Toronto, Ontario -- A Canadian auto insurer is expanding a program that rewards drivers for staying off the roads.
The Insurance Corporation of British Columbia has announced an expansion to its distance-based discount program by offering motorists driving less than 15,000 km per year with a 10 to 15 percent discount on select optional insurance coverage programs. This builds upon an existing program offering discounts to those driving less than 10,000 km annually.
To be eligible for the expanded discount, drivers must:
ICBC maintain a 12-month autoplan policy with ICBC optional coverage; provide two odometer readings, one year apart, as proof of annual driving distance; and own an eligible vehicle (motorcycles, RVs, collector vehicles and certain other vehicles are excluded).
The discount applies to several optional coverage levels, including extended third party liability, collision, comprehensive and specified perils. Additionally, drivers who travel less than 5,000 km annually may also qualify for a 10 percent discount on their basic insurance.
Since the inception of the distance-based discount program in 2019, over 1.4 million ICBC customers have benefited, with 882,000 discounts applied in the past year alone. The Crown corporation encourages all drivers, even those not currently qualifying for the discount, to submit their odometer readings during policy renewal. This data aids in the development of future usage-based insurance products tailored to driving habits.
Drivers can renew their insurance up to six weeks before their policy's expiration. Those with policies starting on or after June 1, 2025, are encouraged to renew early to take advantage of the new discount structure.
