ICBC to issue second COVID-19 rebate
ICBC (Photo supplied by MyPGNow.com staff)
Drivers in northern BC will be getting more of their money back.
ICBC will issue a second COVID-19 rebate due to fewer crashes during the COVID-19 pandemic.
“We’ve been clear that any pandemic-related savings against ICBC’s bottom line will benefit customers,” said Mike Farnworth, Minister of Public Safety and Solicitor General.
“The good news is that ICBC is in a strong financial position to issue a second COVID-19 rebate to customers, putting more money back in the pockets of B.C. drivers.”
The auto insurance company will start distributing rebates averaging $120 per policy in mid-July, returning approximately $350 million in additional rebates to 2.94 million customers.
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.
Unlike the first rebate, which ICBC issued by cheque and mailed to customers, the second one 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.