ICBC has announced it will be introducing a new distance-based discount in 2023 for those who drive their vehicles less than 10,000 km per year.
HOW MUCH WILL I SAVE?
Eligible drivers will save between 5 and 15 per cent on certain ICBC optional coverages. The amount of your discount will be higher the less you drive.
DO I QUALIFY?
To be eligible for this discount, you must:
- drive less than 10,000 km per year
- provide photos of two odometre readings one year apart as proof
- have an existing annual ICBC Autoplan policy with optional coverages
- have a vehicle that falls under an eligible rate class (motorcycles, RVs and collector vehicles are excluded)
HOW DO I GET THE DISCOUNT?
To get the discount, provide a photo of your odometre reading the next time you renew or purchase a new ICBC policy. The discount will be applied a year later at renewal if you can provide a photo of your odometre reading which shows that the vehicle has been driven less than 10,000 km in that year.
HOW IS THIS DIFFERENT FROM THE LOW-KILOMETRE DISCOUNT?
This distance-based discount is separate from the low-kilometre discount, which applies to ICBC Basic insurance and Extended Third Party Liability and Collision coverage on vehicles driven than 5,000 km per year. If you qualify for the low-kilometre discount, you may also simultaneously qualify for the distance-based discount, as they can apply to different coverages.
Questions? Find an Acera Insurance office and get in touch with one of our experienced, knowledgeable Client Advisors.
Need to renew? Our advisors can help over the phone, by email or at one of our offices.