ICBC: $110 rebates now on their way to customers

March 26, 2025

ICBC has started delivering 3.7 million rebates of $110 to eligible customers. The rebates total $410 million and apply to all personal and commercial customers who had an active eligible Basic insurance policy in January 2025.

“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 Garry Begg, Minister of Public Safety and Solicitor General. “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.”

This marks the fifth rebate for ICBC customers since February 2021, a total of approximately $640 in rebates for every eligible customer.

“When ICBC is financially strong and stable, we all benefit,” said David Wong, ICBC’s president and CEO. “We’re able to provide this rebate back to our customers thanks to strong investment returns. We’ve also been able to hold Basic insurance rates steady with no increases for six years while maintaining healthy capital reserves.”

Eligible customers will receive a letter from ICBC detailing their rebate amount and payment method, according to how they paid for their insurance. ICBC has reviewed its business practices and is working exclusively with Canadian vendors to deliver these rebates, in light of U.S. trade actions.

“As a public insurer, all ICBC profits – including from our Optional insurance products – stay within British Columbia, keeping rates affordable and benefitting the economy and B.C. communities,” said Wong. “We also invest $50 million every year to make B.C. roads safer – from improving roads and education campaigns to the intersection safety camera program."

ICBC employs thousands of people across the province and collaborates with a wide network of partners including auto body and glass repair shops, insurance brokers, health care practitioners and driving schools. We provide services that are integral to the everyday lives of people living in B.C. – from affordable Basic auto insurance, vehicle registration, driver licensing and identification services, to significant investments in road safety initiatives every year.

For more information on rebate eligibility, timing and payment methods, visit icbc.com/2025rebate.