Many British Columbian drivers just recently received their one-time COVID-19 rebate cheque from ICBC and now more money is on the way.
With the start of Enhanced Care on May 1, ICBC insurance now costs less, which means the corporation will start issuing Enhanced Care refunds to millions of eligible customers next week.
“Savings started automatically on May 1 and that means ICBC will be sending millions of British Columbians a one-time, pro-rated refund,” explained an ICBC release.
“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 1.”
Eligible customers will receive a personalized letter explaining the amount they’re being refunded and how the refund will be issued to them, which is based on how they paid for their insurance.
Those who pay with a credit card will get a refund to that same card, those who pay with cash or debit will get a cheque or direct deposit and ICBC payment plan customers will see the refund in the form of cheaper monthly payments.
“With millions of refunds to process, it will take some time for all refunds to be sent to customers,” the ICBC release added.
“No matter when their refund arrives, customers can be assured they will be getting the full refund they are entitled to receive.”
Direct deposit refunds are expected by mid-to-late May, credit card refunds and payment plan adjustments in late May to June and cheques will come between late May and July.
ICBC says the refund will be, on average, around $150, but some will see more than that and some will get less.
For more information on ICBC’s Enhanced Care refund, click this link.