How to save money on your car insurance


Classic car
Classic car

Insuring your vehicle in British Columbia is expensive. I would not be alone in suggesting that the reason for this is the fact that all basic insurance has to come from the Insurance Corporation of British Columbia (ICBC). There are other insurance companies but these only provide the optional top up policies. So ICBC has a monopoly on insurance.

If you are moving to British Columbia and want to get a discount on your insurance then you have to convince ICBC of your no-claims record. And to do that you have to do it according to their rules.

The basic requirements are that you provide your claim history record as follows:

  • Be on the insurance company’s letterhead.
  • Show the main driver’s name and the policy number.
  • State the period you had coverage, and the dates of any at-fault claims.

If you have lived in various places, or have shopped around for the best deal every year (as we did in the UK), then you may well have a lot of claims histories to get.

Here are some tips I got from an insurance agent last week.

1. It is definitely worth getting the claim history if you have a good claims record. You will save a lot of money.

2. Phoning works best. He said you’d probably need to call 2-3 times to get what you wanted.

3. Ask the company to fax the claims record, in the correct form, to your Autoplan broker.

4. The ICBC web site says that you have 6 months in which to make your claim for the discount. This is not strictly true. He told me that ICBC will apply your discount but will only back date it up to 6 months. So however long you’ve been in B.C. you can still go back and get some discount applied.

See my page on Car Insurance too.

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