ICBC rebate 2025: Here’s what you need to know about the $110 rebate​on March 26, 2025 at 7:17 pm

B.C. drivers can expect to get some relief as ICBC is set to hand out a $110 rebate this spring, thanks to the auto insurer’s strong financial position.

The rebate will apply to 3.7 million policies, totalling $410 million, which will be paid out to commercial and personal customers in the coming weeks.

This is the Insurance Corp. of B.C.’s fifth rebate for customers since February 2021 since it switched to a no-fault insurance model in 2021.

“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 B.C. Solicitor General Garry Begg. “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.”

Here’s what you need to know:

All personal and commercial ICBC customers who had an active eligible basic insurance policy in January 2025 will receive the rebate, which will total about 3.7 million policies.

Vehicles with an average basic premium of less than $250 over a two-year period will not be eligible for the rebate. That includes golf carts, off-road vehicles, utility vehicles, limited-speed motorcycles, trailers and collectors cars. It also does not include storage policies and temporary operation permits.

The $110 rebate will be issued per policy, so if a household has two cars, they’ll get two rebates. If more than one person owns a vehicle, ICBC will send one cheque made out to all registered owners (except if they have signed up for the payment plan).

The NDP has promised to keep insurance rates steady until March 31, 2026. The last basic rate increase was in 2019.

ICBC said most eligible customers should expect their rebate between now and the end of April.

For direct deposit, the rebate will be deposited into their bank account. Once the rebate is processed, it could take up to three days to show up in your account. Customers who paid by credit card will be refunded on the card, while those on monthly payment plans will see their bill adjusted.

ICBC customers who paid by cash or debit card have to wait for cheques. Cheques will be distributed starting April to the end of May. Delivery of cheques can take up to six weeks.