25
Sep
2020

ICBC's Temporary COVID-19 Relief Measures

by Homestead Insurance | September 25th, 2020 |    0comments
ICBC

Once approved by the BC Utilities Commission, ICBC implemented consumer relief measures several months ago. These included:

  • Waiving of $30 cancellation fees
  • Allowing delivery drivers to stay insured under their current rate classes without changing to Delivery Use (013)
  • Suspending fleet insurance for fleet vehicles not being driven
  • Allowing customers to choose to retain their licence plates upon canceling their ICBC insurance, to be used later when re-insuring their vehicle(s)
  • Waiving the first knowledge test fee for those who hold their Learner's licence already, but have let it expire
  • Waiving of $18 new plate fees

The last two supports will remain in place for now (the waiving of new plate fees will end October 19, 2020). The first four, however, have ended as of August 20, 2020. Additionally, Autoplan customers who have chosen to finance their insurance through monthly payment plans and who are struggling financially due to COVID-19 still have the opportunity to defer their payments for up to 90 days without penalty.

What this means for delivery drivers:

You must ensure that your current rate class is apprpriate to the use of your vehicle. If you are using your vehicle for delivery use more than 6 days per month, your rate class should reflect that and be listed as "013."

What about fleet customers?

ICBC has this to say with regard to fleet consumers:

"Fleet customers who are already in rate class 919 before August 20 can stay in 919 until their policy term is up for renewal. They will not be able to renew in rate class 919, but the policy can lapse for up to one year past the renewal date."  (ICBC winds down three temporary COVID-19 support measures, Broker News)

Did you retain your plates?

You still have until October 19, 2020 to reuse your retained plates. However, as of August 20, 2020, the option to retain your licence plates upon cancellation is no longer available.

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In the future, ICBC may choose to extend certain consumer relief measures by seeking re-approval from the BC Utilities Commission. Keep your ears to the ground.

Drive safe and enjoy the remains of summer, everyone!


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