ICBC is rolling out a new distance-based discount.
British Columbians who drive less than 10,000 kilometres per year, and with policies effective June 1, 2023 or later, may be eligible to save between 10 and 15 per cent on their optional coverage when renewing this year.
ICBC says the discount will be greater, the less distance people drive.
To be eligible for this new discounts, drivers must: drive less an 10,000 kilometres per year; provide two odometer readings one year apart, as proof of driving distance; have a 12-month autoplan policy with ICBC optional coverage; and have an eligible vehicle, as motorcycles, RVs and collector vehicles are ineligible.
ICBC says a recent survey shows that 56 per cent of British Columbians say they are interested in a usage-based insurance, with cost savings being the top-motivating factor.
The company says that this new discount “builds upon our existing low-kilometre discount” introduced in 2019 for vehicles driven less than 5,000 kilometres a year.
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