lCBC has begun moving forward with issuing millions of Enhanced Care refunds to eligible customers.
The Enhanced Care program, which started May 1st, is intended to save BC drivers an average of 20% compared to last year’s premium.
Therefore, ICBC has offered refunds to customers who renewed their insurance under the old system.
A one-time, pro-rated refund will be issued based on a policy holder’s difference between what they paid when they last renewed, and the lower cost of ICBC’s care-based model.
ICBC said eligible customers will receive a personalized letter regarding the Enhance Care refund explaining the amount they are being refunded for each eligible vehicle they insure.
The average Enhanced Care refund will be approximately $150, but ICBC said that number may vary.
The amount will also vary based on however long their current policy extends past May 1, 2021.
“These letters will detail how the refund will be returned to customers based on how they paid for their insurance,” ICBC said.
ICBC will be issuing refunds of all sizes, even those of just a few dollars or less.