BC drivers that drive under 15,000 kilometres a year will be eligible for an Optional insurance premium discount.
ICBC said select Optional coverages could see a 10 to 15 per cent discount, depending on how much has been driven during a one-year policy term.
The discount applies to collision, extended third party liability, comprehensive and specified perils coverages, expanding the threshold for discount eligibility by 5,000 kilometres from the existing 10,000 threshold to include more drivers.
Drivers would be eligible if they:
- Drive under 15,000 kilometres a year
- Provide two odometer readings one year apart, as proof of driving distance
- Have a 12-month Autoplan with ICBC Optional coverage
- Have an eligible vehicle (motorcycles, RVs, collector vehicles and certain other vehicles aren’t included)
They said the discount will build on its existing usage-based discount program, and will be available for drivers renewing policies from June 1st, onwards.
More detailed information about the ICBC discount can be found here.
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