ICBC reduces optional auto insurance premiums by 3%

ICBC has announced an average reduction of 3% in optional insurance premiums, effective Nov. 1, 2010.
“In addition to the 2.4% reduction to our basic insurance rates announced last month, we are also reducing our optional premiums by an average of 3%, generating combined savings of $80 million for our customers,” said Jon Schubert, ICBC’s president and CEO. “Our customers’ smart driving decisions, our multi-million-dollar investments in road safety and auto crime prevention have had a significant and positive impact.”
The changes mean ICBC’s optional insurance premiums have gone down by more than 20% over the past six years.
“This is the third year in a row that our customers’ combined insurance rates have gone down,” said Schubert. “At a time when the price of everything seems to be going up, ICBC’s insurance rates are once again coming down.”