New round of ICBC rebates going out to eligible British Columbians
$110 rebate is fifth-such rebate to be sent out since February 2021, insurer says
Eligible ICBC customers will soon find themselves with an extra $110 as a new round of rebates is sent out, the auto insurer announced Wednesday.
ICBC said in a release that most customers who had an active Basic insurance policy in January 2025 will be eligible for the rebates, which total $410 million. It added this was the fifth rebate for ICBC customers since February 2021.
"When ICBC is financially strong and stable, we all benefit," said ICBC President and CEO David Wong.
"We're able to provide this rebate back to our customers thanks to strong investment returns. We've also been able to hold Basic insurance rates steady with no increases for six years while maintaining healthy capital reserves."
Eligible drivers will receive a letter, which includes the rebate amount and payment method.
Drivers who paid for their insurance by credit card will see the rebate refunded to the card, ICBC said. Those who paid by cash, cheque or debit will see it refunded by cheque or direct deposit, the insurer added.
Additionally, in light of U.S. trade actions, ICBC said it will be working exclusively with Canadian vendors to deliver the rebates.
"This rebate is just one small way for ICBC to give back to its customers as we all navigate global economic uncertainty and increased costs in the face of unjustified tariffs," said Minister of Public Safety and Solicitor General Garry Begg.
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