Thought of the Day - April 21 - Car Insurance Rebates
- Cliff Fraser
- Apr 21, 2020
- 1 min read
Updated: Jul 30, 2021
Hi All,
As you may have seen, insurance companies across North-America are reporting record-low car insurance rates claims. No surprise: rush hour traffic is a thing of the past, company road-trips have been curtailed and even holiday “road-cations” are discouraged. As a result insurance companies are doing the right thing, lowering rates and providing rebates.
This is good news for most of the folk across North-America; in Ontario they are looking for a 50% rebate. Strangely this has not been reported in BC.
Welp, we have one of the only nationalized car insurance schemes. As a result here in the lower mainland we pay the highest rates in the country. Unfortunately, the best we can hope for is ICBC will lose a lot less money this year. Hey, they might even break even, and not have to increase our rates next year!
Yeah, good luck with that.
Cheers
Cliff
Hi Cliff - yes the insurance Crown corp is only offering peanuts compared to insurers across the country/border. I understand ICBC has taken away plate charges and insurance cancellation charges but nothing on reducing or reducing temporary relief on premiums.
Best,
Harpreet