The province hiked insurance penalties by 20 per cent for both Driver Penalty Point (DPP) premiums and Driver Risk Premiums (DRP) on Nov. 1. 

When calculated annually, Jade Sharp's bill comes to $3,000 — three times what she paid for her used car.

A B.C. driver was shocked to discover her yearly ICBC insurance rate would cost more than the car she was insuring.

"I want other drivers to know about this case and warn people not to let ICBC bully them around," said Willis Clarke.

The change to ICBC's "unlisted driver protection" came along with other recommended changes announced Friday.

David Eby promised the province is starting to look at online sales, which would still be managed by brokers.

The insurer spent nearly three quarters of a billion dollars in 2017 at body shops alone.

ICBC says the new $50 annual premium reflects the fact that one in five cars involved in crashes is borrowed.

"You can stand by the ocean and order the tide not to come in... but it's coming in."

"This is a very low margin industry, and so there's really no fat."