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ICBC to drop coverage of luxury cars

The province has introduced a change to ICBC, it says, will help keep our insurance premium increases to a minimum.
Minister of Transportation, Todd Stone says ICBC will no longer insure high-end luxury cars, those are cars worth 150,000 dollars and over….
That means, once the legislative changes are made, private owners of these cars will have to purchase their insurance through private insurance.
Stone says the move not to insure high end cars is is just one of a number of actions that government and ICBC will be rolling out over the coming weeks and months to continue to address cost pressures on rates.
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