[MetalMK]

Everyone in BC says the same thing because ICBC is the only insurance company here that charges outrageous prices for car insurance.

I have a prefect driving record, no crashes, no violations of any kind, not even a parking ticket. And I am paying over 5 thousand dollars for insurance per year for my M2. And don't get me started on gas prices that is more expensive than California, at one point I was paying 2 dollars for one litre of gas.

For what it's worth, someone have told me that a Lamborghini Huracan, a car that costs almost 4 times as much as my M2, only costs 2500 USD a year to insure in California.

[FreeDarko]

And I thought Ontario insurance rates were too high.

But there are other insurance companies you could choose from, right?

[tastic]

Originally Posted by MetalMK

Everyone in BC says the same thing because ICBC is the only insurance company here that charges outrageous prices for car insurance.

I have a prefect driving record, no crashes, no violations of any kind, not even a parking ticket. And I am paying over 5 thousand dollars for insurance per year for my M2. And don't get me started on gas prices that is more expensive than California, at one point I was paying 2 dollars for one litre of gas.

For what it's worth, someone have told me that a Lamborghini Huracan, a car that costs almost 4 times as much as my M2, only costs 2500 USD a year to insure in California.

Yeah, ICBC is the worst. I just moved from BC to AB last month and just insured my 18 M2 here in AB for 1400CAD/yr. Over $5K for an M2 is insane. Are you not getting any discounts by providing your drivers abstract and claims history showing your clear record?

[MetalMK]

Originally Posted by FreeDarko

And I thought Ontario insurance rates were too high.

But there are other insurance companies you could choose from, right?

No, ICBC is playing monopoly here, it is owned by Province of British Columbia and I believe there is a law not allowing any other insurance companies here. In Ontario you have three insurance companies to choose from, right?

[Yvette]

5k for m2 is insane

[MetalMK]

Originally Posted by tastic

Yeah, ICBC is the worst. I just moved from BC to AB last month and just insured my 18 M2 here in AB for 1400CAD/yr. Over $5K for an M2 is insane. Are you not getting any discounts by providing your drivers abstract and claims history showing your clear record?

The discount is already applied to my insurance rate, it is showing on my insurance papers. But there is no discount for optional insurance like third-party or collision unless you drive less than 5000 km a year, it calculates based on your vehicle's purchase price.

[MetalMK]

Originally Posted by Yvette

5k for m2 is insane

I see your location is also Vancouver. How much are you paying? If I remember correctly, my options aside from the basic insurance are 5 million, $300, $300.

[Commanderwiggin]

You could always move...I did and while California and their liberal tendancies are pretty bad, it's no where near as bad as the socialist nature of Canada. The health care is far better down here as well imo and less tax to boot.

[FreeDarko]

Originally Posted by Commanderwiggin

You could always move...I did and while California and their liberal tendancies are pretty bad, it's no where near as bad as the socialist nature of Canada. The health care is far better down here as well imo and less tax to boot.

California dreamin!

Unfortunately it's not that easy to move if you're heavily invested in the community and have family around.

OP, can't believe BC setup a monopoly like that. Already we pay high taxes in Canada, the least Gov't could do is introduce competition to reduce cost of expenses such as vehicle insurance, cellular data etc.

[MetalMK]

Originally Posted by Commanderwiggin

You could always move...I did and while California and their liberal tendancies are pretty bad, it's no where near as bad as the socialist nature of Canada. The health care is far better down here as well imo and less tax to boot.

Moving is not an option... I love Vancouver. Name another city in North America where it is -5 degrees in winter and +30 degrees in summer, where the city centre is right beside mountains, forests with twisty roads and beaches and the ocean while still being the second biggest city in the country. There is a reason why in 2019, Vancouver ranked number 3 in the world for quality of life, right behind Vienna and Zurich.

[Commanderwiggin]

Originally Posted by MetalMK

Moving is not an option... I love Vancouver. Name another city in North America where it is -5 degrees in winter and +30 degrees in summer, where the city centre is right beside mountains, forests with twisty roads and beaches and the ocean while still being the second biggest city in the country. There is a reason why in 2019, Vancouver ranked number 3 in the world for quality of life, right behind Vienna and Zurich.

I've been to Vancouver many times and the only unique thing it has is Whistler. California is a far nicer place to live and thus my decision.

[MetalMK]

Originally Posted by Commanderwiggin

I've been to Vancouver many times and the only unique thing it has is Whistler. California is a far nicer place to live and thus my decision.

The only unique thing California has is 20 hours of rush hour every day and 2 days of rain every year. If California is so nice why isn't LA even in the top 10 of the ranking?

[Yvette]

Originally Posted by MetalMK

I see your location is also Vancouver. How much are you paying? If I remember correctly, my options aside from the basic insurance are 5 million, $300, $300.

About $2500/y

[MetalMK]

Originally Posted by Yvette

About $2500/y

What? My friend's BRZ costs $3000 a year, and someone else I know's S2000 costs $4100 a year. My base insurance (without discounts) is over $2000 a year. What options do you have?

[Commanderwiggin]

Originally Posted by MetalMK

The only unique thing California has is 20 hours of rush hour every day and 2 days of rain every year. If California is so nice why isn't LA even in the top 10 of the ranking?

If looking at a ranking sheet makes you happy, very well. I personally find the traffic in Vancouver way more frustrating not to mention the slow drivers. Regardless we're all different and there's no sense going further; if we were all the same then we'd all live in one spot.

[Yvette]

Originally Posted by MetalMK

What? My friend's BRZ costs $3000 a year, and someone else I know's S2000 costs $4100 a year. My base insurance (without discounts) is over $2000 a year. What options do you have?

Over 10y driving experience
Max 43% discount
$500/$500 deductible

$2500/year is still high imo. My m3 was cheaper

[DOMs335D]

I'm sorry that's not adding up. I'm in BC as well and I also have an M2 and with full discount and 3M liability and 1M underinsured Motorist protection I pay 2100.

[RIP_MKVI]

$5K per year is ridiculous...I'm paying $3K for my 2019 M2C, my wife's 2019 GLC and our daily 2016 Civic combined. AND I have a crash and a ticket on file.

[MetalMK]

Originally Posted by Yvette

Over 10y driving experience
Max 43% discount
$500/$500 deductible

$2500/year is still high imo. My m3 was cheaper

The discount only applies to the base rate, optional insurance prices do not have discounts. Which agency did you buy your insurance from if you don't mind me asking.

[MetalMK]

Originally Posted by DOMs335D

I'm sorry that's not adding up. I'm in BC as well and I also have an M2 and with full discount and 3M liability and 1M underinsured Motorist protection I pay 2100.

Im sorry but that is what I am paying, you can believe it or not believe it. I don't know how you are paying only $2100 as my $300 deductible collision insurance option costs $2000. Do you mind telling me where you got your insurance from?

[Ceridan]

Originally Posted by MetalMK

Im sorry but that is what I am paying, you can believe it or not believe it. I don't know how you are paying only $2100 as my $300 deductible collision insurance option costs $2000. Do you mind telling me where you got your insurance from?

His sounds about right, my M2 was insured from brand new for about the same, $2100 per year with max 43% discount. It shouldn't matter who you get it from, for "M" vehicles they don't offer optional coverage, you have to buy it from ICBC, or at least I did when I bought mine. For what it's worth I do all my insurance through Coast Capital, maybe they could quote you a better price.

Best of luck!

[MetalMK]

Originally Posted by Ceridan

His sounds about right, my M2 was insured from brand new for about the same, $2100 per year with max 43% discount. It shouldn't matter who you get it from, for "M" vehicles they don't offer optional coverage, you have to buy it from ICBC, or at least I did when I bought mine. For what it's worth I do all my insurance through Coast Capital, maybe they could quote you a better price.

Best of luck!

ICBC does not have optional coverage for M cars? Only base insurance? I understand that insurance comes from ICBC, so everyone should have similar quotes. What is confusing is everyone around me is getting similar rates while everyone on this forum gets much cheaper quotes. But if $2100 dollars is just base+third party and no collision, it would sound about right.