A second insurance rebate is coming for British Columbia drivers thanks to lower claim costs due to fewer crashes during the COVID-19 pandemic.
The government says the Insurance Corporation of B.C. (ICBC) will begin distributing rebates averaging $120 starting in mid-July, returning about $350 million to almost three million customers.
Solicitor General Mike Farnworth says in a statement the government has been clear that any pandemic-related savings on the corporation’s bottom line will benefit customers.
Farnworth says the public auto insurer is in a strong financial position to issue the second rebate.
Customers who had an active insurance policy from Oct. 1 last year to March 31 this year will be eligible for cashback of about 11 per cent of the premiums they paid during that time.
The government says the amount of the second COVID-19 rebate will vary depending on premiums paid, but about 70 per cent of customers will see returns ranging between $60 and $200.
With files to the Canadian Press