When ICBC calculates how much you'll pay in insurance premiums, they consider your driving experience, crash history, who drives your car, where you live, and whether you use your car for business. If you’re looking for ways to lower your insurance payments, then read on for additional savings tips. 

1. Drive less – you'll qualify for a 10% ICBC discount if you drive less than 15,000 kilometres (km) annually. You can get an additional discount on your optional insurance coverage if you drive less than 5,000 km/year
2. Don’t drive to work – take a bus or bike instead because having a ‘pleasure use’ rating on your vehicle insurance means you'll pay a lower premium
3. Don’t get into accidents – lower your Individual Driver Factor (IDF) by being a good driver
4. Purchase an annual policy – it’ll help avoid short-term fees or financing charges
5. Get your driver’s licence early – when you move from an ‘N’ status, you have more time to drive accident-free, which will positively impact your IDF
6. Opt for higher deductibles – this is the amount you pay in a claim before ICBC covers the rest. The lower the deductible, the more your insurance will end up costing

As part of ICBC’s driver-based insurance model, every driver in BC is given a driver factor – a 3-decimal point number that represents your risk on the road. The lower the IDF, the lower the driving risk, the lower the premium.

Want to learn more about Individual Driver Factor and how it impact your ICBC Insurance? Click here to find out more.