Image: Darryl Dyck, The Canadian Press

By Mike Vanden Bosch

ICBC rates

ICBC to hold the line on rate increases

Oct 28, 2025 | 8:42 AM

CHILLIWACK — The provincial government announced Tuesday morning that B.C. drivers won’t face any increase in basic insurance rates through to spring 2027.

In a statement, the B.C. government says the rate stabilization marks the seventh consecutive year without an increase to basic driver insurance rates.

“Keeping basic insurance rates low and stable is part of our government’s commitment to affordability and helping people manage their day-to-day budgets,” said Niki Sharma, Attorney General and minister responsible for ICBC. “We’re making sure drivers have access to affordable coverage and some of the strongest care and recovery benefits in the country without compromising financial sustainability.”

Following a thorough analysis of its finances, ICBC determined that basic auto insurance rates do not require a change through to 2026-27 fiscal year, eliminating the need for an application to change rates with the B.C. Utilities Commission in 2025 and postponing any potential need for an application until late 2026.

“With insurance rates stable, we can put our efforts toward enhancing customer experience and expanding online services,” said Jason McDaniel, interim CEO and president, ICBC. “As a public auto insurer, run by British Columbians for British Columbians, we are dedicated to providing affordable, steady rates and fiscal stability to the people and places where we live.”

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