B.C. drivers are paying as much as 42% more than Albertans for insurance


Kendra Mangione CTVNewsVancouver.ca producer

VANCOUVER — A report released by the Insurance Bureau of Canada suggests some B.C. drivers pay significantly more than their neighbours to the east.

The IBC made public Tuesday a report from Calgary-based accounting firm MNP, which suggests it costs more to be a driver on the West Coast than in Alberta.

MNP suggests drivers insured through the Insurance Corporation of British Columbia – B.C.’s only auto insurance option – pay up to 42 per cent more.

The firm looked at quotes obtained through brokers in both provinces for 14 different drivers, then compared the prices for those drivers, with the same vehicles and same coverage, in what it calls “comparable locations across both provinces.”

One example MNP gave was a driver in Surrey, B.C., and in Calgary.

The study said the hypothetical driver, a 49-year-old business owner, would pay $573 more for a year of insurance on a 2014 Ford F-150 in Surrey than in Alberta’s largest city.

Read the full article here: https://bc.ctvnews.ca/b-c-drivers-are-paying-as-much-as-42-more-than-albertans-for-insurance-a-report-suggests-1.4788192