ICBC has added an online tool so people can estimate how much they can save when they renew their vehicle insurance under Enhanced Care and how much they will get in a refund from ICBC.
When the program is up and running on May 1, the insurance estimator will be found at icbc.com/enhancedcare. When Enhanced Care, customers who purchase basic and optional insurance from ICBC will save 20% on average, said a government news release, and most customers will also be eligible for a one-time, pro-rated refund.
To use the tool, a customer needs to log in with their B.C. driver's licence and licence plate numbers. Customers can view and adjust coverage options, and calculate an estimate for their upcoming renewal. The tool will compare what they paid last time and approximately how much they will save under Enhanced Care. If a customer is within 45 days of their renewal date, they can save the information to review it with an Autoplan broker when it is time to renew and pay.
For eligible customers, the tool will display a refund amount of the difference between their current Autoplan coverage and the new, lower-cost Enhanced Care coverage. The refund amount depends on the customer's renewal date and how much of their current policy extends beyond May 1, 2021.