How to save 10% on ICBC Insurance

How to save 10% on ICBC Insurance

Posted on April 30, 2021

In British Columbia, drivers are pretty used to paying exorbitant auto insurance premiums. For some of us, our monthly car insurance premiums can actually cost more than our monthly financing or lease payments. These expenses can make it prohibitively expensive to drive, especially for people with a higher risk factor due to inexperience or age.

There is the traditional way to lower insurance premiums by driving accident-free for years, reducing the risk factor and getting a discount. This usually takes many years to result in anything substantial.

But what if I told you there was a way to get a substantial discount on your ICBC base premium without waiting years? That's because of the advanced safety technology built into almost every new vehicle we sell. These various safety suites can save you money on your insurance once you insure an appropriately equipped vehicle.

ICBC recognizes that innovations in safety technology reduce the likelihood of serious accidents. A vehicle equipped with Autonomous Emergency Braking (AEB) is allowed to save 10% on ICBC basic insurance. Honda calls AEB its Collision Mitigation Braking System (CMBS), while Toyota calls it their Pre-Collision System (PCS) and Mazda calls it Smart City Brake Support (SCBS). When these systems detect that a collision with a vehicle or pedestrian is imminent, it works to reduce the severity and likelihood of a frontal collision by automatically applying the brakes.

The discount is not automatic. So talk to your insurance agent to find out from us if your vehicle qualifies for the AEB incentive.