British Columbia, the third-most populated province in Canada pays the second-highest auto insurance rate per-annum. Most commercial and private car owners in this part of the town consider the average auto insurance relatively high compared to other provinces like Ontario, Alberta, and Quebec.
Although auto insurance quotes in British Columbia has been a hot topic, the province attributes the dramatic increase in these debate to underlying factors which include a spike in the cost of vehicle repair liabilities, injury and lawsuit claims.
Car owners in British Columbia pay an average auto insurance of 1,832 per year according to a statement released recently by the Insurance Bureau of Canada. This average premium is estimated by correlating total auto insurance quotes collected from passenger vehicles and dividing it by the number of vehicles plying through each province. Recent data released by the Insurance Bureau of Canada also shows that residents of Alberta, Ontario, and Quebec pay an annual average of 1316CAD, 1505CAD, and 717 CAD respectively.
The auto insurance quotes from these neighboring provinces are way lower compared to the whooping sum motorist in British Columbia are expected to pay each year. More so, the Insurance Corporation of British Columbia affirmed that these premium rates are likely to skyrocket in the years ahead. However, unlike British Columbia, auto insurance quotes in these neighboring provinces are compulsory but for regions like Vancouver Island, Thompson Okanagan, and Kootenay Rockie, they will have an option to shop around for the best deals through renowned and private insurers.
Let’s talk a bit about some regions in British Columbia.
Vancouver Island is one of the highest-ranked gridlocked cities in Canada lacking a freeway system for motorists to drive through. A survey has it that commuting around this region requires a good auto insurance plan. Moreover, with a minimum cost of coverage regulated by the British Columbia government, motorists in Vancouver Island are most likely to pay an average auto insurance quote worth 1, 800CAD or more per year.
Thompson Okanagan is one of the regions in British Columbia which boasts of diverse climate, dessert, valleys, and the Rocky Mountains. Motorists on this side of the province are likely to get diverse auto insurance policies from private insurers. Getting an auto insurance quote can be demanding in this region. However, with auto insurers like Harbord insurance, private and commercial drivers can work their way through 1,850CAD annually.
Located in eastern British Columbia, Kootenay Rockies is blessed with many outdoor adventures. From astonishing Mountain tops to eternal powdery snows, skiers, snowboarders, hikers and the many residents therein would sure have a fun-filled year in this wonderland. Talking about auto insurance here wouldn’t be any challenge as they have fully licensed and highly qualified insurance brokers ready to sooth outrageous auto insurance quotes. With some insurers, yearly premium quotes will not go overboard.
Wrapping it up
While the insurance corporation of British Columbia (ICBC) tolls day and night to soothe the pain of outrageous auto insurance quotes in this province, they are also on the look to add more private insurers and provide affordable premium options for car owners in British Columbia.