The Insurance Corporation of British Columbia has announced the rebate for the eligible insurance customers this year as well. The corporation has initiated the rebate since 2021, and this year it marks the fifth rebate due to the ICBC’s strong financial position.
This year, ICBC will roll out rebates to 3.7 million customers in B.C. who had an active policy in January 2025. The rebate amounts to $110 for all the eligible ICBC customers, which will be around $410 million.
ICBC uses the one-time rebate as a means of giving back to its customers, who have helped the corporation to survive the global economic uncertainties and remain resilient. The corporation will process the rebate depending on the method you used to pay for the policy, some customers will receive the rebate in late April or May 2025.
| Who qualifies? | ICBC customers with an active basic insurance policy in January 2025 |
| Rebate Amount | $110 |
| Payment Methods | Payment Plan, Direct Deposit, Credit Card, and cheque |
| Payment Dates | Between Mid-March and May 2025 |
| Multiple policies | Multiple rebate |
| Recipients | 3.7 million |
| Total Rebate | $410 million |
| Official Website | https://www.icbc.com/insurance/2025rebate |
Who is eligible?
According to the ICBC announcement, the ICBC customers who meet the following eligibility requirements would receive the payout:
- The ICBC customers who had a basin insurance policy (including commercial and personal policies) active in January 2025.
- The customers who have multiple policies active on the ICBC can receive a rebate for each eligible policy.
Exclusion:
- This 2025 rebate does not apply to the following ICBC policies:
- Temporary Operation Permits
- Storage policies
- Policies for limited speed motorcycles, golf carts, trailers, off-road vehicles, and collector vehicles.
How will you receive it?
The ICBC customer is entitled to the rebate and will receive it through the payment method they have been using for the policy. However, if you have multiple policies and paid for them through multiple methods, you may receive the rebate through multiple ways.
The ICBC will process the 2025 rebate of $110 through the following payment method:
- If you paid for the ICBC policy through a payment plan, you will receive the rebate payment of $110 in your next payments from April 2025 until you receive the full payment.
- The refund will be applied to your credit card if you used a credit card to purchase the ICBC policy.
- If you paid for the ICBC policy through cash, debit card, or cheque, you would receive the payment directly to your bank account.
Exceptions:
- You will receive the ICBC 2025 rebate via cheque if your vehicle is on lease.
- The customers who own the vehicle jointly, the ICBC will issue one cheque for all registered owners, unless it is paid through a payment plan. ‘
- If ICBC was notified by the BC Family Maintenance Agency (BCFMA) that you owe money to them, your refund will be applied to that account.
When will you receive it?
The ICBC customers who meet the eligibility criteria will receive the payment based on the payment method you used for the policy. Customers can view the rebate processing payment and expected payout date below, depending on the payment method, even though the ICBC will mostly process the refund between mid-March and May 2025.:
- Payment Plan (Mid-March to late April): The customers will receive the rebate on their next payment schedule in April 2025.
- Credit Card (Mid-March to late April): ICBC customers receiving rebates through this payment method can expect the payment on their credit card in a month.
- Direct Deposit (Mid-March to Late April): Once ICBC processes the rebate, the customers can expect the payment to reflect in their account in 3 days.
- Cheque (April to Late May): Once the corporation processes the payment, the customers can expect the cheque to be delivered at their mailing address in 6 weeks.
The ICBC customers should know that the corporation would never issue a rebate through text message or email to any customers. If you receive any such message, delete it because it can be spam, and remember never to click the links given in such messages.
Factors that can affect your payment
The ICBC will automatically process the rebate to the eligible customers based on the payment plan they paid for the policies; however, the following factors can affect the payment time:
- The processing time of the credit card issuer or financial institution can affect the payment time after the ICBC processes your rebate.
- The date of your next payment scheduled for your payment plan established for the policy, can affect your payment date.
- If you will receive the ICBC rebate through a physical check, the mail processing and your area mailing timelines can affect your payment.
The eligible customers would receive the letter from the corporations with details on their rebate processing method and when they can expect their payment. If you have any questions regarding your ICBC rebates, you can call 604-982-6400 (Lower Mainland) or 1-844-982-6400 (North America).