The answer to that question is “yes”, according to the Canadian Taxpayers Federation, when it comes to auto insurance rates in this province.
Kris Sims, BC Director of the Canadian Taxpayers Federation, says they have launched a 30-foot tall ICBC monopolist balloon on the Legislature in Victoria today to try to get that message across to the politicians.
“We have named him Baron Von Fender Bender. Frankly ICBC rates are a joke. They are a government forced monopoly, they are the highest in the country and it is fundamentally unfair that we are paying these ridiculously high rates for auto insurance.”
Here Sims gives an example of how high rates are here in the north…
“For example if you had a young man, say the age of about 24 years old living up in a place like Prince George, he is paying on average more than 260 dollars more every year to insure his Ford F-150 year 2010, compared to his identical twin would in say a place like Fort Mac. So if you compare Prince George to Fort Mac, 24-year old guy, driving his Ford pickup truck, Prince George you’re getting screwed over because you’re paying more than 260 dollars more. Same person, same vehicle, same insurance, way bigger price tag.”
Sims gives another example a little further south in Kamloops…
“Say you have a woman, about age 55, and she’s driving a Toyota Camry, an average one say a 2016, she has one at fault accident in her entire driving career, she is paying 448 dollars more to insure her car with ICBC in Kamloops than she would for the same car, same driving record, same insurance coverage, in Medicine Hat.”
Sims says the ICBC monopoly balloon will be visiting other cities this summer.
The character is smoking a cigar and lighting it with burning money and she says, since ICBC is bordering on insolvency, the balloon’s pockets are turned inside out.