ICBC tool provides drivers with estimate on car insurance savings | iNFOnews | Thompson-Okanagan's News Source

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ICBC tool provides drivers with estimate on car insurance savings

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January 26, 2021 - 1:31 PM

ICBC has launched an improved online tool to give drivers an estimate on how much they will save when they renew their vehicle insurance.

The insurance estimator helps customers understand what the upcoming premium savings will mean to them. When Enhanced Care comes into effect May 1, customers who purchase basic and optional insurance from ICBC will save 20% on average. Most drivers will also be eligible for a one-time, pro-rated refund, according to a press release issued by the province.

"Our government is set to deliver much more affordable ICBC premiums, and now drivers can see how much they're going to save and how much of a refund they can expect after May 1," said public safety Minister Mike Farnworth, in the press release.

READ MORE: ICBC applying to cut basic insurance rates by 15 per cent

To use the tool, a drivers need to log in with their B.C. driver's licence and plate numbers. Customers can view and adjust coverage options, and calculate an estimate for their upcoming renewal.

The tool will compare what they paid last time and approximately how much they will save under Enhanced Care. If a customer is within 45 days of their renewal date, they can save the information to review it with an Autoplan broker when it is time to renew and pay, according to the release.

The tool will also display a refund amount of the difference between their current Autoplan coverage and the new, lower-cost Enhanced Care coverage. The refund amount depends on the customer's renewal date and how much of their current policy extends beyond May 1.

Drivers can find the tool online through ICBC's website.


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