ICBC to offer new rebate to drivers in Spring 2025
Some financial relief will be coming to drivers in British Columbia through a new ICBC rebate.
As part of the 2025 B.C. Budget, the provincial government announced today that a $110 rebate will be provided to eligible drivers, with payments expected in April 2025.
The new provincial budget for the fiscal year sets aside $410 million for this rebate program, which will provide relief for drivers holding a Basic Insurance policy.
According to the budget, all personal and commercial ICBC customers who had an active eligible Basic Insurance policy in January 2025 — approximately 3.7 million policies — will receive the rebate.
The provincial budget states that the rebate is made possible by “better-than-expected investment returns and prudent financial management” in the previous fiscal year of 2024/2025.
This is the fourth rebate ICBC customers have received since 2021, totalling $640.
ICBC’s basic rates will be maintained through March 2026, which will mark six consecutive years with no rate increases.