Buying Car Insurance as a Student in BC for the First Time

Step 1: understand ICBC Basic Autoplan

Every vehicle on the road in BC must have ICBC’s Basic Autoplan — the legally required minimum coverage, which mainly includes basic third-party liability, accident benefits and so on. Without it, the car can’t be driven legally.

The exact coverage amounts and contents of Basic Autoplan need to be verified.

Step 2: whether to add optional coverage

On top of Basic, common optional coverages are:

• Extended Third Party Liability: raises your liability limit above the Basic minimum. Strongly recommended, because in a serious accident the basic limit often isn’t enough.
• Collision: pays for collision damage to your own car.
• Comprehensive: non-collision losses like theft, break-ins, hail and fire.

If you finance or lease the car, the dealer/bank will usually require collision and comprehensive coverage.

Why students pay more, and how to save

Students usually have little driving experience and no local claims record, so premiums run high. A few practical directions:

1. Submit overseas driving history to have ICBC recognize your years of experience — see How new immigrants can use overseas driving history for an ICBC discount;
2. Choose a lower-risk, cheaper-to-repair car — don’t start with a high-performance vehicle;
3. Set a sensible deductible to balance premium against out-of-pocket cost when something happens;
4. Ask whether there are discounts that fit your situation. Available discount programs need to be verified.

Common beginner mistakes

• Driving on Basic only: your liability limit may be nowhere near enough — a big risk.
• Registering the car under someone else’s name to save money: this can affect claims and may even be a violation. Not recommended.
• Not declaring the real use: e.g. actually using it for Uber / food delivery but insuring it for personal use — a claim could be denied.

Next step

Send me the car you’re looking at, your budget and your licence situation on WeChat, and I’ll work out a rough coverage approach and set up the insurance when you register the car. If you’re renting, it’s also worth looking into tenant insurance.