The rebate, announced by ICBC on Friday, June 11, 2021, is approximately 11 per cent of the premium customers paid for coverage during this six-month period. (Pixabay photo)

The rebate, announced by ICBC on Friday, June 11, 2021, is approximately 11 per cent of the premium customers paid for coverage during this six-month period. (Pixabay photo)

2nd ICBC rebate set for mid-July, averaging $120 per policy

Most drivers who had an active auto insurance policy from October 2020 to March 2021 will be eligible

ICBC will issue a second COVID rebate as part of the plan to respond to fewer crashes during the past year and a half of the pandemic.

ICBC will start distributing rebates averaging $120 per policy in mid-July, returning approximately $350 million in additional rebates to 2.94 million customers. This builds on the first COVID-19 rebate of $600 million for a total of $950 million. Unlike the first rebate, for some this will be put back on their credit card, pending how a driver pays for their insurance.

Most drivers who had an active auto insurance policy from October 2020 to March of this year will be eligible for the rebate. Exceptions include customers with short-term, storage or distance-based policies, whose premiums already reflect lower usage.

The rebate is approximately 11 per cent of the premium customers paid for coverage during this six-month period.

In a statement Friday (June 11), Public Safety Minister Mike Farnworth said the insurance corporation is in a “strong financial position,” receiving about 20 per cent fewer crash claims than expected between October 2020 and March 2021, with an estimated impacts of about $450 million.

RELATED: NDP government bails out ICBC with $1 billion transfer

RELATED: ICBC caps pain and suffering awards at $5,500 amid losses

This means that despite a reduction in $100 million in revenue due to drivers reducing or cancelling their insurance policies to reflect working from home and travel restrictions, savings totalled roughly $350 million.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

CoronavirusICBC

Just Posted

Forty sled dogs were seized by the BC SPCA from a Salmo kennel in February. A recent ruling has decided the dogs won’t be returned. Photo: Gounsil/Flickr
BC Farm Industry Review Board rules against Salmo kennel after 40 sled dogs seized

Spirit of the North Kennels was also ordered to pay BC SPCA $64,000

Residents line up outside the Vernon Recreation Complex for their COVID-19 vaccine Saturday, June 5. (Jennifer Smith - Morning Star)
No appointments necessary for first dose COVID-19 vaccine: Interior Health

People can just show up at clinics, register on the spot and get the shot

SD20 now has an electric bus. Photo: Submitted
Kootenay-Columbia School District 20 adds electric bus to fleet

Bus will be incorporated into Castlegar route for next school year

Painting by Dave Davies from Shaver’s Bench facing Teck Trail.
Happy 120th Birthday to the City of Trail!

The town of Trail Creek- or Trail Creek Landing - was incorporated as a city on June 14, 1901.

Cropped photo: Silver Screen Drive-in will be in the upper parking lot of Waneta Plaza.
Summer drive-in returns to Trail unveiling blockbuster movies

PHOTOS: Scroll to bottom for a trip down memory lane to the Auto Vue Drive-In

At an outdoor drive-in convocation ceremony, Mount Royal University bestows an honorary Doctor of Laws on Blackfoot Elder and residential school survivor Clarence Wolfleg in Calgary on Tuesday, June 8, 2021. THE CANADIAN PRESS/Jeff McIntosh
‘You didn’t get the best of me’: Residential school survivor gets honorary doctorate

Clarence Wolfleg receives honorary doctorate from Mount Royal University, the highest honour the school gives out

"They will never be forgotten, every child matters,” says Sioux Valley Chief Jennifer Bone in a video statement. (Screen grab)
104 ‘potential graves’ detected at site of former residential school in Manitoba

The Sioux Valley Dakota Nation is working to identify and repatriate students buried at the Brandon Indian Residential School

The Queen Victoria statue at the B.C. legislature was splattered with what looks like red paint on Friday. (Nicole Crescenzi/News Staff)
Queen Victoria statue at B.C. legislature vandalized Friday

Statue splattered with red paint by old growth forest proponents

Police cars are seen parked outside Vancouver Police Department headquarters on Saturday, January 9, 2021. THE CANADIAN PRESS/Darryl Dyck
Vancouver police officer charged with assault during an arrest in 2019

The service has released no other details about the allegations

Denmark’s Christian Eriksen receives medical attention after collapsing during the Euro 2020 soccer championship group B match between Denmark and Finland at Parken stadium in Copenhagen, Saturday, June 12, 2021. (AP Photo/Martin Meissner, Pool)
Denmark soccer player Christian Eriksen collapses during game against Finland

Eriksen was given chest compressions after collapsing on the field during a European Championship

Members of the Department of Fisheries and Oceans’ Marine Mammal Response Program rescued an adult humpback what that was entangled in commercial fishing gear in the waters off of Entrance Island on Thursday, June 10. (Photo courtesy Marine Mammal Response Program)
Rescuers free humpback ‘anchored’ down by prawn traps off Vancouver Island

Department of Fisheries and Oceans responders spend hours untangling whale

As stories of the horrors of residential schools circulate after the Tk’emlups te Secwepemc First Nation announced it had located what are believed to be the remains of 215 children, Grand Chief Stewart Phillip of the Union of B.C. Indian Chiefs said he feels a connection with the former students. THE CANADIAN PRESS/Darryl Dyck
2 sides of the same coin: Ex-foster kids identify with residential school survivors

Grand Chief Stewart Phillip says the child welfare system takes Indigenous children from their families

Nathan Watts, a member of the Tseshaht First Nation near Port Alberni, shares his story of substance use, a perspective he said isn’t seen enough. (Photo courtesy of Nathan Watts)
Public shaming, hate perpetuates further substance use: UVic researcher

Longtime addict Nathan Watts offers a user’s perspective on substance use

Most Read