It's a little costlier to drive in B.C.

ICBC insurance rates jumped Wednesday by 6.4 per cent, a planned increase announced in September.

The rate bump amounts to an extra $57 per year for the average motorist with basic coverage.

The increase comes after ICBC recorded its largest loss in history – more than half a billion dollars – in 2016.

Optional insurance rates will rise by 3.1 per cent for the first quarter next year and gradually rise to a maximum of 9.6 per cent.

Despite the rate hike, the insurer is projected to lose close to $300-million next year.