Exclaiming “the rubber hits the road,” BC’s Minister of Public Safety and Solicitor General Mike Farnworth announced on Tuesday that ICBC has launched its new online insurance estimator program.
“Now drivers can see how much they’re going to save and how much of a refund they can expect after May 1, when Enhanced Care comes into effect,” he said. “Most customers will also be eligible for a one-time, pro-rated refund.”
A customer needs to log in with their BC driver’s licence and licence plate numbers to use the tool. 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.
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The tool will 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, 2021.
“Today’s announcement brings us one step closer to the promise of more affordable auto insurance rates for British Columbians,” said Nicolas Jimenez, president and CEO, ICBC. “Our online estimator tool will help to make clear the extent of Enhanced Care savings British Columbians can expect as we move toward our May 1 launch.”