“ found that auto insurance in provinces with publicly owned care-based models is more affordable than in provinces with private insurance models,” ICBC said in its press release.Notably, the report came approximately 16 months after the province changed its insurance model, with ICBC claiming that B.C. drivers saved an average of $490 when renewing their insurance for the first time.
That reduction in price, said ICBC, came from removing “the adversarial approach of suing drivers and the hundreds of millions that were being spent on legal fees under the previous litigation-based system.”ICBC continued, saying “it’s a lower cost model that passes those savings onto customers through lower insurance rates and sees more money going directly towards the care and recovery of British Columbians injured in crashes.
ICBC’s new model, called Enhanced Care, does have its critics, though, and Global News has covered several stories on that topic.
Source: Car News Wire (carnewswire.net)
But toddstonebc told us all that private insurance was way cheaper than ICBC. Was he not being honest?
Thank you Premier Eby.
Time to increase the rate because Global says so. See how this works?
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