ICBC rates increase 6.4 per cent for basic coverage today.
Announced in September, Attorney General David Eby said the rate hike comes after ICBC recorded its largest loss in history.
The basic rate increase translates to $57 a year more for the average B.C. driver on basic insurance.
For drivers who also have ICBC’s optional insurance coverage, a series of quarterly increases in those rates mean the average driver will be paying $130 a year more by next year.
Drivers with at-fault crashes now also face steeper rate increases than are currently assessed.
With files from Tom Fletcher
@ashwadhwani
ashley.wadhwani@bpdigital.ca
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