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ICBC tool estimates savings after shift to no-fault model

1/27/2021

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ICBC customers will save money in 2021 under the crown corporation's new Enhanced Care program. On Tuesday, Minister of Public Safety and Solicitor General Mike Farnworth showcased an online calculator that gives customers an idea of how much lower their ICBC premiums will be going forward.

The change reflects a shift to a no-fault model that significantly lowers legal costs.

"For eligible customers, the tool will display a refund amount of the difference between their current Autoplan coverage and the new, lower-cost Enhanced Care coverage," says a statement from the ministry."The refund amount depends on the customer’s renewal date and how much of their current policy extends beyond May 1, 2021."
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  • Membership
    • Why Join?
    • Job Board
    • Member to Member Offers
    • Benefits, Discounts & Savings >
      • Chamber Store
    • Chamber Local
    • 1863 Impact Award
    • Questions & Answers
    • Join Now
    • Member Login
  • Member Directory
  • Events
    • Signature Events >
      • Annual Auction
      • Business Awards
      • Business Hall of Fame
      • Business Leaders Series
    • Event Calendar >
      • Chamber Events
      • Community Events
    • Event Photos 2023
    • Sponsorship
  • News & Advocacy
    • Weekly BizNews >
      • BizNews-articles
    • Advocacy / Wins for Business >
      • Advocacy Wins
      • Business Property Taxes
      • Advocacy Priorities
    • Chamber Chats
    • In the News >
      • Published Op-Eds
      • Media Releases
    • Non-market housing
    • Find and keep workers
    • Business Matters Magazine
    • COVID-19
  • 1863 Home
  • About Us
    • Emerge >
      • Emerge Events
      • Emerge Mentorship
      • Emerge Connect
    • Staff Directory
    • Board & Governance >
      • Governors
      • By-Laws, Plans & Reports
      • Committees
    • Chamber History
    • Partners & Sponsors
    • About Victoria >
      • Starting a Business
      • Moving Here
      • Visiting Victoria, BC
    • Contact Us