurance company will pay no more then $20,000, property damage, and you will be responsible for any amount over this. This liability also covers injuries to you. Regardless of fault, if you are injured, ICBC will pay for a maximum of $50,000 of your medical bills, and 75 % of your weekly earning for the duration you are not able to work. This can occur for a maximum of 104 weeks and cannot be more the $300 per week.

If you are killed in an accident, your family will be compensated for your death, but this amount depends on many factors.

The government run system is a double-edged sword. Sure the insurance companies cannot gouge you for insurance, but also you have no other options, or comparative prices. If you want to purchase insurance above the minimum, you may however purchase that from other privately run companies. A list of companies can be found in the Buy Insurance Section.

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