British columbia car insurance calculator

When you have an insurance contract to insure a resident of B.C. or a property situated in B.C. Insurance Premium Tax is charged. The tax is charged on premium payments made as consideration for the insurance contract, such as premium deposits, assessments, registration fees and contributions by members.

Insurance premium tax is charged on premiums based on the physical location of the property or the residency of the person being insured, not based on where the business of insurance is conducted. If an insurance contract covers risks located in more than one province, the portion of the premium covering risks located in B.C. is considered the BC premium.

Most insurance products sold in B.C. are purchased from licensed insurers. When insurance is purchased from a licensed insurer, the licensed insurer must file and pay the insurance premium tax.

Unlicensed insurance commonly covers hard-to-place risks. If you enter into an insurance contract with an unlicensed insurer, you’re required to file and pay insurance premium tax.

Related Posts

British columbia social insurance

Get a Social Insurance Number (SIN) as soon as possible after taking up residence in Can...

British health insurance companies

Four British medical insurance companies hold a 90 per cent market share in the UK: Bupa, Prud...

British insurance market cafe

There is an Information Desk in the Entrance Hall where staff can help you with questions abou...

Broad form products insurance

A business that delivers cargo, such as a trucking or shipping company, purchases an insurance...

Broadform insurance liability

Many business owners are familiar with the term public liability, but what about broadform lia...

Broadform public and products liability insurance

Many business owners are familiar with the term public liability, but what about broadform lia...

Broadgate equine insurance

Hull (Centre), North Humberside, Skidby, Eppleworth, Weel, Low Gardham, Elloughton, Riplingham...

Broadway insurance services blackfalds

By Brian Herrick, Sgt. RCMP NCO i/c Blackfalds Integrated Traffic Services R...

Broadway plaza insurance agency lawrence

Inquire about being added to our curated list: EverQuote Pro AAA Insuranc...

Brock insurance agency hendersonville nc

YP - The Real Yellow Pages SM - helps you find the right local businesses to meet your specifi...

Brock norton insurance va

Brock-Norton Insurance is located at the address 120 Falcon Dr in Fredericksburg, Virginia 224...

Broken mobile phone insurance claim

The other day I knocked my iphone off the side in my kitchen, the screen is now smashed and th...