Autoplan insurance

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Autoplan payment plan

It's easy to spread out the cost of your insurance with the ICBC payment plan. You can choose monthly or quarterly payments on a 12-month policy.

Better budgeting and flexibility

Our Autoplan payment plan allows you to make easy-to-manage, scheduled payments to help with your monthly budgeting. You can:

  • spread the cost over equal monthly or quarterly payments

  • choose a monthly or quarterly withdrawal date that works for you. (The first payment comes out on the renewal date.)

  • pay the full balance at any time

Save money on interest

You may not realize how much you could be paying in interest, if you don't pay your credit card balance in full. We offer a lower finance rate (just 2.5%) compared to many Canadian credit cards. Find out how much you can save per year.

Use payment plan calculator

Payment plan terms

Missing payment

If there isn't enough money in your account when your monthly payment is due or if your financial institution has returned your payment, you'll have to pay an $18 fee. Within three to five days, we'll try to withdraw the missed payment again. If that's not successful, we'll contact you.

Cancel payment plan

If you need to cancel your insurance, try to do it at least one day before your payment is due to avoid an unexpected withdrawal.

Speak to your Autoplan broker

If you'd like to change your banking information or payment plan dates, please speak to your Autoplan broker.

Documents needed to sign up

Visit any Autoplan broker and bring:

  • your insurance documents and 

  • a void cheque or

  • a pre-authorized debit form. You can get this from your bank.

Cost

The one time enrolment fee is $15. You won't need to pay again as long as you keep your plan and renew it within 12 months of your Autoplan policy. The finance rate is fixed from the day you sign up and your monthly or quarterly payment stays the same. You may also pay the full balance at any time.

Who can sign up

To be eligible for the payment plan, you must prove that you:

  • are the registered owner (or the named lessee) of the vehicle you're insuring and

  • have a Canadian chequing or savings account that allows pre-authorized automatic withdrawals.

If you're under 19, you'll need your parent or guardian to co-sign the payment plan.

Six-month payment plan

You'll have to sign up for a six-month plan if you:

  • are new to B.C. or haven't been on our payment plan within the past year,

  • don't have a B.C. driver's licence or

  • are just ending a two-year period on a cash-only basis with ICBC due to payment problems in the past.

Once you've successfully completed a six-month plan, you can apply for the 12-month plan.