The B.C. government unveiled a new website on Tuesday to help calculate ICBC premiums under the new no-fault insurance model coming May 1.
The shift to the no-fault model is expected to save drivers an average of $400 a year.
“In just minutes, drivers will be able to get an estimate of how much less they’ll be paying for auto insurance going forward,” Public Safety Minister Mike Farnworth told a news conference.
To use the online tool, a customer needs only to log in with their B.C. driver’s licence and licence plate numbers.
Customers can view and adjust coverage options and calculate an estimate for their upcoming renewal.
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If a customer is within 45 days of their renewal date, they can save the information to review it with a broker when it is time to renew and pay.
The Trial Lawyers Association of British Columbia has argued the switch to no-fault insurance will greatly diminish people’s right to a fair financial settlement.
Benefits for drivers will change dramatically with the new model: Customers will have up to $7.5 million in medical and rehabilitation benefits compared to $300,000 under the current system.
An injured driver will be able to sue if they are involved in a crash with someone charged with a criminal offence or if either a manufacturer or repair facility is found to have done faulty work.
Customers will be able to use the beefed-up Civil Resolution Tribunal as well, and can challenge decisions if there are concerns about the outcome.
When the no-fault model takes effect, millions of drivers will be owed a one-time, prorated refund of the difference between their current coverage and the new coverage.
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