ICBC has seen savings on crash and injury claims in the COVID-19 pandemic, with traffic on B.C. roads reduced. (Penticton Western News)

ICBC has seen savings on crash and injury claims in the COVID-19 pandemic, with traffic on B.C. roads reduced. (Penticton Western News)

ICBC opens online calculator for rate savings starting in May

Bypassing courts expected to save 20% on average

The Insurance Corp. of B.C. has launched an online estimator to let people calculate their savings from the NDP government’s removal of court cases from most accident and injury cases.

The new system takes effect in May, and is expected to reduce ICBC rates for mandatory basic and optional vehicle insurance by an average of 20 per cent or $400 a year. The online estimator is at icbc.com/enhancedcare and it shows how much each customer can expect to save based on their renewal date and their costs in the current year.

The estimator requires customers to log in with their driver’s licence and vehicle plate numbers to see their renewal cost for 2021, which will vary depending on how much their current Autoplan policy extends beyond May 1. Farnworth said it can also show the result of changes in coverage, such as the addition of a new driver or added optional insurance coverage.

Farnworth said Jan. 26 he will be announcing a rebate for ICBC customers soon, based on savings to the corporation in 2020 as the COVID-19 pandemic reduced travel, crashes and insurance claims.

RELATED: ICBC applies for 15% rate decrease as lawyers pushed out


@tomfletcherbc
tfletcher@blackpress.ca

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