ICBC has released an online tool to estimate what motorists can expect to save in the coming year as Enhanced Care comes into effect in May.
The B.C. Government unveiled the tool on Tuesday, estimating that customers who have basic and optional insurance from ICBC will save about 20% on average. As well, most eligible drivers will get a one-time, pro-rated refund. That is all when Enhance Care kicks in on May 1, 2021.
Mike Farnworth, Minister of Public Safety and Solicitor General made the announcement, saying drivers will be able to see the savings estimates in minutes.
“What it will do is show you how much you’ll save under Enhanced Care versus what you paid last time, and if you are eligible, it will also display a refund amount of the difference between your current auto plan coverage and the new lower-cost Enhanced Care coverage.”
“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 of 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, delivering not just lower-cost insurance but also significantly improved benefits, regardless of fault.”
The online estimator tool requires your driver’s license number and license plate number. The B.C. Government said the tool also allows motorists to adjust their various coverage options to calculate and estimate their insurance costs when their vehicle is up for renewal.
A link to the online tool can be found below.
MORE: Enhanced Care Savings (ICBC)