Changes to the Vehicle Insurance Act will introduce a new insurance model, Enhanced Care coverage, that will save drivers an average of 20% or $400 starting in spring 2021.
With this legislation, British Columbians can expect increased access to medical care and significantly enhanced recovery benefits—to a maximum of at least $7.5 million, up from today’s limit of $300,000. They’ll get many other benefit enhancements, such as an income replacement benefit 60% higher than today, where British Columbians will be eligible for up to $1,200 per week, or 90% of net wage loss for those earning up to $93,400 annually. It includes new legal requirements that ICBC must assist each claimant with making a claim and endeavour to ensure they are informed of, and receive, all the benefits to which they are entitled. British Columbians will have lower insurance rates, where drivers save about 20%, or an average of $400. This new care-based insurance, known elsewhere as no-fault insurance, has proven to be a successful and effective model for other public auto insurers in Canada, including in Manitoba and Saskatchewan.