ICBC expands Optional insurance distance-based discount

April 23, 2025

B.C. drivers who drive under 15,000 kilometres annually will soon be eligible for a new discount on their Optional insurance premium. Drivers may save between approximately 10 to 15% on select ICBC Optional coverages depending on how much they drive during their one-year policy term. These new savings build on ICBC’s existing usage-based discount program and will be available for drivers renewing policies from June 1, 2025, onwards.

“We know many of our customers are interested in usage-based insurance with cost savings being the top motivating factor and it’s our goal to provide affordable auto insurance to the people living in B.C.,” said David Wong, ICBC’s president & CEO. “Driving less not only lowers your risk of getting into a crash, it’s also better for the environment. We hope more of our customers will be able to take advantage of the new Optional distance-based discount now available.”

The new 15,000 km discount applies to most of ICBC’s Optional insurance products including Extended Third Party Liability, Collision, Comprehensive and Specified Perils coverages, and expands the threshold for discount eligibility by 5,000 kms from the existing 10,000 km threshold, allowing more drivers to take advantage of savings.

Drivers may be eligible for the new expanded Optional distance-based discount if they:

• Drive less than 15,000 kilometres per year

• Provide two odometer readings one year apart, as proof of driving distance

• Have a 12-month Autoplan policy with ICBC Optional coverage

• Have an eligible vehicle (motorcycles, RVs, collector vehicles and certain other vehicles are not included)

More than 1.4 million ICBC customers’ policies have been reduced by a distance-based discount since they were introduced in 2019, including 882,000 discounts last year alone.

“We’re working to continue expanding our usage-based insurance options and we encourage drivers to submit their odometer readings online or through their broker when renewing their insurance even if they don’t currently qualify for a distance-based discount,” said Wong. “This will help inform us on potentially new usage-based products that may benefit them in the future.”

ICBC customers can renew their insurance up to six weeks in advance of their policy expiring, so drivers with policies beginning on June 1st can renew their insurance early and potentially save on their Optional premiums.

ICBC also offers a 10% discount on Basic insurance for drivers who drive under 5,000 kms annually. If a customer drives under 5,000 km and has met all other eligibility requirements, they will get both the Basic distance-based discount and the Optional distance-based discount.

More information on usage-based insurance, including the new Optional distance-based discount and how to submit your odometer reading, is available on icbc.com.