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.
Payment plan terms
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
Documents needed to sign up
Visit any Autoplan broker and bring:
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
Who can sign up
To be eligible for the payment plan, you must prove that you:
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.