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Originally Posted by Sly
Can somebody explain to me why there is only one insurance company? Is it a law?
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Provincial Monopoly. The Insurance Corporation of British Columbia (ICBC) insures everyone in BC. They can not charge you more money based on your age, number of seats in your car or otherwise. Collision and Theft insurance scale depending on the value of the vehicle, and no matter how many accidents you've had they can't deny you insurance as long as you're willing to pay the premium which gets higher and higher every accident you have.