Service Alert Flood information ICBC is here to help British Columbians affected by flooding. Read more. Last updated Friday, Nov 19, 2021 02:33 PM Autoplan insurance Home Autoplan insurance What determines insurance costs? What determines your cost of insurance? Want to understand how your insurance premiums are determined? Read all about the factors that go into your insurance costs. Get an estimate You will be asked to list those who drive your vehicle when you go to renew your insurance. To help you prepare for your visit to an Autoplan broker, use this tool to pre-list drivers and get an estimate. Get an estimate Driver and vehicle risk Like any insurer, we try to match insurance costs to a driver's and a vehicle's risk—that is, the likelihood of a claim in the future. The higher the risk, the more you’ll pay in insurance. The more crashes you’ve caused, for example, the more it will cost to insure your car. The good news is, safe driving and lots of experience can help to lower your premiums. Experience You'll earn better Basic insurance discounts with each year of driving experience, up to 40 years. Crash history The more crashes you cause, the more you'll pay in insurance. Who drives your car You’ll be asked to list who drives your car. Their experience and crash history will also be considered. Drivers, experience and crash history Where you live We divide the province into territories based on geography, because traffic and other driving risks vary around the province. How you use your car Your premiums reflect how you use your vehicle - for example, pleasure only or business use. Territory and rate class Other factors There are a few more factors that will determine how much you’ll pay for insurance. Discounts and savings Certain features of your car may qualify you for a discount, such as advanced safety technology or anti-theft devices. If you drive less than 5,000 km in a year you may also qualify for a new discount. Discounts and savings Your level of protection If you choose Optional products such as Collision, Comprehensive or Extended Third Party Liability, this will add to what you pay. The vehicle you drive The age, make, model and features of the vehicle you drive, along with its repair costs, affect your Optional premiums. Your deductible Your deductible is the amount you pay in a claim before we cover the rest. The lower the deductible, the more your coverage will cost. Our regulator The B.C. Utilities Commission is the independent regulator for ICBC and approves Basic insurance rate changes. BCUC and rates Was this page helpful? Locate a service near you Driver licensing office Autoplan broker Claim centre Collision repair facility Glass repair facility Services Auto insurance Claims Driver licensing & ID Vehicles & registration Road safety Company About ICBC Careers News and media Contact us Report a claim Report a claim online Vancouver 604-520-8222 Toll free 1-800-910-4222 Help FAQs Facebook Twitter Instagram Back to top facebook twitter youtube linkedin instagram Ask a questionTerms and conditionsPrivacy statement Copyright © 2021 ICBC. All rights reserved.