Victoria – First the COVID related rebates and now this.
Starting next week, ICBC will begin moving forward with issuing millions of Enhanced Care refunds to eligible customers.
With the launch of Enhanced Care on May 1, ICBC insurance now costs less. Savings started automatically on May 1 and that means ICBC will be sending millions of British Columbians a one-time, pro-rated refund. Each customer’s refund amount will be for the difference between what they paid when they last renewed their current insurance policy and the new, lower cost of Enhanced Care, for however long their current policy extends past May 1st.
Customers who are eligible for an Enhanced Care refund will receive a personalized letter explaining the amount they are being refunded for each eligible vehicle they insure. These letters will detail how the refund will be returned to customers based on how they paid for their insurance:
- Customers who paid using a credit card will receive a refund to that credit card. If your credit card has expired or ICBC is unable to validate this method of payment, you will receive a cheque.
- Customers who paid by cash or debit will receive a cheque in the mail, or a direct deposit into their bank account if they are eligible and have signed up.
- ICBC payment plan customers will receive their refund in the form of adjustments to their monthly payments, which will now be lower.
With millions of refunds to process, it will take some time for all refunds to be sent to customers
