One missed renewal can put your vehicle at risk of unforeseen on the road with no coverage. That’s why every British Columbian resident needs to have Insurance Corporation of British Columbia (ICBC) to save money and protect their biggest asset-the vehicles.
Whether you use the vehicle for daily commuting or to experience life on the road, ICBC insurance can have you covered.
But, can you renew your auto insurance online? What’s the cost of ICBC auto insurance renewal in BC? How early is it possible to renew your ICBC policy before expiry date? This comprehensive guide has all the answers you need to understand ICBC insurance renewal policies:
What’s ICBC and When to Expect ICBC Autoplan Renewal Notice?
Insurance Corporation of British Columbia (ICBC) is a government-owned auto insurance company. Different insurance brokers are affiliated with ICBC to provide personalized coverage options to vehicle owners in British Columbia.
Most importantly, you will receive a renewal notice one month before expiry date. The notice will allow you to review your coverage options and upgrade it with premiums for the upcoming year. You will be notified about discounts or policy changes as well.
Moreover, when your insurance policy is due for renewal, you can either renew it online, Consult your Trusted ICBC Autoplan Broker in person or call ICBC.
As ICBC basic autoplan insurance is a must-have for all licensed drivers in BC, it ensures that you and your vehicles have basic coverage.
Who is Eligible for ICBC Online Renewals?
In general, it is mandatory for all drivers in BC who use their cars for commuting or businesses. However, this auto insurance does not cover delivery vehicles. These renewals are only available for vehicles owned by a single owner.
Until now, jointly owned vehicles, leased vehicles, commercial or fleet vehicles or those with multiple owners do not have ICBC ‘online’ renewal option. Instead, your Trusted Choice Insurance Broker will guide you through the renewal process in person or on phone.
What Options Can You Get During ICBC Insurance Renewal Online?
A few options you can get when renewing are:
- Reviewing and personalizing your coverage (based on usage of vehicle)
- Change the listed driver(s)
- Update the address
- Take advantage of discounts and premiums
What’s the Cost of Renewal of ICBC Auto Insurance?
The cost to renew ICBC insurance online is based on a couple of factors:
- The type of vehicle you have
- Your driving history (and any major accidents)
- Whether you have taken premiums
- The level of coverage you choose
Furthermore, you can use the Online ICBC Quick Estimate Tool to get a quote of insurance renewal costs after adding your unique preferences. However, it will be a ballpark figure and may vary.
What Does Basic ICBC Auto Insurance Cover?
In B.C., the basic coverage provided by ICBC is legally mandatory for every driver to purchase. This basic auto coverage includes:
- Third-party liability
- Accident benefit
- Underinsured motorist protection
To make it a well-rounded coverage, you can choose to add collision and comprehensive insurance. It will cost you a little extra but can better protect you if the mishap happens.
What Are Comprehensive and Collision Coverage Options?
Comprehensive Coverage
A comprehensive autoplan insurance covers damage or loss of a vehicle in almost all kinds of circumstances except collision. It includes damage caused by:
- Theft
- Fire
- Falling objects
- Vandalism
- Malicious mischief
- Animal attacks
- Natural disasters like lighting, earthquake, windstorm, hail, etc.
Collision Coverage
It covers damage caused by the impact from other vehicles, objects, and person or road surface—even if it’s your fault. It may also cover the costs of towing and storage.
Can I Get My Identity Verified Online for the ICBC Renewal?
Whether you renew your ICBC Insurance Plan online or in person, identity verification is necessary. If you want to renew your insurance policy online, you can verify your identity with the British Columbia’s Services Card App. To install the app, visit the gov.bc.ca (BC Services Card App).
If you are not eligible for online renewal, get in touch with your broker to find alternate options.
Why Choose CHOICE Insurance for ICBC Auto Insurance?
When it comes to getting insurance, expert advice, personalized insurance policies and transparency of costs are top priorities of every client. For example, if you only use your vehicle for daily commutes, you may not need high-end coverage options that a vehicle used for adventurous trips may require.
In short, insurance is complicated. That’s why our experienced insurance advisors can help you find a tailored policy that best matches your needs and budget. Get in touch with our Senior Insurance Advisors.
As expert brokers in Canadian auto insurance, we can help you reconsider your auto insurance policies before you renew with complete transparency.
FAQs
How Early Can I Renew My Auto Insurance?
You can renew your ICBC policy at least 44 days before the expiration date.
Can Early Renewal Reduce My Coverage Time Period?
No, early renewal will not take away any covered days from you. You will be protected onwards from the day your present policy expires.
What are the Benefits of Early Policy Renewal?
Renewing your ICBC insurance early on can help you stay covered in case the unforeseen happens after the due date. Moreover, you will have adequate time to update your current policy, make any changes, purchase lower premium or avail discounts. It must be noted that lower premium is based on your driving record and a few other factors.
How to Pay for ICBC Renewal Online?
You can either pay via credit card (Mastercard, Visa, AMEX, etc.) or through monthly payments directly from your bank account.
How Can I Receive My Renewal Documents?
Your insurance renewal documents will be emailed to you that you can print to keep a hard copy. Otherwise, you can visit Choice Insurance broker to receive a hard copy. You may also Contact Us to mail you a copy of renewal documents.
