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      09-19-2019, 10:16 PM   #23
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Quote:
Originally Posted by MetalMK View Post
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.
its all through ICBC. Location of resident also matters.
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      09-20-2019, 04:49 PM   #24
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Living in Richmond BC
Over 10y driving experience
Max 43% discount
$500/$500 deductible

I am paying $2500 /year as well
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      09-20-2019, 07:56 PM   #25
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Pretty sure I'm paying about $70 a month for the '18 M2, '18 GLC is about the same and wife's '18 GTI is a little less. It's Ontario, but still...can't see why Toronto should be so much cheaper than Vancouver...we have just as many, if not more, people that can't drive here. Plus we have actual winter weather. Sounds like you're getting ripped off. There has to be other options...it's 2019 Canada, not 1985 Poland.
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      09-21-2019, 12:47 PM   #26
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Some of the confusion in this thread comes from the new ICBC rules that came into the effect September 1st.
If you renewed your insurance before that you are still paying the old rates (most likely between 2k and 2.5k).

OP likely just renewed in September, has clean but probably not very long driving record, and low deductibles.

I'll be renewing mine in November so I'll update. Currently paying 2500 - 43% discount, 3mil, 500/300
If the ICBC quote comes too high for the collision and comprehensive I'll look into private.
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      09-21-2019, 10:28 PM   #27
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Yes everyone must take basic insurance from ICBC, thank you dave barett and the NDP government of the day. However if you have a clean driving record there is better choice for optional coverage (collision comprehensive etc) at a cheaper price, from BCAA or Belair Direct etc so shop around, I did and saved alot...and belair reviews your record every 6 months and if clean the cost down!
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      09-22-2019, 05:03 PM   #28
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Quote:
Originally Posted by mr_lab_rat View Post
Some of the confusion in this thread comes from the new ICBC rules that came into the effect September 1st.
If you renewed your insurance before that you are still paying the old rates (most likely between 2k and 2.5k).

OP likely just renewed in September, has clean but probably not very long driving record, and low deductibles.

I'll be renewing mine in November so I'll update. Currently paying 2500 - 43% discount, 3mil, 500/300
If the ICBC quote comes too high for the collision and comprehensive I'll look into private.
Quote:
Originally Posted by BJM2018 View Post
Yes everyone must take basic insurance from ICBC, thank you dave barett and the NDP government of the day. However if you have a clean driving record there is better choice for optional coverage (collision comprehensive etc) at a cheaper price, from BCAA or Belair Direct etc so shop around, I did and saved alot...and belair reviews your record every 6 months and if clean the cost down!
My insane insurance rate was before the changes to ICBC on September 1st. I purchased it through my dealership which I believe was the problem. Seeing the information provided by you guys, I asked for some quotes in the past couple days from different brokers and found out that the correct price should be around $3500 for my discount and options. And according to the people I spoke with, ICBC has the cheapest optional insurance because they can transfer the losses to the basic insurance while the private companies cannot.
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      09-22-2019, 10:18 PM   #29
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195 a month for me in bc for my M2. 5k is definitely getting ripped off.
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      09-22-2019, 11:04 PM   #30
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How is your insurance over $5k for your M2? When I bought mine new I paid $2200 for full coverage....how many years have you been driving for?
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      09-23-2019, 04:29 PM   #31
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Quote:
Originally Posted by MetalMK View Post
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.

Unless your 16 or have no driving experience this doesn't add up at all.

I am paying 2400 a year @ 43% discount with 5 mill comprehensive and under insured @ $300 deductible.

Before the discount it doesn't even hit $4K.
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      09-23-2019, 04:37 PM   #32
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Quote:
Originally Posted by OldDirtyCoaks View Post
Quote:
Originally Posted by MetalMK View Post
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.

Unless your 16 or have no driving experience this doesn't add up at all.

I am paying 2400 a year @ 43% discount with 5 mill comprehensive and under insured @ $300 deductible.

Before the discount it doesn't even hit $4K.
i feel like you and i have the identical insurance setup haha
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      09-24-2019, 06:56 PM   #33
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Quote:
Originally Posted by Tazer999 View Post
i feel like you and i have the identical insurance setup haha
I'm happy with it.

Sister is a lawyer and good friend is a broker, got roped into going with the larger amount of coverage from hearing their horror stories.

Got two speeding tickets since I renewed and one was an excessive speeding ticket, so we'll see how happy I am with it come December.
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      09-26-2019, 07:42 PM   #34
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I paid $2200 in May - living in Richmond.

Basic coverage through ICBC ($1245) with max discount and optional through Family ($955).

$3M liability with business coverage.

Everything through ICBC would have been about $225 more.

Car insurance should be open to the free market, let everyone compete.
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      09-29-2019, 03:34 PM   #35
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Quote:
Originally Posted by OldDirtyCoaks View Post
Quote:
Originally Posted by MetalMK View Post
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.

Unless your 16 or have no driving experience this doesn't add up at all.

I am paying 2400 a year @ 43% discount with 5 mill comprehensive and under insured @ $300 deductible.

Before the discount it doesn't even hit $4K.
This. I'm guessing OP is really young or has minimal driving XP...
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      09-29-2019, 09:29 PM   #36
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Quote:
Originally Posted by junx View Post
This. I'm guessing OP is really young or has minimal driving XP...
Just FYI, I got new insurance which costs less than $2500 a year. My dealership insurance ripped me off. Period. Maybe you can stop guessing how old I am now?
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      10-01-2019, 08:30 PM   #37
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Quote:
Originally Posted by MetalMK View Post
Quote:
Originally Posted by junx View Post
This. I'm guessing OP is really young or has minimal driving XP...
Just FYI, I got new insurance which costs less than $2500 a year. My dealership insurance ripped me off. Period. Maybe you can stop guessing how old I am now?
I'm actually glad you were able to resolve this and save money.
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      10-01-2019, 09:55 PM   #38
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Originally Posted by junx View Post
I'm actually glad you were able to resolve this and save money.
Thank you. I just find it funny how everyone is blaming on my lack of driving experience and age instead of the place that sold me my ridiculous insurance. I may be younger than most of you here but not enough to pay twice the amount for insurance.
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      10-01-2019, 11:30 PM   #39
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Quote:
Originally Posted by MetalMK View Post
Quote:
Originally Posted by junx View Post
I'm actually glad you were able to resolve this and save money.
Thank you. I just find it funny how everyone is blaming on my lack of driving experience and age instead of the place that sold me my ridiculous insurance. I may be younger than most of you here but not enough to pay twice the amount for insurance.
I hear you, man - I've heard of some horror stories with shady insurance brokers at the dealerships...enjoy your m2 and hopefully see you around town!
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      10-03-2019, 05:35 PM   #40
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This is why ppl should realize govt control over a industry likes this onky leads to the consumer getting raped,

Next time liberals try to persuade you think about this examplenin BC

In ontario i am paying 1500 for 2mil coverage , i think that is still too high
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