ICBC offering new discount to low-mileage drivers

You could save 15 per cent or less on your car insurance.

ICBC says it will offer a new insurance discount to eligible drivers who drive under 15,000 kilometres per year.

It says drivers may save between 10 and 15 per cent on select optional insurance premium coverages depending on how much below that limit they drive.

The Crown corporation says the discount applies to most of its products, including collision, comprehensive, and extended third-party liability coverage.

Drivers will be required to drive fewer than 15,000 kilometres per year, provide two odometer readings one year apart to prove it, and have a 12-month plan with ICBC Optional coverage.

The discount will not apply to motorcycles, RVs, collector vehicles, and certain others.

“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,” said David Wong, ICBC president & CEO.

The new offer builds on ICBC’s existing usage-based discount program, which it claims discounted premiums for 882,000 customers last year.

The offer will be available for drivers renewing their policies from June 1 onwards.