Car insurance in Vancouver

You may need to pay over $2,000 per year to get car insurance in Vancouver, which is BC’s largest city. Even if you apply discounts and get the absolute minimum level of coverage, you’ll still likely pay higher rates in Vancouver than you will in the rest of the province. This holds true whether you only have third-party liability or if you choose to add collision and comprehensive onto your policy.

Average cost of car insurance in Vancouver

The average cost of car insurance in Vancouver will typically exceed $2,000 based on the minimum level of coverage. This is higher than the average provincial estimate, which sits at $1,832 per year since it factors in the cost of multiple risk factors for large cities. These include more traffic congestion, more pedestrians, more thefts and narrower streets.

The cost of your car insurance will also depend on other personal factors such as your age, your gender, which neighbourhood you live in, how much you drive each year, how long you’ve been driving for and whether you’ve had any accidents in the past few years. This makes it difficult to figure out what the true average rate would be when applied across all demographics.

Cheapest car insurance in Vancouver

It’s hard to say where you can find the cheapest car insurance in Vancouver. This is because it’s not possible to compare rates unless you go into an ICBC Autoplan broker to get a quote. That said, you may be able to apply for extended insurance online, but you’ll need to know your base rate from ICBC first to get a full picture of how much your insurance will cost.

Even without exact numbers, it’s safe to say that you’ll typically pay less for insurance if you live on the outskirts or suburbs of Vancouver. You’ll typically pay higher rates if you live in the downtown core or commute to work in the city every day. You may also be required to pay more if you live in a high-risk neighbourhood with a high number of accidents or thefts.

Which company offers the best car insurance?

It’s difficult to pinpoint which company offers the best car insurance in Vancouver. There are dozens of reputable car insurance agencies that operate in the city, including reputable brands such as Allstate, The Co-operators and BCAA. Many brokers will also sell third-party collision and comprehensive insurance for companies such as Intact, Economical and RSA.

To get the best car insurance in Vancouver, you may want to source quotes from at least five car insurance companies. You can find the brokers that work nearest you with a handy tool available from ICBC. It also makes sense to check available discounts if you want to knock your monthly premiums down.

Minimum provincial requirements for Vancouver car insurance

You’ll be required to purchase ICBC’s mandatory Autoplan coverage if you live in Vancouver. This includes the following types of car insurance:

• Liability insurance. Pays for medical bills and vehicle damage for another driver if you get into an accident with them that’s deemed to be your fault (minimum $200,000).
• Accident benefits. Reimburses you for your own medical expenses and time off work if you get into an accident.
• Uninsured motorist coverage. Covers the cost of various expenses if you get into a collision with an uninsured motorist or hit-and-run driver.
• Inverse liability protection. Gives you protection in parts of Canada or the US where local laws don’t let you claim against the person who caused your crash.

Are there eligibility requirements for car insurance in Vancouver?

Eligibility requirements

To apply for car insurance in Vancouver, you’ll typically need to meet the following criteria:

• Be at least 16 years old
• Have a valid Canadian driver’s licence
• Own the vehicle you wish to insure
• Be willing to purchase the minimum amount of liability coverage

How to apply

If you think you meet the eligibility criteria, you can apply for car insurance coverage with these simple steps:

1. Visit an ICBC Autoplan broker or compare quotes online for extended insurance from a number of different companies.
2. Decide on a provider that seems to be the best fit for your unique set of needs and budget.
3. Upload the required documentation to get your insurance – including a valid driver’s licence, proof of address and the bill of sale for your vehicle.
4. Get verified and work with your car insurance provider to negotiate the terms of your coverage if you meet the eligibility requirements.

How can I lower my premiums in Vancouver?

It’s difficult to lower your car insurance premiums in Vancouver because ICBC has a monopoly on the car insurance industry in BC. That said, you may be able to do the following to get a better deal on your next policy:

• Apply for discounts. Look into what discounts you could be eligible for with ICBC and the provider you get your extended coverage through.
• Maintain a clean driving record. Drive safely and according to the rules of the road to avoid traffic violations and collisions that could drive up your premiums.
• Keep your mileage low. Get behind the wheel on an as-needed basis and get discounts when you keep your mileage below 5,000km per year.
• Get the lowest level of basic coverage. Pay for only the minimum level of third-party liability ($200,000) to get the absolute lowest premiums.
• List a more experienced primary driver. List your parents, your spouse or another more experienced driver as the primary driver on your insurance to save money.
• Pay annually instead of monthly. Pay your insurance premiums in one lump sum to get a discount on your rates.

Bottom line

It will likely cost you more to get car insurance in Vancouver than it will in the rest of BC. This is because big cities have a higher rate of accidents and thefts than small towns and less central hubs. Find out how much you’ll likely have to pay for car insurance in Vancouver and compare providers today to get the best insurance for your unique set of needs and budget.

Frequently asked questions

• What type of insurance can I get in Vancouver?

  You can only get ICBC’s basic Autoplan insurance as mandatory coverage in Vancouver. This is because the government-run crown corporation is the only company licensed to sell mandatory insurance in the province of BC. However, you can compare providers to find the best insurance if you’re looking for extended coverage such as comprehensive or collision.

• Why do I have to purchase mandatory insurance from ICBC?

  You have to purchase ICBC’s Autoplan coverage because it’s legislated by the provincial government in BC. This means you won’t be able to compare providers for the most basic level of third-party liability coverage. That said, you should plan to consider quotes if you want to add any insurance beyond the bare-bones coverage provided by ICBC.

• How much does car insurance cost in Vancouver?

  The most basic level of car insurance in Vancouver will likely cost you at least $2,000 per year. This is higher than the provincial average since those living in big cities will often pay higher rates than those who live in small towns or remote locations. You can expect to pay thousands more than this if you add extended insurance such as collision or comprehensive onto your policy.

• What kinds of discounts can I get on my car insurance?

  The types of discounts you can get on your car insurance will depend on what provider you go with. Discounts are often applied based on your age, claims history, driving habits, how many vehicles you insure and whether you bundle your insurance.

• How do I file a claim if I get into an accident in Vancouver?

  You’ll need to reach out to your insurance company to find out how to file a claim. You’ll usually have to make a log of what kind of vehicle damage you have and provide some documentation to prove your claim. You may also be required to authorize an investigation if there are questions about who’s at fault or what level of coverage you may be eligible for.