News ICBC’s red light on insuring luxury cars comes too late: critic SHARE ON: Kyle Balzer, staff Friday, Nov. 25th, 2016 The BC government and ICBC announced this week they’re putting up a red light on insuring luxury vehicles as a way to stop rising repair costs. The official opposition, however, calls the implementation too little too late, saying drivers across the province, including those behind the wheel in Prince George, have been subsidizing high-end cars for the past five years. Adrian Dix is the BC NDP’s MLA for Vancouver-Kingsway and critic for BC Hydro. “So the result of this is, and it’s a direct result of Liberal policies, we’re going to be seeing massive rate increases and obviously for people struggling with other costs, it’s not very good news.” There were 3,000 luxury cars insured this past year in BC and Dix says taxpayers have been paying 30% more insurance since the last election. “So people who drive pickup trucks, people driving Fords, and people driving Nissans shouldn’t be cross-subsidizing people driving Ferraris. That makes sense, but it should’ve been done years ago.” He believes ICBC should be more confident in properly pricing insurance and massive rate hikes will likely happen in the short-term.