Victoria – ICBC and the Province announced a $110 rebate for customers with eligible policies.
The rebate is available due to strong investment returns. It applies to all personal and commercial customers who had an active eligible policy in January 2025.
Rebates will start going out in mid-March, and more will be sent daily until the end of May.
How you paid for your insurance is the method you’ll receive your rebate. ( you won’t get cash, you receive a reduction on your payment)
Find out more: icbc.com/rebate2025
From their March 26 media release and update:
ICBC has started delivering 3.7 million rebates of $110 to eligible customers. The rebates total $410 million and apply to all personal and commercial customers who had an active eligible Basic insurance policy in January 2025.
“As a result of prudent fiscal management and the strong financial position of ICBC, we have another opportunity to put money back into the pockets of ratepayers,” said Garry Begg, Minister of Public Safety and Solicitor General. “This rebate is just one small way for ICBC to give back to its customers as we all navigate global economic uncertainty and increased costs in the face of unjustified tariffs.”
This marks the fifth rebate for ICBC customers since February 2021, a total of approximately $640 in rebates for every eligible customer.
“When ICBC is financially strong and stable, we all benefit,” said David Wong, ICBC’s president and CEO. “We’re able to provide this rebate back to our customers thanks to strong investment returns. We’ve also been able to hold Basic insurance rates steady with no increases for six years while maintaining healthy capital reserves.”
Eligible customers will receive a letter from ICBC detailing their rebate amount and payment method, according to how they paid for their insurance. ICBC has reviewed its business practices and is working exclusively with Canadian vendors to deliver these rebates, in light of U.S. trade actions.
