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By Aman Singh, MLA for Richmond-Queensborough

Sound Off

SOUND OFF: Keeping car insurance affordable

Dec 22, 2022 | 8:33 AM

I KNOW THAT MANY PEOPLE are worried about the rising costs of everyday expenses.

Especially as we enter the holiday season, people should be focused on spending time with loved ones, and not worrying about paying their bills. That is why our New Democrat government has all hands on deck when it comes to making life more affordable for British Columbians. 

Last week, we announced that ICBC will be applying for no overall increase to Basic insurance rates for the next two years. This would mean that Basic insurance rates will be frozen and will not have increased in B.C. for five years.

This step will give drivers more stability during these uncertain economic times, so that people don’t have to make sacrifices to pay for their car insurance. People shouldn’t have to reduce their grocery budget or take their kids out of sports to be able to afford to drive their car.

Since we made major changes to ICBC last year, insurance rates in British Columbia have gone from some of the most expensive in Canada to being the most affordable. Additionally, Enhanced Care is providing people who are injured with significantly better care, recovery and income replacement benefits compared to the previous insurance model.

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We’ve put out the ICBC dumpster fire that raged for years. When Kevin Falcon was Finance Minister, he took a half billion dollars from ICBC to fund tax breaks for the wealthiest in the province, and made drivers pay for it through higher premiums.

Now as BC Liberal leader, he opposes Premier Eby’s plan to give British Columbians a break when they need it most. If he were in power, Kevin Falcon would make B.C. more expensive for people, just like he did before.

Our government’s introduction of generational reforms to ICBC is paying off with affordable, stable rates and a path for the financial stability of the corporation.

Alongside our ICBC rate application, we are taking more steps to help people with the cost of living this winter, including providing a $100 bill credit to all BC Hydro residential customers and $500 in credit to commercial customers. 

Eligible individuals and families will also automatically receive the new BC Affordability Credit in early January. This credit is based on income and family size, up to a maximum amount of $410 for a family.

The winter months can be challenging for many, and I want people to know that our provincial government is doing what we can to help offset rising costs and make things a little easier.  

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Editor’s Note: This opinion piece reflects the views of its author, and does not necessarily represent the views of CFJC Today or Pattison Media.