File photo (Image credit: CFJC Today).

By Megan Dykeman, MLA for Langley-East

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SOUND OFF: Delivering relief to drivers

May 15, 2024 | 10:33 AM

BRITISH COLUMBIA’S DRIVERS have reason to celebrate as they receive more benefits from the New Democrat government’s overhaul of ICBC.

Last week, David Eby announced a new rebate of $110 will soon be going out to ICBC policy holders in B.C., accompanied by a continued freeze on basic car insurance rates for everyone into 2026.

This is possible because of prudent financial management at ICBC under our government – unlike the previous Liberal government under Kevin Falcon (now, the B.C. United Party), who subjected drivers to escalating insurance costs year after year.

Under Premier Eby’s leadership and Premier Horgan before him, ICBC has undergone a remarkable turnaround, with drivers having saved an average of $2,000 in rebates and reduced rates under our government. This is in stark contrast to when the leader of the opposition Kevin Falcon and leader of the B.C. Conservatives John Rustad were in government and put ICBC’s profits towards tax breaks for the wealthy—leaving drivers to bear the brunt of skyrocketing insurance premiums.

Our New Democrat government is not only putting money back in people’s pockets, we’re also making sure that as many costs rise due to global inflation, British Columbians can count on their basic car insurance rates staying the same. By freezing basic rates for the sixth year, we’re providing relief to drivers and businesses alike. ICBC is committed to making sure they’re in good financial standing now and into the future so that drivers can continue to benefit from steady insurance rates.

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Drivers can expect to receive their rebates between late May and the end of July. You’ll receive your rebate through the same method of payment that you used to pay for your insurance—it will come as a credit card refund, direct payment plan adjustment, or cheque.

These rebates and rate freezes are just one of the ways that we’re helping provide relief for British Columbians from global inflation and rising costs. They come in addition to actions like increasing the B.C. Family Benefit, Climate Action Tax Credit and providing BC Hydro credits, making transit free for kids under twelve, dramatically decreasing child care rates, and more.

Our government is committed to making sure ICBC works for people, and we will continue to support measures to make life more affordable for British Columbians.

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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.