The BC Liberal Party says it will open up car insurance to the private market if elected in the upcoming provincial election.
The Liberals say the current ICBC model will remain available to drivers, but private insurers will also be able to offer coverage for vehicle damage and injuries.
“The ICBC monopoly is a failure and it’s time to offer drivers cheaper rates — that’s what competition will do and that’s what the BC Liberals will deliver,” said Liberal Leader Andrew Wilkinson in a release Tuesday.
The Liberals say that under their proposed insurance plan, new drivers would be given credit for two years of clean driving experience as soon as they are licenced, or four years if they have completed driver education.
“When I hear stories of young people with clean driving records stuck with bills of over $5,000, it’s clear the system is failing and needs to be fixed,” said Wilkinson. “Young people face enough pressure these days, so the BC Liberals will make sure they have affordable auto insurance.”
On Tuesday, both Wilkinson and BC NDP Leader John Horgan announced that they would make a COVID-19 vaccine free for all British Columbians, if elected.
The province’s political leaders continue to campaign as the Oct. 24 election approaches.