The ICBC, like all of the public insurance companies, is compulsory. But it isn't so much a problem with insurance as it is a problem that the department of motor vehicles won't allow an inspection and have essentially banned them from the roadways.
One work around might be to "sell" it to a relative that is out of province and register it there. Because of reciprocal agreements between states and provinces, it would be able to be operated on BC roads. But at some point you might have to answer for why it is continually in BC with an out of province plate.
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