ICBC to issue another round of COVID-19 rebates

“Most customers who had an active auto insurance policy from Oct. 1, 2020, to March 31, 2021, will be eligible for the rebate. Exceptions include customers with short-term, storage or distance-based policies, whose premiums already reflect lower usage. The rebate is approximately 11% of the premium customers paid for coverage during this six-month period.

“ICBC received about 20 per cent fewer crash claims than expected between Oct.1 2020, and March 31, 2021, but also saw a reduction in premium revenue as customers made changes to their insurance policies, held off on getting new ones or cancelled them.

ICBC says the size of the rebates will vary but note 70 per cent will get a rebate of between $60 and $200.

The rebate will be distributed based partly on how customers paid for their insurance policy. Customers who used a credit card will have their COVID-19 rebate returned to the card they used. Customers who paid by cash, debit or Autoplan payment plan will be mailed a cheque to the latest address on file with ICBC.

by CKPG Today

ICBC to issue another round of COVID-19 rebates

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