VANCOUVER (NEWS 1130) — ICBC introduced measures Thursday to help save money for customers who are driving less because of COVID-19.
ICBC will be waiving the $30 cancellation and $18 re-plating fees for those who choose to cancel their insurance.
“We know many British Columbians are facing financial challenges as a result of the COVID-19 pandemic,” Nicolas Jimenez, president and CEO of ICBC, says in a release.
Customers will be required to remove the plates from their vehicles and store the latter while not insured.
Customers who reinsure vehicles on May 30 or after will be able to re-use their plates. Those reinsuring prior to that date will be issued new plates at no charge, and at that time are expected to surrender their old ones, according to ICBC.
It will also allow fleet-vehicle customers to suspend their insurance, while drivers whose learner’s licences expire during the pandemic will not have to pay a retest fee.
ICBC customers will be able to use their vehicles for the delivery of food or medical products and services without changing their insurance or paying a higher premium.
The latter includes those volunteering to deliver groceries or essential supplies to seniors and others in need.
“Businesses are also having to adapt to the situation, with many companies changing their business model to offer delivery services so people can access the food and medical products they need while physical distancing. ICBC is responding to these needs and taking action to ease the burden for everyone during this difficult time,” Jimenez says.
ICBC also encourages customers to call brokers about changing coverage and lowering premiums to reflect changes in how much they drive, or about storage coverage.
The public insurer has submitted an application to the BC Utilities Commission about the proposed changes and an interim decision is expected shortly.
ICBC previously decided to allow customers who pay for their insurance monthly to defer payments for up to 90 days with no penalty.
It's not a rate reduction but @icbc offering a bit of a break to drivers.
-no fees for cancelling insurance or replating
-no need to change insurance if now using vehicle for doing delivery service for those being paid and for volunteers#bcpoli #covid19 @NEWS1130 pic.twitter.com/frSo3hzcRf
— LizaYuzda (@LizaYuzda) April 16, 2020