Quick facts for car insurance in Vancouver
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Quick facts for 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.
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.
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.
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.
You’ll be required to purchase ICBC’s mandatory Autoplan coverage if you live in Vancouver. This includes the following types of car insurance:
To apply for car insurance in Vancouver, you’ll typically need to meet the following criteria:
If you think you meet the eligibility criteria, you can apply for car insurance coverage with these simple steps:
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:
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.
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