ICBC | Understanding your insurance costs

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Here you will learn about the cost of your insurance and how you can save money.

The cost of your vehicle insurance is based on:

Your claim record is the biggest factor in setting the cost of your insurance premium.

We use a Claim-Rated Scale to determine your cost. Learn about the Claim-Rated Scale »

Like most people, you want to save money.

Find out how to qualify for money saving discounts »

Premium

The amount of money you pay to the insurance company for your coverage. All premiums are pooled by the insurance company, which then uses that money to pay out claims. Learn more about how premiums are set»
Basic Autoplan

The minimum amount of insurance any vehicle must carry to legally operate in British Columbia. Learn more »
Own Damage coverage

Protection against your own vehicle-related losses where they are not the fault of another motorist from whom you can recover damages. Such protection is provided by Collision, Comprehensive or Specified Perils coverage. This coverage is not included in Autoplan Basic Insurance and must be purchased separately as optional coverage. For protection against harm or damage you may cause against others, you must purchase Third Party Liability Insurance.