How are auto insurance premiums set?

• Rate classes - What you use your vehicle for: business, driving to work or school, pleasure, etc.
• Where you live - If you drive where there's heavy traffic, you have a higher chance of being involved in a crash, so your insurance costs more. That said, who knows exactly where they'll be driving every day? So for non-commercial vehicles, your territory is decided by where you park your vehicle when it's not in use.
• Your claim record - If you have a long record of claim-free driving, you save money through our Claim-Rated Scale and RoadStar savings. If you cause crashes, then you pay a higher premium.
• The vehicle you drive - Cars that are expensive to repair, cars that tend to be involved in crashes, cars that are stolen more often than others: all cost more to insure when you buy optional insurance.
• Additional coverage - What type and how much optional coverage you choose to buy will obviously affect your premiums.
  for more information visit: www.icbc.com